Benefits of Prepaid Credit Cards
Due to the state of the economy these days many individuals are finding themselves without jobs and poor credit. With unemployment rates so high, it’s no wonder so many are having financial difficulty. If you are one of the millions of people affected by the downfall then you might be interested in hearing about prepaid credit cards. There are many advantages to having prepaid credit cards for those of you who desire a credit card but just don’t have the credit to get one.
Carrying Cash is Not Secure
With a prepaid MasterCard or Visa you can safely load your cash onto the card and shop conveniently and securely. Carrying cash these days is dangerous and puts you at risk. With the security of a prepaid credit card you can make all your purchases, pay bills in person or online. Prepaid cards like the ones from Greendot.com allow you to register online and keep record of your purchases. With cash you have to keep track of your receipts in order to have proof of payment. Prepaid credit cards allow you the convenience of credit cards without the invasive credit checks and hassles.
Money Management Skills
What most people don’t know about prepaid credit cards is that they are learning how to properly use a credit card. With a prepaid card you can never spend more than you have making you conscious of all your purchases; which you should be anyways. Too many get caught up with credit cards and spend UN-necessarily; with a prepaid credit card you are always aware of your purchases because to you they are just like cash. When you prepay for something you are ten times more likely to be more aware of your purchases.
Debt is a Four Letter Word
One of the greatest benefits to having a prepaid credit card versus a credit card is that you don’t have to worry about going over the limit. Credit cards and debit cards through a bank will charge outrageous overdraft charges. With a prepaid credit card you never have overdraft charges because you cannot spend beyond your limit. Another advantage of the prepaid credit card is that there is no paying back the debt later. Debt is a four letter word that has impacted our nation as a whole. With a prepaid credit card you don’t’ have debt. All purchases are paid for like they are cash purchases.
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