The Benefits of a Pre-paid Credit Card For credit card holders, the concept of a prepaid credit card may be a new one. But, there are many advantages and benefits these types of cards have to offer, especially to new or younger credit card owners. Prepaid credit cards can teach valuable lessons in how credit cards work, and can put a stop to potential over spending. There are a number of types available to you, the only hard part is deciding which card you like best.
The Visa® Prepaid Cash Card is a payment card that can be given to anyone just like a gift certificate. It acts just like a regular credit or debit card and can be used anywhere Visa is accepted.
Instant Approval Guaranteed*
*The USA PATRIOT Act is a Federal Law that requires all financial institutions to obtain, verify and record information that identifies each person who opens an account. You will be asked to provide documentation as proof of identification. "100% Approval" and "No One is Turned Down" is contingent upon successfully passing this mandatory identification confirmation.
No More Check Cashing Locations
Perfect for all your friends and family
Direct Deposit from your Employer
Low cost fees
No Credit Check or Bank Account Required
No Security Deposits
No Employment Verification
Set up Automatic Bill Payments from your Visa®
Eliminate check-writing hassles
Avoid late-payment fees
Save postage costs and time
The cardholder may only withdraw funds or make purchases up to the balance on the card.
You cannot overdraft the account. There are no late fees or interest charges.
Unlike traditional credit cards, the Impact Visa® Card helps you to budget your money wisely by not extending you credit. Instead, accounts are prepaid for a specific amount while still being backed by Visa® for universal acceptance. There is no line of credit and accounts are only good for the balance applied.
Can't get a debit card because you have no bank checking account? Apply for a pre-paid Visa card and use it like you would a bank debit card.
Need more credit card information? Read our financial and credit articles related to pre-paid credit cards.
Credit
Card
Before
traveling, call the credit card company so that purchases will not be halted due
to fraud measures. This is especially necessary when traveling to a foreign
country. This helps avoid a freeze on a credit card account. There is antifraud software that monitors customers’ spending
patterns. When cardholders stray from usual habits, for example, like making
purchases in another state instead of at a store in the home ZIP code area, it
could be flagged as fraud.
Many
people are glad about this, but others get upset when purchases are denied. In
addition to watching for unusual spending patterns, banks also monitor where criminals use stolen
cards, which can be places like automated payment kiosks in metropolitan areas.
This is why some people have more than one credit card when they travel. It can
be a big problem to unfreeze a card when traveling in a foreign country.
For
people who travel all the time, countries in Europe, Japan, Canada, and Mexico have adopted a
credit card that has a chip. The customer must enter a PIN. Merchants that accept
Visa, MasterCard and
American Express are supposed to let customers pay with either type of
card, yet some employees at stores outside the United States do not always know what to do with the magnetic version.
Another
problem can be that automated kiosks in Europe, may only accept chip and PIN cards, particularly in
train stations, parking garages, gas stations, and some tollbooths. When this
happens, Americans with magnetic stripe cards usually have to wait in line to pay with cash or have a clerk swipe their cards.
These lines can be long and frustrating when trying to catch a train. Some merchants in other parts of the world often have higher minimum-purchase
requirements, to use a credit card or simply do not accept the cards because they
do not want to pay the fees card companies charge retailers. Be sure to contact
card issuers before traveling and check the credit limits on each card.
Credit
Card
Before
traveling, call the credit card company so that purchases will not be halted due
to fraud measures. This is especially necessary when traveling to a foreign
country. This helps avoid a freeze on a credit card account. There is antifraud software that monitors customers’ spending
patterns. When cardholders stray from usual habits, for example, like making
purchases in another state instead of at a store in the home ZIP code area, it
could be flagged as fraud.
Many
people are glad about this, but others get upset when purchases are denied. In
addition to watching for unusual spending patterns, banks also monitor where criminals use stolen
cards, which can be places like automated payment kiosks in metropolitan areas.
This is why some people have more than one credit card when they travel. It can
be a big problem to unfreeze a card when traveling in a foreign country.
For
people who travel all the time, countries in Europe, Japan, Canada, and Mexico have adopted a
credit card that has a chip. The customer must enter a PIN. Merchants that accept
Visa, MasterCard and
American Express are supposed to let customers pay with either type of
card, yet some employees at stores outside the United States do not always know what to do with the magnetic version.
Another
problem can be that automated kiosks in Europe, may only accept chip and PIN cards, particularly in
train stations, parking garages, gas stations, and some tollbooths. When this
happens, Americans with magnetic stripe cards usually have to wait in line to pay with cash or have a clerk swipe their cards.
These lines can be long and frustrating when trying to catch a train. Some merchants in other parts of the world often have higher minimum-purchase
requirements, to use a credit card or simply do not accept the cards because they
do not want to pay the fees card companies charge retailers. Be sure to contact
card issuers before traveling and check the credit limits on each card.
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Tip of the Day: To curb credit card charges, wrap your credit card in a sheet of paper and keep a log of purchases written on the paper, with a grand total of charges in view each time you reach for your card. Before swiping your card, figure out how many hours you'll have to work in order to payoff the charge and jot on the paper: "IOU #Hours of Work". Perhaps seeing how long you'll need to work to payoff the charge will help curb spending.
