As we all know that it is next to impossible to grab credit cards if you are struggling with bad credit history
. However, lenders and banks have introduced prepaid credit cards to help people. Any UK citizen can obtain this plastic money in spite of adverse credit ratings. They are also known as debit cards. It is kind an opportunity to use plastic instead of cash and the biggest advantage you can feel while using internet shopping. Applying for debit cards is very easy and simple through internet, as there is no involvement of credit check. Most of the people ask the question why financial companies and lenders do not run credit check on applicant's name. Since lenders are not offering you credit so they are not required to perform credit check on your name.
Prepaid credit cards not only help you while internet shopping or reservations but also help to manage the expenses. Here, you do not need to pay any interest rate or late charges because you make the on the spot payments to shopkeepers and do not take credit. Card holders use their money while making purchase of products or services. Following are the benefits of debit cards:
- No tension of carrying cash everywhere
- People can withdraw the money through ATM without paying any charge or interest at home or abroad
- Consumers are allowed to transfer the funds to other needy people without paying any charges
- You can do internet shopping or reservations
- Adding balance in your mobile phone
Before using the prepaid credit cards, it is mandatory to deposit the amount into your saving account because your plastic card is directly connect to your account. It means banks or lenders will deduct the amount from your account whenever you make any purchase through internet or regular shop. These cards are accepted worldwide in almost all countries. It is advisable to checkout the hidden charges, extra cost etc. before signing up for debit cards.