Compare the cheapest and best pre-paid cards
Discover the best Prepaid debit Card
Thinking to acquire a prepaid credit card? Well, it is advisable to first know the tremendous benefits of prepaid credit cards before purchasing the ideal one.
- No credit check-
With prepaid cards, you do not have to worry about your credit history. Whether you are willing to establish a credit history or wish to improve your bad credit, using a prepaid card is simply the right option.
- Control over finances-
Since prepaid credit cards come with restrictions and do not provide credit lines, it becomes easier for you to control your spending. Using a regular credit card can lead you to overspending your finances and debt build up, repayment of which is difficult. But, with prepaid credit cards, the risk of bad debt is greatly lessened.
- Widely accepted-
Prepaid cards are usually accepted at all stores in the world. If your prepaid credit card bears the MasterCard or VISA logo, then all your payments will be accepted without question. Not only this, you can use your prepaid MasterCard for making payments or reservations on the web.
- Easy Shopping-
With a prepaid credit card, shopping on the Internet is safe and easy. You do not need to reveal your banking information like you do ion case of using regular credit cards.
- Great for travelers-
If you are a frequent traveler, then carrying money can be risky. By getting a prepaid card, you do not need to take plenty of cash. Moreover, in case the card gets misplaced, you can just call your issuer and get the account blocked against unauthorized transactions.
There are many more benefits of prepaid credit cards, above mentioned are just the major ones. While choosing a prepaid card, it is advisable to buy the one that comes with a minimal set of fees. You can do this by making a comparison between different types of prepaid cards online.
How do Prepaid Credit Cards Help in Building Credit?
Credit card firms have a substantial control over your credit card score. These companies keep reporting the updated information to the credit reporting agencies. Hence, your credit score is tracked regularly. When the credit card company reports a non-payment of a bill, the credit score goes down and similarly when a timely payment is made, the credit score rises.
When you get an approval for a repayable credit card, the firm provides you an account in which you transfer a sum of your money. This way, the credit card gets ‘loaded or charged’ with the amount deposed into the account and purchases can be made through the prepaid credit card.
In such cases, credit card institutions give a positive feedback to the credit reporting agencies, thereby improving your credit score. By this, your credit score keeps getting steadily increased each day, with every transaction.
All you have to do is, feed money in to the account and keep using the prepaid card instead of a traditional credit card. The only common thing between prepaid cards and traditional credit cards is that the firm charges a membership fee along with an Annual Percentage Rate. In some cases though, there are no fees attached with prepaid cards.
Cheap and Best Prepaid Cards for Good Credit
Several credit card companies operate accounts for prepaid cards in order to build credit. The perfect prepaid credit is the one that charges less or nil fees. At the same time, the card that reports to almost all the credit reporting agencies.
You can check out some pf the most commonly used prepaid cards:
- Prepaid MasterCard
- Visa Prepaid Card
- Reloadable Prepaid MasterCard
- Debit Visa Prepaid Card
Using these prepaid cards is a great way to increase credit score in 30 days!
Pre paid Credit Cards- For any Lifestyle!
Since the inception of pre paid credit cards, people have had been confused about the benefits of these cards. But now, many are realizing that prepay cards can fit into anyone’s lifestyle.
The greatest benefit of pre paid credit cards is the ease they provide, of buying and reloading the card. These cards can be purchased from various retail or online stores. Moreover, the prepay cards cards can be reloaded either online or from the same locations from where they were purchased.
People using pre paid credit cards can keep track of their spending. Also, they have an option of transferring the money into their savings account. Prepay card users can access their accounts 24 hours and can always view their remaining balance.
The biggest benefit you can derive from these prepay cards is, these allow you to avoid the possibility of overdraft fees. You can only use the amount that is loaded on your card.
Besides using traditional bank accounts, people are switching to pre paid cards as these work as great financial tools. Easy and convenient to use, prepay cards are designed for every business owner as well as common man.
The major issue with traditional credit cards is that it is easy to find yourself in a debt scenario. But with pre paid credit cards; you are free from debt issues. Only the amount which is pre-loaded onto the card can be spent. So, there will be no surprise bills at the end of the month.
No one actually realizes, but prepay cards fit into everyone’s lifestyle. People who were unaware of their benefits can look over the benefits and make the best use. All you can do to avail the best prepay card is, search through web. You will get a plethora of information on Internet regarding different rewards and benefits offered by each prepay card.