Prepaid cards and their benefits

06 May 2013 - Mark Maffia

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Prepaid cards and their benefits


Prepaid cards are a perfect solution to avoid landing in red figures

Maybe you are a student or have a bad credit history and cannot have a traditional credit card a prepaid card could be the ideal solution.


The difference to a traditional credit card

Money spent with a traditional credit card will be booked off your account by the end of the month.    It is a kind of loan which the card issuer provides.   A prepaid card works exactly like any other credit card but no money will be booked off you have to load it with money before you can use it.


The advantages of a prepaid card

A prepaid card is used for making payments in shops and restaurants, to go shopping on the Internet, for booking events, and one can use it at cash machines around the globe.   The only difference to a normal credit card is that it is not possible to lose the overview and spend money one does not actually have, because it cannot be used if one hasn't put credit on it in advance. This is why an application for a prepaid card will be accepted even if you have no work, have a bad credit score and if you are under 18 years old.

A prepaid card can be an ideal solution for travelling, as the exact travel budget can be put onto it.  It can also be used for business expenses, and for young people to receive their pocket money.

 

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