subject: How to Use Your Prepaid Credit Card Wisely [print this page] How to Use Your Prepaid Credit Card Wisely
Today, prepaid credit cards are slowly going mainstream. More and more people switch into using prepaid debit cards to have more control over their finances. Since, prepaid credit cards are also a business themselves, there are also certain charges. These charges are not as high as credit card rates and APR's. But still, owners have to learn how to use their card well to make the most out of it.
Buy in bulk when purchasing online.
Buying online certainly saves more time and effort. Shoppers no longer need to trawl the isles and carry those shopping baskets just to shop. This modern way of shopping is usually paid with a visa pre paid. In using a prepaid card online, there's a $1 charge. Although this amount may seem negligible, the more things bought, the more charges incurred. So, the tip then is to buy things in bulk at one time. List down first what things are really necessary to be bought and try to put them all on the one transaction.
Charge the card with the right amount to pay.
Although prepaid credit cards are now a safer way to transact online, don't be too trusting. Amazon.com and e-bay are secure websites. But in case it is a necessity to purchase something at a new site, be sure to take some referrals first. Ask a friend if the site is safe enough to make a transaction. If there's no time to inquire, deposit the right amount (plus the closing fee) to avoid being overcharged. There are also cases in restaurants where waiters are sneaky. To prevent them from charging huge tips, be sure to write the tip on the sheet. Afterwards, review it just to be sure there are no discrepancies.
Using the ATM feature
The other advantage of having visa prepaid is that it can be used as an ATM. Although this feature will enable users to have fast cash during emergencies, some costs are also associated by using it. Sometimes the bank doesn't explicitly state the fees associated with using the ATM. To be able to avoid these scenarios, ask the bank or just read the fine print. The legalities might be boring and confusing but taking the time to comprehend what it's all about may save money in the future. If there are no fees associated with using the ATM feature, maybe withdrawing from a bank not affiliated with the issuing bank will cost the charges. If so, know the issuing bank's affiliates to know where the "friendly" ATM machines are.
