Prepaid Debit Card Offers: Are they Right for you?

Prepaid Debit Card Offers: Are they Right for you?
If you have less-than-perfect credit, you may find it hard
to get approved for a regular credit card. You still have
some credit options, however. One of these is the prepaid
debit card. Following is information on how this type of
card works, its advantages and disadvantages, and two to
consider applying for.

About Prepaid Debit Cards. Prepaid debit cards entered the
market in the 1990s. They are similar, in some ways, to a
prepaid phone card. You place money into your account, and
then are able to make purchases. Once the balance runs out,
you have to load more money into the account.

Loading money onto the card is fairly easy. Some cards let
you call in and transfer money from one account to another.
You can also load money by accessing your account online.
The amount of money you put on the card becomes your credit
limit.

Advantages of Prepaid Debit Cards. There are several
advantages to this type of card. First of all, it is
available for just about anyone over the age of 18. So if
you have a history of poor credit, this may be a smart
choice for you. You can use the card instead of carrying
around cash. Paying with plastic is sometimes safer and
easier when it comes time to check out.

Most prepaid debit cards are issued through Visa or
MasterCard, which means they are widely accepted around the
world. Since the credit limit is determined by the balance
on the card, you do not have to make monthly payments. This
saves you the hassle of bills and potential late fees.

Disadvantages of Prepaid Debit Cards. Many prepaid debit
cards come with a number of attached fees. You might be
charged an application fee, as well as a fee for monthly
maintenance. Some also include a charge every time that you
make a purchase.

These costs may seem steep; however, it is important to
remember that this card is an option for you if you're
having trouble getting approved for different forms of
credit. By understanding the fees involved, you can make
sure you use the card in a way to get the most out of it as
possible.

Two to Consider: There are a variety of options available
if you want a prepaid debit card. One of these is the
READYdebit card issued by Visa. This card has a minimum
amount of fees. You can load money for free through direct
deposit and bank account transfers. Also, it advertises
that all who apply will be approved.

Another option to look into is the Bank Freedom Prepaid
MasterCard. No credit check is performed when you apply for
this card. There are also very few fees involved. With both
of these options, you can enjoy many of the benefits of a
credit card without having to worry about having good
credit in order to get approved.

If you decide to get a prepaid debit card, do some research
before you apply for one. Look online at the different
choices available. When you find one that fits your needs,
fill out the application. The card will arrive in just a
few days.

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To View Prepaid Debit Card Offers click the following link:
http://www.credit-card-surplus.com/prepaid.php . Ed
Vegliante runs http://www.credit-card-surplus.com , a
directory helping consumers to compare and apply for credit
cards.