Prepaid Credit Card

Prepaid Credit Card

Prepaid Credit Card

Prepaid Debit Card, Prepaid Credit Card – Prepaid card benefits

Basically there are two main types of credit cards, one is a secured credit card and the other is a prepaid credit card. The main difference between the two is that with a secured credit card the money spent is coming from a line of credit which has been extended to you by a financial institution and a prepaid credit card will only allow you to spend the amount of funds which have been previously loaded to the card. This balance on the card is not a line of credit and must be preloaded in order for the prepaid credit card to work for financial transactions or ATM withdrawals.

Many people choose to use a prepaid credit card as a solution if they are already sinking in debt or want to avoid future credit card debt from piling up. Prepaid credit cards are also a great option for consumers who have less than perfect credit yet would like to experience the many benefits which credit cards provide such as the ability to make reservations and online purchases safely and securely.

This allows consumers to enjoy all of the conveniences associated with debit card programs and credit card programs without the risk of overspending which is a huge problem for many people. A prepaid credit card can also be used a replacement for a bank account and will allow you to sign up for services such as direct deposit through the use of an account number which is similar to that of an account number and routing number which is liked to a bank account.

Another great advantage of a prepaid debit card is that since a pin is required to use a debit card, there is no chance of anyone accessing your funds even in the event that your prepaid debit card is lost or stolen. This makes a prepaid debit card a safer alternative than both credit cards and cash because your funds are not allowed to fall into the wrong hands.

Prepaid debit cards also allow people with bad or less than perfect credit to gain access to a debit card which can be used the same way as a credit card without the credit check which often accompanies an application for a credit card. Income does not need to be verified and credit has no bearing on approval because there is no funding from a financial institution when using a prepaid debit card.

A prepaid debit card offers all of the many benefits of a credit card program without all of the risk. If you are interested in checking out the prepaid credit card programs which we offer, please feel free to contact us, we would be happy to assist you!