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Prepaid credit card

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Prepaid credit card
Short yet informative article on prepaid credit cards and how they work. Gift them to your teenage kids.

Prepaid credit cards - the perfect way to control your spending and keep within budgets. You set the spending limits by the prepaid amount loaded on the card. This kind of credit card works well for students and teenagers too. Parents need not worry about spiraling debt that the kids may pile up.

Prepaid credit card

Prepaid credit cards are an excellent idea if you are on a budget-controlled spending or if you are credit challenged. In fact, you can never tell by looking at a credit card whether it is prepaid or otherwise. You need to open an account and load the credit card with cash up-front. It works in much the same way as prepaid telephone calling cards. Your cash balance works like your credit limit.

All you need to do is to activate your prepaid credit card just like you would do for any other. Each time you use your card, the purchase amount is automatically deducted from your card balance. Always keep track of the balance in your card account before making purchases. Prepaid credit cards have many an advantage:

  • You can apply online or at any retail stores. Since the money is paid up-front, there are no credit checks or income requirements.

  • Prepaid credit cards from VISA or MASTER can be used in practically all establishments.

  • Since you are borrowing your own money, no interest charges are levied

  • You cannot harm your credit history in any way. If you have damaged credit, the prepaid credit card is right for you.

  • Prepaid credit cards are safer than carrying money.

  • You can track your expenses and plan prudent budgeting. Make use of online tracking facilities to plan where you spend your money. You can review the balance that is left for the remainder of the month.

Free prepaid credit card

The concept of a free prepaid credit card is a misnomer. Though no interest in charged on the account or no annual fees are applied, there are registration and other charges. Extra fees are charged for topping up the prepaid credit cards with more money.

Virtual prepaid credit card

The virtual prepaid credit card is a new option for managing your online shopping. With the shopping season around the corner, find out more on this type of online prepaid credit card. A virtual prepaid credit card is available online for all Visa card holders. All you need to do is load the virtual card online once you have registered for it and received one. This card allows you to safely manage your online shopping confidentially.

Prepaid credit card for teen

Prepaid credit card for teens is an excellent way to monitor their expenses as well as keep it under reasonable limits. Gift a prepaid student credit card to your kid and it help for many a purchase. Parents can set a limit for the prepaid credit card for their teenage children. The children do not need to carry money around and parents are relieved of the woes of uncontrolled spending.

This can work as a preparatory exercise in money management for students. Prepaid student credit cards offer the convenience of plastic money to the kids, albeit with limited amounts. There are various tracking tools that help parents monitor the spending activities and maintain control. Parents can transfer the amount they choose into the prepaid credit card for teen account from their own checking accounts.

Prepaid gift credit card

There is no dearth of prepaid gift credit cards available from various lenders. Check out prepaid VISA gift credit cards. You can gift them to your kids for traveling. The recipient of a prepaid gift credit card can use this card for anything, ranging from everyday purchases and gas to even luxury items.

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