Prepaid cards are a great way to make purchases without going into debt or over a fixed limit. They are perfect for those individuals who need to manage their money effectively. A prepaid credit card is not actually based on credit.
It is based on the money that you have previously stored on the card for your use. Thus, although the transaction process is similar to that of normal credit cards, the money that you are using to make the purchase is your own.
The additional benefits, which the MasterCard along with the VISA prepaid cards and credit cards give to their customers, are as follow.
Prepaid cards make good gifts for teenagers as it teaches them to make purchases within certain limits. If you have been given a prepaid credit card with a co-branded card program, here are a few ways to use it for your transactions:
Immediate Access To Money Through MasterCard or VISA prepaid card or credit card, you get instant access to your money irrespective of the time and location. This comes particularly handy in case of any urgency or emergency as in such situations you need immediate cash.
Keeping a Record of Your Transactions It may not seem significant; however, with the documentation of your credit card transactions you are assisted in maintaining your everyday expenditure so that you can plan its when, where, and how. In keeping track, the cardholder does get their printed receipt as well besides the system's record itself.
At a Gas Station Gas stations work the same way with a credit card and a prepaid credit card, as long as you have enough money stored in your card. Swipe your card at the pump to pay for you gas or ask the attendants to help you with the process.
For Online Shopping Buying goods online becomes incredibly easy and safe with a prepaid card. The payments are quick and efficiently performed and as most online shopping sites are secure, you do not have to worry about identity theft. For online shopping however, it is best to have a card that is part of a co-branded card program.
Have a Positive Credit Score If you have ever faced rejection for car or home loan that you applied for merely because you had a bad credit score to represent you, the experience can let you be the judge of this aspect. Making timely payments to the bank, i.e. before or at the due date, implies that you are a responsible person. This of course verifies your credibility and therefore improves your credit score.
It is based on the money that you have previously stored on the card for your use. Thus, although the transaction process is similar to that of normal credit cards, the money that you are using to make the purchase is your own.
The additional benefits, which the MasterCard along with the VISA prepaid cards and credit cards give to their customers, are as follow.
Prepaid cards make good gifts for teenagers as it teaches them to make purchases within certain limits. If you have been given a prepaid credit card with a co-branded card program, here are a few ways to use it for your transactions:
Immediate Access To Money Through MasterCard or VISA prepaid card or credit card, you get instant access to your money irrespective of the time and location. This comes particularly handy in case of any urgency or emergency as in such situations you need immediate cash.
Keeping a Record of Your Transactions It may not seem significant; however, with the documentation of your credit card transactions you are assisted in maintaining your everyday expenditure so that you can plan its when, where, and how. In keeping track, the cardholder does get their printed receipt as well besides the system's record itself.
At a Gas Station Gas stations work the same way with a credit card and a prepaid credit card, as long as you have enough money stored in your card. Swipe your card at the pump to pay for you gas or ask the attendants to help you with the process.
For Online Shopping Buying goods online becomes incredibly easy and safe with a prepaid card. The payments are quick and efficiently performed and as most online shopping sites are secure, you do not have to worry about identity theft. For online shopping however, it is best to have a card that is part of a co-branded card program.
Have a Positive Credit Score If you have ever faced rejection for car or home loan that you applied for merely because you had a bad credit score to represent you, the experience can let you be the judge of this aspect. Making timely payments to the bank, i.e. before or at the due date, implies that you are a responsible person. This of course verifies your credibility and therefore improves your credit score.
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There are many benefits for pursuing credit card programs. Preferring to choose the likes of VISA co-branded cards or MasterCard will be a bonus.. This article, Credit Card Programs - The Many Advantages has free reprint rights.
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