If you have less than stellar credit, but still need to make purchases occasionally with a credit card, a prepaid card may be a good option for you. A prepaid credit card is backed with cash, so there’s no need for a credit check, and no interest to pay. Prepaid credit cards also make a convenient gift option, allowing the recipient to choose what type of gift they would like to have.
There are quite a few things in life that require a credit card. Hotels, rental car agencies, and some other businesses simply prefer plastic. It’s not always convenient or safe to carry cash, and dealing with sorting bills and making change can be a hassle. A prepaid card allows you the benefits of a credit card, without any of the inconveniences.
With a traditional credit card, each purchase that you make accrues interest until you pay the balance off in full. Late fees, over the limit charges, and high interest rates can make a small purchase into a very expensive proposition. When you choose to use a prepaid credit card instead, you’re backing the purchase with cash that you’ve put on the card up front. This means that there are no finance charges, no interest, and no high fees to worry about.
Prepaid credit cards also make great gifts. You may not want to send cash through the mail, or you may simply want to give your loved one a classy looking gift. Instead of giving a gift card that can only be used at the store from which you purchase it, consider purchasing a prepaid credit card. Your recipients end up with exactly what they want, and you’re saved the stress of shopping. A prepaid credit card gift offers security and convenience in one beautiful little package.
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