Prepaid Cards Vs. Store Value Cards

Managing expenses through budgeting, providing a gift or simply making it easier

to avoid overspending throughout the month often results in using prepaid cards or stored value cards. Understanding the differences between the two types of cards will make it easier to determine which is the better solution for personal preferences.

Prepaid Cards:

A prepaid card is a useful financial tool or gift. The card works in a similar manner as a credit or debit card. The spending limit on a prepaid card is set by the amount loaded into the card at the time it is obtained.

The best prepaid cards, like those available through CreditNowUSA.com, are applied in any location that accepts credit and debit cards and the card will work in a similar manner. The flexibility associated with prepaid cards is a major benefit that makes it an ideal solution to spending needs.

Prepaid cards are also issued in a particular name, so only the individual whose name is on the account is able to use the card. This makes it easier to ensure the security of the account while making purchases.

Store Value Cards:

A store value card, which is also called stored value cards, is another type of pre-loaded option. The major difference is that instead of providing a digital account that allows reloading cash, the money is all put into the card directly. It is not reloaded and the money is only used once.

Many stored value cards are not flexible. This type of card is commonly used as a gift card for retail shops, so it will have sometimes have set limitations on where it is possible to spend the cash.

Another downside is the fact that an individual name is not placed on the card. Anyone can use the card, even if it is not the recipient or the individual who purchased it. That can result in reduced security while shopping or using the funds.

A prepaid card is often a better option than store value cards due to the improved flexibility and usage applications. Finding the best prepaid cards is simple with the help of CreditNowUSAs services.

For more information, go to Prepaid Cards at http://www.creditnowusa.com/Prepaid-Cards

by: Money Lender

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