Prepaid Cards

Prepaid Cards

Use of prepaid cards

Prepaid card – Cobranded Prepaid Cards from MasterCard or Visa

Prepaid cards offered by Silver Cards Cobranded Prepaid help in making advance payments, keep appropriate budgeting and maintain a balance between income and expenditure.

A financial card is a convenient and hassle free way of completing payments and purchases. Whether you are a small business owner or you run a large company, the method you use for managing all your financial transactions is one of the key affairs that must be practically conducted. Financial business requirements dictate the mode of payment and purchase that must be adopted. There is a number of options to choose from, ranging from credit cards to prepaid card programs.

Prepaid cards are more or less like credit cards as far as their functions and benefits are concerned. The payments and purchases that are completed through a credit card are issued as a debt to the cardholder and the amount must be paid back with interest. On the other hand, a prepaid cardholder must deposit the amount of money that he is planning to spend before making any transactions. A spending limit is fixed beforehand and the cardholder must deposit more money into his account if he plans to go beyond the fixed spending limit. Prepaid cards provide a risk free mode of conducting financial transactions as these cards do not place any credit liabilities on the card issuing authority or the card user.

Advantages:

Prepaid cards assist you in managing your budget, as you cannot spend more than your spending limit. It is an added advantage for people who make purchases on whim and regret later. With a prepaid card in hand, you are simply not allowed to go beyond your budget. Using a prepaid card would not land you in a huge debt, as might be the case with a credit card. They are safe to carry around especially if you are planning to travel abroad. These cards can be replaced if lost or stolen and there is no chance of a prepaid credit card fraud as they are protected by a pin code.

A co-branded card from MasterCard or Visa provides an added advantage as they are acceptable almost everywhere. Apart from universal acceptability, these co-branded cards enable the cardholder to claim any losses from the card issuing authority. The facility to put a claim is not provided by all the prepaid card backers. You would only be able to put a claim if your card is backed by Visa or MasterCard.

Silver Cards Cobranded Prepaid develops prepaid credit cards that are co-branded with MasterCard and Visa. These cobranded cards enable the cardholder to make purchases wherever MasterCard or Visa is accepted. It is a lot safer than cash as cash cannot be replaced if lost or stolen. Whether you are shopping or eating out, you can make payments using your prepaid card. These cobranded cards can be used to pay utility bills and make purchases online. No matter where you are, you can always rely on your prepaid credit card for making purchases while maintaining your budget. Prepaid cards provide a number of benefits to the cardholder at competitive charges.