by Steven Vance

The following prepaid debit cards and prepaid credit cards can help you control your spending. A reloadable debit card allows you to only spend up to the amount you have pre-deposited into the account. If you tend to overspend or would like to control your spending then a pre-paid debit card or prepaid credit card could be a good card for you.

Using a prepaid credit card has many advantages over wire transfers, money orders or other agent-based money sending locations. There are no unexpected agent fees for the recipient, and no need to carry large sums of cash. The prepaid credit card can be used to withdraw smaller amounts as needed from any Visa ATM. You can add more money to the prepaid credit card online, at any time immediately.

Why go prepaid?

Getting a prepaid card can help you build your credit history. If you are thinking about buying a car or house soon, get a prepaid to start building your credit. Most prepaid cards don’t have payment due dates. If you don’t want the responsibility of making a payment on time, get a prepaid and you will never have a payment. Credit cards often have fees. Get a prepaid and never overspend you limits, spend the planned amount, and earn rewards at the same time!

What are the charges?

Card application fee – Is there a charge for opening your account? If so is money loaded onto the card so that you have a balance on the card?Monthly service charge – Is there a monthly subscription fee and what do you get for this charge? For example does the prepaid card company provide free top-ups, an online service, a helpline or other additional services for you, funded by this fee?Customer call helpline – Are you charged at premium rate, national rate or standard rate for essential calls to the company’s helpline?Credit card/cash load – Is there a charge every time you top-up and does this vary by the manner in which you top-up, for example transferring funds from a credit card or in cash at the Post Office or at a Payzone or Paypoint terminal?

No interest to pay…

There’s no interest to pay or late payment fees! Because your cashplus prepaid MasterCard only approves transactions up to the amount prepaid on the card, it puts you in control of the amount you can spend. There’s no surprises as you can use the online facility to monitor balances and transactions at any time day or night.

Benefits of Prepaid Credit Cards

Spending independence – You can use prepaid credit cards just like regular credit cards. Just find what you need, hand your card to the clerk, sign your name on the receipt, get a copy of the receipt and your card back–and you’re done.

Convenience – Prepaid credit cards can be used everywhere Visa or MasterCard is accepted-at stores, gas stations, restaurants, theaters, in the mall and online.

Budgeting – You figure out in advance how you’ll spend it: spending can be controlled by how much money is loaded. In addition, prepaid credit cards provide a simpler way to keep track of money vs. carrying cash.

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Copyright (c) 2009 Liz Roberts

Today, credit cards can be considered as a necessity rather than a luxury. Many hotels, airlines and car rental companies offer online reservations which uses the credit card payment system. Truly, credit cards provide great convenience and practicality not only in purchasing things but in paying bills as well.

But what if you don’t own a credit card? Some people cannot qualify for regular credit cards because of their credit history. If you have bad credit, this may not be the best time for you to apply for a credit card account. Nevertheless, you can still enjoy the convenience of using card payment systems by getting a prepaid credit card.

Prepaid Credit Cards – How To Use Them

Prepaid credit cards can be used for payment just like a regular credit card. You can use them to buy things from online stores or make online reservations to your chosen hotel, airline or car rental company. You can use them to pay for your purchases at groceries, boutiques, diners, drugstores, convenience stores, gasoline stations and any establishment that accepts credit card payment.

What makes a prepaid card different is that it does not provide the account holder with a credit line. Instead, the cardholder must first deposit cash in the account before the card can be used for payment. If you deposited 0 in your prepaid card, you can use it to pay your bills as long as you don’t exceed 0. Once the cash deposit has been used up, the cardholder must make a new deposit in the account.

Advantages of Prepaid Credit Cards

Prepaid credit cards are generally accepted everywhere, particularly cards that bear the Visa or the MasterCard logo. Having a prepaid card allows you to do your shopping without carrying cash. But since you are not borrowing against your credit line, you don’t need to pay for additional interest rate or late penalty fees. The risk of overspending of uncontrolled spending is also reduced because you can’t use the card if you don’t have available funds.

If you want to purchase from an online store or make reservations but you don’t want to reveal your details or your bank account in the internet, you can use a prepaid card instead. If you’re worried about identity theft or fraud, you can deposit only the exact amount of purchase to your prepaid card account each time you want to purchase online.

Anyone who wants to apply for a prepaid card can do so without worrying about getting declined. Yes, even people with bad credit history or without a job can easily acquire a prepaid credit card.

Disadvantages of Prepaid Credit Cards

Are there disadvantages to using prepaid credit cards? One disadvantage is that you need to pay a flat rate to open an account and an annual fee to keep your account active. It is also very important to choose a prepaid card with reasonable transaction fees because you will be automatically charged with the transaction fee each time you use the card for payment.

Another disadvantage is that not all issuers of prepaid cards report to the credit bureaus. In order to build your credit history, you need to make sure that credit reporting is provided by the prepaid card company.

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by MJ/TR (´･ω･)

Copyright (c) 2009 Liz Roberts

People who suffer from a history of bad credit often have a difficult time finding a credit card with the best deal. Usually, the lowest interest rates, the rewards, and the privileges are reserved only for customers with good to excellent credit rating.

Most credit cards for bad credit impose a high APR, expensive late penalty fees, annual fees, etc. If you have bad credit, you may consider improving your credit history first before applying for a regular credit card.

Why Get A Prepaid Credit Card

Can a prepaid card help you rebuild your bad credit history? In the past years, prepaid card issuers do not provide credit reporting. Today however, prepaid credit cards or debit cards can be used in rebuilding credit history. You can now choose a prepaid card issuer that offers payment reporting to the major credit bureaus so you can start improving your credit right away. Use the internet to find potential prepaid cards and spend time comparing your choices.

Unlike credit cards, prepaid debit cards guarantee your approval regardless of your credit history or employment status. Issuers of prepaid cards can afford to be more lenient when approving applications since they will not be extending credit to the cardholder.

In order to use the debit card for payment, the cardholder must first make a cash deposit in the account. Consequently, each transaction is paid off immediately using the cash deposited by the cardholder. For instance, if you have deposited 0, then that means you have 0 to spend using your prepaid card. After you have spent 0, you must make a new deposit to be able to use your card again for payment.

Paying with a prepaid credit card is a good way to demonstrate your ability to manage your finances well. Make sure you have funds in your in your funds before you pay your prepaid credit card, enough to cover your purchases. Before using your card, everything must be planned. Thus, using a prepaid card keeps you away from the risk of uncontrolled spending.

Prepaid Credit Card – Just Like A Credit Card

Technically, one can enjoy all the convenience in payment that a regular credit card brings with a prepaid credit card. It can be used for making reservations from the internet or purchasing from any online store. You can take it with you to the mall or the supermarket and pay your purchases with a prepaid card rather than cash.

However, unlike a credit card, you don’t have to worry about missing your due date or paying for additional interest rate and late penalty charges. Each time you use your prepaid card for payment, your bills are automatically paid off the moment you make the transaction.

If you can’t qualify for a credit card with a low APR because of your credit score, then go for a prepaid credit card. Once you have improved your credit history, then that’s the time you can think about signing up for the best credit card in the market.

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by Wootang01

Low interest credit cards are essential tools for the frequent credit card user. Because many people cannot pay off their credit cards entirely when the bill arrives each month, enrolling in a low interest rate credit card program can help you keep your interest rate fees to a minimum. There are a variety of highly feasibly strategies available for shoppers that are in the market for low interest credit cards.

Background

Before you begin shopping for the best available low interest credit card, it is important to understand how rates are set. You probably know that all people wishing to obtain any sort of credit in the U.S. must go through a “credit check.” A credit check is essentially a survey of your past credit transactions that will help to determine the degree of liability that a credit card company may have to assume if you are going to be a client. Because there are so many credit card users representing a variety of backgrounds, individuals are assigned a unique “credit score.” In general, the higher your score is, the better chance you have of obtaining a low interest credit card.

Balance Transfer

While no credit card company can readily offer an interest-free card (at least for the long-term), you may be able to frequently transfer your credit card balance to a company that offers so-called “cheap credit cards.” Cheap credit cards are, essentially, credit cards that offer a limited-time-only promotion whereby individuals that enroll to receive a special low interest credit card will benefit from a 0% interest for a pre-determined amount of time. Buyers: beware. Often, when a company offers a 0% introductory rate, they make up for the generosity by drastically increasing the rate once the trial period has expired. For this reason, many individuals that use these cheap credit cards frequently migrate their balances from one low interest credit card provider to the next.

Be a Long-term Client

While migrating your balance from one company offering cheap credit cards to the next may seem like a strategic move, the frequent moving actually has a negative long-term effect on your credit score. Each time you open and close a credit card account, your credit score is threatened. The more you open and close the less stable you will appear. Therefore, your credit score will necessarily be lowered. However, there is hope for long-term clients wishing to obtain a low interest credit card. No matter how low or high your interest rate is when you initially enroll in a program, if you can establish a strong history with a credit card company, you will be in a good position to negotiate a low interest rate.

Shop Around

It may seem intuitive, but many credit card users neglect to shop around for the best rates. Instead, they sign up with whichever low interest credit card company that offers an appealing rate on the direct mail campaign. However, with a little research, you will likely find that there is a huge disparity between the rates that various credit card companies are prepared to offer. Also, if you are a member of any professional organization, you may qualify for an additional discount on the interest rate. Do your research; you will find that education will be your finest asset when selecting a low interest rate credit card.

Everyone wants to shop using a low interest credit card. No matter how affluent you are, many people bulk at the idea of paying high interest rates month after month. Regardless of your existing credit score, if you combine strategy and research, you can certainly find a slew of low interest credit cards that will make your purchasing experience much more pleasurable. Remember: cheap credit cards not only soothe any shopper’s conscious, but they allow shoppers to retain some extra cash that they can put towards more important purchases.

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