subject: Explaining The Benefits You Can Get From Prepaid Cards [print this page] If you're someone with imperfect credit you may have trouble getting a traditional credit card. Or, you may only be offered one that has severe terms. This can be an inconvenience since it's not always practical to carry cash.
The good news is that there is are now "no bank account" or prepaid credit cards available. These cards are great because they offer people with no or poor credit scores to enjoy the benefits of using a credit card. No bank account is necessary.
Prepaid credit cards are exactly that. The card holder loads the card with a certain dollar amount before using it. The arrangement is ideal for those who want to put a cap on their spending. It gives them a way to buy things they need but not overspend.
Prepaid cards are often used by those who have been through a bankruptcy. It helps users reestablish their credit history and shows creditors that they can be financially responsible. The credit card provides all the function of a traditional credit card while leaving users within their budget.
If you're in the market for a prepaid credit card you shouldn't take the first one you see. It pays to shop around for the best deal.
The best prepaid card gives you all the things a regular credit card would, such as reward programs and online access. Prepaid cards are accepted virtually everywhere and can be used in an ATM for easy cash withdrawals.
It's a good idea to look for a lender that doesn't charge an annual fee or transaction fees. They should also provide free customer support with a toll free number or online.
There are even prepaid cards that have wireless alert services for card holder. This enables you to keep track of your spending and notifies you when you reach a predetermined amount via text messages or email. This lets you buy what you need and maintain your budget.
