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February 10, 2009

Pre-paid credit cards

Filed under: Credit Card — Tags: , , , — admin @ 12:02 pm

Do you want the security of a credit card without the interest rate every time you need to use it? All of the interest rates on a regular credit card can bring you down in debt if you don’t watch what you spend your money on. Some cards offer no interest rates until a certain year, or if you refer a friend you get something, but do you want to refer a friend to an 18.9% interest rate? No one wants to bring a friend into debt, but with the pre-paid credit cards, you don’t have to worry about that.

Pre-paid Credit Cards

Pre-paid Credit Cards

On these cards, you don’t have any monthly maintenance fees or monthly dues. This means, all of the money you put onto the card, that’s the money you are going to have the first time you use or check the balance on the card. These pre-paid credit cards also come in handy for the college student in your life. You can monitor the money you put onto the card and you can load the card from anywhere that sells these card. Now you don’t have to wait for the money when you come home on a college break, you can have the money within minutes after the deposit was made.

Some people think that these cards are no good. According to them, who ever purchase these cards, are wasting money because you need to pay an activation fee at the point of purchase. A $10 activation fee is a small price to pay as compared to the interest rate of the regular credit card. You can put any denomination on these cards, and you can even have your payroll check directly deposited onto the card just by giving your employer a routing number and the account number. If you have your check directly deposited to your checking or saving account already, this is no different because you can choose how much you want deposited in that account. You have total control over this account, just like all of your other accounts.

1 Comment

  1. Hi there, I accidently found your site while browsing around online as I am seeking some information on debt relief!. It is an interesting website so I’ve bookmarked this site and I will revisit you soon to have a proper look when I have more time.

    Comment by Allan Renn — November 28, 2009 @ 1:35 pm

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