|
Home | Finance
Bad Credit- Not employed- Get Your Card Credit Instant Prepaid 
By: Eli Elst
Prepaid cards, although they're comparatively new, are becoming more popular. Many local stores offer 'prepaid gift cards' - you may have already used one! But prepaid payment cards aren't just limited to these gift cards. Individuals with a low score or with no employment can have a prepaid card to replace cash and even make purchases online.
Prepaid cards can be used in many ways, from sending money to family and friends, handling travel funds, and even online shopping. Instead of using cash, gift certificates or cheques, prepaid cards may be a safer alternative.
The Differences between Prepaid Cards - Bank Debit Cards & Credit Cards:
Prepaid Debit Cards - key features:
*No credit checks as it is not a line of credit (so no borrowing and no debt). *No interest charges. *No employment verification. *Fees may be charged depending on the type of card. (Read T and Cs carefully where they will be clearly explained.) *Only require basic customer information. *Under 18's OK. *Can be used worldwide,wherever Visa - MasterCard and/or Maestro are accepted, depending on the brand mark on your card. *Can be used at an ATM. *Usually, includes free bill payment service meaning that you can pay anyone online or over the phone. *Can be cancelled/blocked if lost or stolen. *Many also offer free rewards programs.
Bank Debit Cards:
*Credit history check to open the bank account to which the card is linked. *Account may have an overdraft facility. *Interest charges may be incurred on money borrowed against an overdraft and with no interest free period. *Fees if you go beyond an agreed overdraft. *Full disclosure of customer information is required. *May be used wherever Visa - MasterCard and/or Maestro are accepted, depending on the brand mark on your card. *You can used at an ATM. *Can be blocked or cancelled if lost or stolen.
Credit Cards:
*Credit check in order to approve card, decide credit limit and set interest rate. *Line of credit usually can be increased over time. *Interest charges typically apply on money borrowed against the credit limit, if there is an outstanding balance after the interest-free period. *Charges such as late payment fees, over-limit fees, cash advance fees, foreign exchange charges, duplicate statement fees and nonactivity fees. These are explained in the T and Cs for each card product. *Full customer information is required. *Individual must be over 18 years old. *Can be used anywhere Visa or MasterCard is accepted. *It can be used at an ATM. *The card can be cancelled/blocked if lost or stolen.
Who can obtain a Prepaid Card? Prepaid cards can be obtained by individuals who have a bad credit history or individuals that do not qualify for a bank account. A person who does not want to carry large amounts of cash. Backpackers. A person who does not want to pay credit card interest charges. Parents who want to provide their children with secure and limited spending capabilities. Cardholders who would like to plan their finances. Overseas travellers. Employees who wish to place funds onto these cards, decreasing payroll distribution costs, simplifying bank reconciliation, reducing fraud and eliminating lost cheque cancellation and replacement. cheap money transfers. It's simple to add an additional card which may be sent to another person.
So, Prepaid Cards can be secure substitute for cash, cheques and gift certificates. The advantages of using prepaid cards are numerous. Including being available to almost anyone, even individuals who do not qualify for a regular credit card.
Article Source: http://www.uberarticles.com/articles
For further money saving information visit Eli's Blog "The best credit card site". Alternatively, if you are in a hurry you might prefer to get " card credit instant prepaid " comparisons.
This article is licensed under a Creative Commons Attribution-No Derivative Works 3.0 Unported License, which means you may freely reprint it, in its entiretly, provided you include the author's resource box along with LIVE links (without "nofollow" tags).
| 
