Banks' New Money Machine: Prepaid Cards

Gus Artiles used to wait anxiously for the mail carrier on Friday afternoons, hoping his California state disability insurance check would arrive before his bank closed for the day. Now Artiles, 54, doesn't worry about the the mail. By Friday morning, Bank of America (BAC) automatically loads his funds onto a prepaid card, which Artiles uses to buy groceries and gas like a regular debit card. "It's a beautiful thing," he says. "It's more convenient, and you get your money a lot faster."

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• Secured Credit Card Applicants
• Prepaid Mastercard

Five Pointers on Using Prepaid Gift Cards

1. Watch out for common prepaid gift card scams. Most prepaid debit cards and prepaid credit cards are well exposed in display stands in shopping centers and department stores. And this makes it very easy for con artists to perform fraudulent activities. Imagine by simply using the details and expiration dates on the cards that they have seen, they can eventually claim the cards their own. And they can even run large balances on cards that they do not physically possess.

So to avoid being ripped off by gift card scams, you must resolve to buy prepaid cards only from vendors that keep their cards behind the counter and out of sight of consumers.

2. Be careful when buying online. Remember that con artists have also infiltrated the realm of the World Wide Web. And if you will not be very careful, you can still end up succumbing to the fraudulent online activities employed by scam artists. So, before signing up for a purchase, make sure that the online company you plan to do business with has a license or accreditation with the federal government and other accrediting bodies. This way, you can have the assurance that the online vendor you plan to deal with will handle your prepaid debit card or prepaid credit card information with utmost confidentiality.

3. Load a substantial amount on your card. Always remember that prepaid debit cards and prepaid credit cards impose charges every time you load money onto your card account. So, as much as possible load at least $100 to $200 at a time. This way, you can avoid making substantial payments on re-loading fees and charges.

4. Keep track of your balance. Companies that offer re-loadable prepaid cards usually provide online banking services to their clients. So take advantage of these platforms so that you can constantly monitor the available balance you have on your prepaid card account.

5. Protect your gift card. Bear in mind that your prepaid debit or credit card contains substantial sums of money. So treat it like cash and keep it safe all the time. Never let it out of your sight especially when you make purchases and pay your bills, either through offline or online shopping portals.

Should I Get A Prepaid Credit Card?

Pre paid credit cards are growing in popularity today since they are technically much easier to avail than regular credit cards. However, unlike a regular credit card, a prepaid card does not give its holder the privilege to make advanced purchases that are payable at a later time. And since the cardholder is not provided with a credit line, issuers of prepaid credit cards are more lenient in approving applicants. In fact, anyone can easily get a pre paid credit card without worrying about the status of his/her credit history.

Who Should Get A Prepaid Credit Card?

Who are the best candidates for owning a prepaid credit card? Today, there are prepaid credit card issuers that provide credit reporting service t the major credit bureaus. Hence, prepaid cards can now be used as tools for establishing credit history or for repairing bad credit history. Despite the limitations, not having a credit limit can actually help the cardholder exercise control over his/her spending and avoid debt accumulation.

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What are Prepaid Cards?

More and more cardholders are currently ditching their regular credit cards and switching to the use of prepaid debit cards and prepaid credit cards. What could be the very reason behind this shift to prepaid cards? And what benefits can you get from using prepaid cards? Allow us to discuss the answers to these questions in the next portion of this short article.

What are Prepaid Credit and Debit Cards?

Prepaid card programs are able to change the way people spend. Through prepaid debit cards and prepaid credit cards, consumers are able to achieve their goal of spending only within their means. How are they able to achieve such goal?

Well, prepaid programs require cardholders to load money onto their respective plastic cards, before they can be allowed to charge their purchases and payments on their prepaid debit cards or credit cards.

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Tips in Choosing the Right Prepaid Cards

A lot of consumers admit that they have the tendency to purchase and take things on impulse. They do not think twice about immediately buying the merchandises that appeal to them. However, after some time, they regret their instant decisions of getting and buying the products and services offered to them.

Such situation may also apply when you shop and get prepaid debit cards or prepaid credit cards. It is not wise to take the very first prepaid card program offered to you. Instead, it is recommended that you take your time in shopping and comparing different prepaid programs that are provided and issued by banks and card companies. You need to display a great deal of diligence and patience when you go out and select the prepaid card that will work to your advantage. This way, you can succeed in choosing the right prepaid debit cards or prepaid credit cards that will suit your needs and of course your finances. And you won't have regrets after you have settled for a particular prepaid debit card or credit card.

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Prepaid Phone Card Tips for Consumers

If you are one of the millions of consumers who are using a prepaid cell phone plan, this article was written just for you. Read on to find out how you can save more by using your prepaid phone the smart way:

Get a prepaid plan that’s right for you. Prepaid phone plans vary depending on the carrier or service provider. A phone plan that works for one person may not be practicable for another. If you are a post paid phone user who wants to switch to a prepaid service, do research and comparison diligently. When comparing, carefully consider whether the inclusions of the package go well with your lifestyle and personal needs.

Do not overload. Prepaid phones are reloadable using call cards. Prepaid phone call cards come in different denominations ( $10, $20 to $100 and up). Before loading a new call card to your phone, make sure that you are aware of the expiration period.

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Prepaid Debit Card Penalty Fees to Watch Out For

Buyers these days ought to move prepaid as opposed to subscribe to a post paid cell phone plan. As you are planning to acquire a prepaid cell phone, do you know the aspects that you need to take into account prior to choosing prepaid phone service provider?

Cost per call. As soon as you get hold of your prepaid phone kit, this is often pre-loaded along with minutes of calls and text messages. The moment you consumed the available balance, you have to reload the cell phone to make new calls and send a lot more text messages.

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Prepaid Debit Card Penalty Fees to Watch Out For

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In Search for the Best Prepaid Credit Card

Trying to find the best prepaid credit card in the market can be a big challenge. If you do not know exactly what you’re looking for, you may find it difficult to do comparison. If you’re not familiar with prepaid credit cards, read on to find out how you can make the right choice.
Important Factors that Must Influence Your Decision

What factors must influence your decision in getting a prepaid debit card? First, you want to go with a prepaid card that is supported by a major processing company like Visa and MasterCard. These two credit card processing companies are the two leading names in the market.

Prepaid cards with Visa or MasterCard logos are widely accepted anywhere in the world. Cards that bear the Visa or MasterCard logo can be used wherever credit cards are accepted. It can also be used for buying products and making reservations online.

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Prepaid Debit Cards – The Perfect Credit Card for Teens

Parents are often uncomfortable with the idea of their kids having their own credit cards. But if you have a child who’s about to enter college, this is the perfect time for them to learn about how to handle credit and debt repayment responsibly. More importantly, this is their chance to build their personal credit history so they can be prepared for the financial challenges they will face in the coming years.

In this article, let’s talk about prepaid debit cards and how these cards can be the perfect tools for building early credit history and for teaching kids about proper credit management.

Prepaid Cards – How They Work

Prepaid debit cards are another form of cashless payment. These cards can be used for buying items in stores, supermarket, diners, and other establishments. Prepaid cards can be used to shop online as well. What makes it different from a traditional credit card?

As a prepaid cardholder, you will not be given a credit line. This means, you need to deposit cash into your account before you can start paying with your debit card. When you run out of funds, you will not be able to charge expenses to your card. You must submit a new deposit before you can shop with your debit card.

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Can You Really Stay Away from Bad Credit with Prepaid Credit Cards?

As the name suggests, prepaid credit cards are paid in advance. Instead of purchasing in advance and paying at a later time, a prepaid cardholder is expected to pay first before charging purchases to his/her card.

Today, prepaid credit or debit cards are increasing in popularity. More and more people prefer to get a debit card than a regular credit card to keep away from bad debt. But can you really stay away from bad credit with prepaid debit cards?

Who Needs A Prepaid Card?

Prepaid cards are wonderful tools for teenagers or students who need a cashless mode of payment. Parents can also send monthly allowances for their teens using a prepaid account. These special cards are great for people who cannot qualify for standard credit cards because of a bad credit history. More importantly, prepaid cards can be used to rebuild damaged credit.


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Tips on Buying Prepaid Calling Cards Online

Prepaid call cards are used to make calls from wireless cellular phones. These cards have a lengthy expiration period so they can be purchased in advance and used at a later time. Prepaid cards can be bought over-the-counter and also online. Today, let’s discuss the advantages of buying prepaid call cards from the internet along with practical tips on how to buy.

Why Purchase Online

It’s quick and convenient. Obviously, buying over the internet is easier than having to go to the store to purchase over-the-counter. As long as you’re connected online, you can simply visit a retailer’s website and click on the card you want to buy.

Get the best rates. You are guaranteed to get the best rates from online retailers. Online merchants can afford to sell products at much cheaper prices because they have lower overhead costs.


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Prepaid Phone Cards – A Partner In Tough Times

Do you have friends and family who live in another State or country? If yes, there is no doubt that you want to keep the communication lines open despite the length of distance. Thanks to telecommunications technology, communicating with our friends and loved ones is possible using a landline phone.

However, if your phone bills are starting to get in the way of your budget, it’s about time to find better ways to keep in touch. The good news is that today, consumers can make calls using prepaid wireless cellular phones. Unlike a landline or a planned cell phone package, prepaid wireless phones do not charge monthly flat rate costs. Instead, you only need to pay for the minutes you used with no additional fees or charges. What other advantages can you enjoy from using a prepaid phone? Consider the following points:

Enjoy lower call rates with prepaid phone cards.

Most wireless Carrier services charge calls per second, not per minute. Thus, calling long distance from a prepaid phone is generally cheaper than calling from landline. Prepaid call cards are also available in various denominations so you can purchase one that fits your budget.

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