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Why You Should Use A Prepaid Credit Card-

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					                                                   Presented by Daniel Toriola


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                                           Why You Should Use A Prepaid Credit Card?
                                                                  By Bob Janeway



   Prepaid credit cards have been growing in popularity over the past few years. But despite the 'credit
card' name, no credit is actually involved. Here’s how it work's.

When a standard credit card is used, you pay for the convenience of being able to purchase items
without saving the money up first. The issuing bank is basically lending you money , to be repayed on
a regular basis. But with a prepaid credit card, there is no line of credit or loan. Instead, the user will
make deposits to their bank account, and then use the credit card to withdraw that money for
purchases. Why would you use a prepaid credit card if you don't actually get any credit?

A prepaid credit card is a excellent choice if you want to be able to make purchases online without
taking the risk of giving unknown merchants your credit card information and access to your credit line.
Lots of people today are sensitive to online credit fraud, and this is one of several ways around it. But
be aware though, many merchants that require you to make monthly payments will not accept a
prepaid card for purchases.

A prepaid credit card is also an great way to provide a weekly or monthly spending allowance to a child
away from home, let's say, at college. The student has the convenience of being able to charge
different items on the card, and you can easily have control over the amount that the child spends by
the amount of the deposits made to the account. This will go a long way in teaching them how to
manage their money.

If you have decided that a prepaid credit card is the right choice for you, there are a lot of options
available that can offer you varying benefits. Perhaps you're looking to repair or restore your credit.
Could be you want a way to give your away-from-home student a monthly allowance. No matter what
your reason, why not choose a prepaid credit card that allows you to earn income at the same time?

Prepaid Credit Cards That Help You Restore Your Credit

Not every financial institution that issues stored value credit cards makes reports to credit agencies
about your spending history. If part of your reason for applying for a prepaid card is to repair your credit
history, make sure you choose a company that does make reports. There are also a number of issuing
companies that offer credit reporting as an add-on service for an additional fee.

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Prepaid Credit Cards That Pay You Back

Some major financial institutions will offer you a prepaid credit card with an opportunity to make
income. They offer a rebate on spending, or a referral program. If you don't need to build your credit,
and believe that your income through spending rebates and referrals will exceed the annual
membership fees, then these types of cards might be a excellent choice for you.

What ever your reason for choosing a prepaid credit card, be sure that you shop around to get the best
deal, and that you check out the financial institution to make certain that they are a reputable business.




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                           3 Things Everyone Should Know About Prepaid Credit Cards
                                                      By Sean Masterson



 In the world of prepaid credit cards you have the good guys, the bad guys and the occasional guy who
sits on the fence -- and you can never really be sure which way that guy is going to lean. How do you
tell which card is which? If you're looking to use prepaid credit cards for purchasing power, there are a
few things you need to keep in mind...

1. Fees, Fees and More Fees

Not all prepaid credit cards are created equal and nothing details this as well as the fact that the fees
can vary so greatly from one card to the next. Prepaid credit card A, for example, may have a $25 start
up fee and a monthly fee of $4.95 per month, while prepaid card B may only cost $10 to start up and
may not charge a monthly service fee as long as the card is in use.

Make sure you compare all fees closely before deciding on any prepaid credit card. Remember,
sometimes what you don't know can end up hurting you, and unexpected fees and charges are a
perfect example.

2. Credit Reporting

If you're thinking that prepaid cards will help build your credit rating, you need to think twice. Almost all
of the prepaid credit cards out there will do nothing for your credit. A secured credit card will report your
activity to the credit bureaus, whereas prepaid cards will not.

3. You Can't Use Them Everywhere

Don't automatically assume you can use prepaid plastic to book a room at a hotel or rent a car. Many
hotels will not accept prepaid credit cards as a form of payment, and many car rental companies are
following that line of thinking. What prepaid credit cards are good for is making purchases online and
paying for gas at the pump.

Why wouldn't you just use a debit card to do this? Because that exposes the bank account connected
to your debit card to the dangers of the Web. A prepaid credit card does not pose this problem.

So remember, when you're looking into prepaid plastic, compare fees carefully and pay close attention
to the terms and conditions from one card to the next. Also pay attention to the policies of the
businesses that accept them.

Prepaid credit cards definitely have their place in the world of plastic, but they are by no means a
be-all-end-all credit card solution.



For more tips on prepaid credit cards, saving money and avoiding getting taken, check out
CreditCardWhizKid.com, a website that specializes in providing credit card tips, advice and resources.
http://www.creditcardwhizkid.com/prepaid-credit-cards/


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3 Things Everyone Should Know About Prepaid Credit Cards
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