Prepaid cards – how useful are they?

09 April 2013 - Mark Maffia


Prepaid cards – how useful are they?

Nowadays life without a credit or debit card has become almost unimaginable. There are numerous benefits, like shopping on the Internet, booking events or renting cars, all of which are hardly possible if one doesn't have plastic money.

To be able to apply for a credit card it is necessary to be over 18 years old, have a bank account and to show a good credit history. Credit cards are a little bit like loans with the difference that you have to make a minimum monthly payment, depending how much you have spent.

Credit cards in spite of a bad credit history?

People with a bad credit history will find it difficult to be accepted for a credit card. This is because one would mean a higher risk to the credit card company – but it also would be a higher risk for oneself because it would mean the danger of ending up in debt.

Prepaid Cards can be the solution

Having a bad credit history does not mean having to do without the benefits of plastic money: Prepaid cards are the perfect solution. Prepaid cards are indistinguishable from traditional credit cards, and they can be used exactly in the same way. You can use it in shops, pay in restaurants, shop on the Internet, use it in cash machines, there is in fact no difference at all in their acceptance around the globe, and you will be the only person who actually knows that the card you present is not a normal credit card.

What is the difference?

A prepaid card, although being used exactly like a credit card is not a credit card at all as there is no credit given. Before being able to use a prepaid card one has to, as its name suggests, load the card with money before one can use it. This is not only useful if you cannot get a credit card but it gives everybody the possibility to keep a clear overview on to one's outgoings and thus keeping control of your financial situation. With a prepaid card you can protect yourself from overspending.

There are more benefits

Prepaid cards are ideal for travelling. Loading a prepaid card exactly with the travel budget again will protect one from spending too much money. A prepaid card also is an ideal way for young people’s pocket money, as it is issued already for people under 18 years old, and it also can be used for employers to pay wages.

How to apply for a prepaid card

Just look around on these pages, compare different fees and conditions that apply directly online



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