PREPAID CREDIT CARDS

What is a prepaid credit card?

In this high-tech era of computers and machines, the purchasing power of people is mostly based on credit. Nowadays, credit cards are almost indispensable in almost anybusiness transaction. For one, nobody can purchase anything online without a credit card.
People who have a poor credit history though, will have a hard time getting or renewing their credit cards. This is where prepaid credit becomes useful.

There are lenders that offer prepaid MasterCards and/or prepaid Visa Cards. Both these cards can be used like a regular credit card. It is even hard to distinguish which card is prepaid or not, by simply looking at it or even using it.

This is basically how prepaid credit cards work. When an account is opened, the card should be “pre-loaded” with cash up-front. This is like paying for a pre-paid calling card. Prepaid MasterCards or Visas can be used anywhere as long as these cards are accepted.

The prepaid credit card advantage:

1. Prepaid credit card can be easily obtained. It can be purchased online or in local retail stores. It does not require any credit check or proof of income. The only thing to do is to fill out an application, pay a small fee for setting-up the account and load the card with cash. The amount of cash loaded will be the “credit limit”

2. No interest charges.
When a prepaid MasterCard or prepaid Visa is used, there is no interest charge unlike the regular credit card. The reason for this is that the money used is the owner’sactual money therefore no interest is needed.

3. Prepaid credit cards are free from financial or credit problems.

4. Prepaid cards can be used almost anywhere. Prepaid MasterCards and Visa cards are almost accepted anywhere in the world.

Disadvantages of Prepaid Credit Cards:

1. Usually a set-up fee of 5 to 50 dollars is needed when an account is opened. Then another fee of $5 or more is paid every time more money is loaded onto the card. Regular credit cards usually do not charge a set-up fee or annual fees.

2. Cash up front is needed before any purchase could be made with the prepaid card.
This could be an advantage since compulsive spending can be avoided.

3. There are some prepaid credit cards that cannot be used to pay regular payments such as monthly electric consumption or online services.

The Conclusion:
The prepaid credit card is a definite help for people who have past credit problems. It is just a matter of choosing the right prepaid credit card that suits ones’ needs.

Prepaid Visa® RushCard

Intro APR Intro Period Regular APR Annual Fee N/A* N/A* N/A%* N/A* Created by Russell Simmons to provide Financial Freedom and Respect NO monthly, NO annual fees and NO hidden fees Quick and easy! Everyone is eligible! NO credit check FREE direct deposit of pay, tax refund, and government benefits Access your money at over 850,000 ATMS Free 24x7 customer service, activity status, & balance inquiries Use anywhere Visa debit cards are accepted-in stores, on the internet, and over the phone Helps control debt-you can't overspend!

Baby Phat Prepaid Visa® RushCard

Intro APR Intro Period Regular APR Annual Fee N/A* N/A* N/A%* N/A* Show your style with the BabyPhat RushCard NO monthly, NO annual fees and NO hidden fees Quick and easy! Everyone is eligible! NO credit check FREE direct deposit of pay, tax refund, and government benefits Access your money at over 850,000 ATMS Free 24x7 customer service, activity status, & balance inquiries Use anywhere Visa debit cards are accepted-in stores, on the internet, and over the phone Helps control debt-you can't overspend!

Wired Plastic™ Prepaid Visa® Card

Intro APR Intro Period Regular APR Annual Fee N/A* N/A* N/A%* 39.95* New Card for Convenient Tap-n-Pay Purchases at Merchants Nationwide No Bounced Check, NSF and Overdraft Charges EVER! FREE Rewards Program - Earn 1 point for every $1 spent, redeem for Prepaid Wireless Airtime, Music Downloads, LD Calls FREE Bill Pay Service - Pay Anyone Online or Over the Phone FREE Credit Builder with Overdraft Protection FREE Mobile & Email Alerts FREE Direct Deposit - Eliminate Check Cashing Fees Add Cash Instantly at 100,000 Retail Locations Nationwide

AccountNow™ Prepaid MasterCard®

Intro APR Intro Period Regular APR Annual Fee ** N/A* N/A%* See Terms** Build your credit with the new iAdvance loan option(SM) Instant Guaranteed Approval* – no credit check, no security deposit $0 ACTIVATION FEE – when you load your card by direct deposit Free Direct Deposit – no more check cashing fees Free Online Bill Pay – no need for expensive money orders Free Credit Builder† – bill pay transactions are reported to PRBC® No Overdraft Fees – no minimum balance required Reloadable - $10,000 balance limit

First Vineyard MasterCard® Card

Intro APR Intro Period Regular APR Annual Fee N/A* N/A* N/A%* ** Receive cash back from your own spending Receive cash compensation from the spending of anyone in your compensation tree. Live debt free and receive compensation for your everyday spending. Reload your card directly from your payroll or bank account Powerful Online Account Management Online Bill Payment service included – Pay your bills directly with our powerful bill payment service Card Accepted at 30 Million merchants & One Million ATM machines

All-Access® Visa® Prepaid Card

Intro APR Intro Period Regular APR Annual Fee ** N/A* N/A%* None* As seen in stores nationwide Extra user cards – EXCLUSIVE OFFERING! FREE (5% APR) savings account - EXCLUSIVE OFFERING! FREE 2-way text message alerts - EXCLUSIVE OFFERING! FREE mobile money transfers - EXCLUSIVE OFFERING! Refer-a-Friend and you both get paid - EXCLUSIVE OFFERING! Direct deposit - get paid fast Unlimited purchase transactions Pay bills online 24/7 Black or silver card options Cash load up to $10,000 at over 65,000 locations Signature, PIN or ATM transactions accepted NO credit check NO bank account required NO upfront cost to order NO overdraft fees NO minimum balances