Bad Credit- Not employed- Get Your Card Credit Instant Prepaid
Prepaid cards, although they’re comparatively new, are becoming more popular. Many local stores offer ‘prepaid gift cards’ - you may have already used one! But prepaid payment cards aren’t just limited to these gift cards. Individuals with a low score or with no employment can have a prepaid card to replace cash and even make purchases online.
Prepaid cards can be used in many ways, from sending money to family and friends, handling travel funds, and even online shopping. Instead of using cash, gift certificates or cheques, prepaid cards may be a safer alternative.
The Differences between Prepaid Cards - Bank Debit Cards & Credit Cards:
Prepaid Debit Cards - main features:
*No credit checks due to the fact that you are fornally requesting for a line of credit (so no borrowing and no debt). *There are no interest charges. *No employment verification carried out. *Only some fees may be charged depending on the card. (Just read T and Cs carefully where they will be clearly explained.) *You only need to disclose basic customer details. *If under 18, OK. *Can be used worldwide,wherever Visa - MasterCard and/or Maestro are accepted, depending on the brand mark on your card. *Can be used at ATMs. *Usually, includes free bill payment service meaning that you can pay anyone online or over the phone. *Can be cancelled/blocked if stolen or lost. *Many also offer free rewards programs (you can redeem your points for free music downloads, purchases of gift items, etc.)
Bank Debit Cards - main features:
*Credit history check to open the bank account to which the card is linked. *Account may have an overdraft facility. *Interest charges may be incurred on money borrowed against an overdraft and with no interest free period. *Fees if you go beyond an agreed overdraft. *Full disclosure of customer information is required. *May be used wherever Visa - MasterCard and/or Maestro are accepted, depending on the brand mark on your card. *You can used at an ATM. *Can be blocked or cancelled if lost or stolen.
Credit Cards - Main features:
*Credit history check to approve card, decide credit limit and set interest rate. *Line of credit normally can be increased over time. *Interest charges may apply on money borrowed against the credit limit, if there is an outstanding balance after the interest-free period. *Such charges as late payment fees, over-limit fees, cash advance fees, foreign exchange charges, duplicate statement fees and nonactivity fees. These are explained in the T and Cs for each card product. *Require full customer details. *Must be over 18. *May be used anywhere Visa or MasterCard is accepted. *Can be used at ATMs. *Can be blocked or cancelled if card is lost or stolen.
Who can make good use a Prepaid Card? Prepaid cards can be obtained by people who have less than perfect credit or do not qualify for a bank account. People who do not want to carry large amounts of cash. Backpackers and working tourists. A person who wishes avoid paying credit card interest charges. Parents who would like to give their children secure and controlled spending capabilities. Cardholders who would like to plan and budget their finances. People travelling overseas. Employees wishing to disperse funds onto these cards, lowering payroll distribution costs, simplifying bank reconciliation, decreasing fraud and eliminating lost cheque cancellation and replacement. Low-cost money transfers. An additional card may be added to send to a relative or friend within the country or overseas.
In essence, Prepaid Cards are a secure substitute for cash, cheques and gift certificates. They provide a number of benefits. And they are available to almost all individuals including those whose credit history is less than perfect and have no chance of qualifying for a standard credit card.
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