The use of prepaid cards has become recognised as a secure and convenient alternative payment option to supplement your traditional payment methods. In addition to granting its user a supplementary option to using cash, prepaid cards also perform comparably to conventional debit or credit cards. This means that prepaid cardholders can make in-store purchases, withdraw cash from ATM machines and execute online purchases as traditional credit cardholders can perform. Presented below are five fundamental reasons why you should consider applying for a prepaid card today:
1. Credit Checks are not required
Have you ever wondered: Will a prepaid card application appear on my credit report? The answer is no. In case you may be in the situation of having bad credit or otherwise no credit history to present, securing approval for a credit card is troublesome or otherwise unattainable. This is where prepaid cards are an asset to use over other options, as they do not require a credit check or any additional financial history. The lowered requirements to obtaining prepaid cards makes them an appealing and convenient option as almost any interested applicant can acquire one to perform the same tasks and be used in the same locations that a regular Visa or MasterCard can be used.
2. Prepaid Cards Encourage Budgeting
The use of prepaid cards as a budgeting method makes it simple for cardholders to follow both their intended weekly and or monthly budgets. This is due to the advantage of being able to set a shopping budget where you can easily load the necessary amount of money into the card to fulfill the required expenditures. Additionally, if a prepaid card user desires to financially provide support to a friend or acquaintance, they’re able to safely and securely allow them access to money while guaranteeing that they do not overspend beyond the formerly established budget. [Read more…] about Everything You need to know about Prepaid Cards – The Best alternative Payment Option