subject: Prepaid Mastercard Will Help You To Turn Your Credit Rating Around! [print this page] A prepaid MasterCard can be used like a debit or credit card and it is accepted in most places that accept payment by credit or debit card. The prepaid card is becoming a popular choice for those who want convenience, safety, and the flexibility that a credit or debit card offers but without the fees that come with credit and debit cards.
A lot of people like to use a card to make purchases because they do not have to worry about carrying cash in their wallet or purse. Some people, for safety reasons, do not like carrying cash in their wallet or purse. The debit or credit card is the right choice for those who want convenience and safety.
The major advantage the prepaid master card option has is that there are no fees associated with it as there are with the credit or debit option. Credit cards charge an annual fee and charge interest on any outstanding balances. Most debit card users have to pay an overdraft fee if they charge more on their card than what is available in their checking account.
The card user paid for a three dollar cup of coffee with his debit card when his account was overdrawn. The bank charged him thirty five dollars for the overdraft fee to cover his three dollar purchase. This cannot happen with a prepaid credit card because the card user can only make a purchase equal to amount of money on the card, there are no overdraft fees.
Many people are using the prepaid cards as a means to improve their credit report. Each purchase that is made using the prepaid card is reported to the major credit reporting agencies. Each use of the card helps to build a bill payment history which improves credit worthiness.
Prepaid card users can pay bills online or over the telephone. A prepaid card also helps people establish their credit worthiness. The prepaid MasterCard is an option for those who want the convenience of a debit or credit card but without the fees or interest payments.
