Saturday, May 2, 2015

What A Prepaid Card Is And What It Does.

By Brian Moore


Have you ever wondered what a credit card does? Why is it used? What is its purpose? Why is it used by many? How is it used? There are many questions which pop up in your head just by hearing the term credit card. Here is an insider scoop on prepaid credit cards and what they can be used for.

What Is a Prepaid Credit Card. A prepaid card is a way of paying for goods you want to purchase. The card can be used to make payments. The card looks just like a debit card or any other card, but it comes with a spending limit.

A prepaid card can be used in many ways, it can be used at a grocery store, it can be used at a casino, at a gas station or anywhere you wish to make a payment or buy something. These cards are an efficient way to travel around as well, as you do not need to carry a bulk of cash along with you; all money is stored in the card.

Benefits Of The Card. Many prepaid credit cards fall under the co-branded card programs; this program allows the cards to be merged with brands such as MasterCard. Since MasterCard and Visa allow members to use their card from any location it's a popular choice for those who are constantly on the go.

Another benefit of the co-branded card programs is that it allows you to withdraw cash anytime. You may use the card to withdraw cash in the middle of the night as well. The program as well as the card offers the holder 24 hours service non-stop.

Let's Go Online. Since the cards are in the co-branded card programs, this allows you to make payments online as well. Brands such as Visa and MasterCard are widely accepted online. The buyer does not have to worry about having cash on hand in order to buy what he/she wants.

Since the cards come in the co-branded card programs, this allows the cardholder to benefit from more perks. Brands such as Visa and MasterCard are widely accepted online as well, now you do not have to worry about having cash on your hand in order to buy what you want. You can be sitting in Canada and can be ordering something from Africa, it is that simple.

Less Hassles. Money in the form of cash can be hard to roam around with. It is also not safe considering the conditions nowadays. If someone is carrying a bulk of cash, they are easily noted and robbed. On the other hand, those who have the prepaid credit cards are safer as no robber would attempt to steal them. Why? Those cards require special PIN numbers which only the holder has access to. This means without the PIN number, the card is of no use to the robber no matter what amount may be stored in the card.




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