What Is A Prepaid Credit Card?
Generally a prepaid card is used for making payments and can be easily loaded with the desired amount of money by the cardholder. A prepaid credit card looks similar to a common credit or debit card along with a signature lining, the company branding and the card number. However, these prepaid credit cards are a bit different from the normal debit or credit card in a sense that they do not provide the cardholder with the facility of a line of credit. Usually these cards are Prepaid Maestro card or a Visa MasterCard.
Prepaid credit cards are completely in control of the user and the account for the particular prepaid card can be conveniently opened by giving a deposit to the credit card company. The deposit in turn serves as the credit limit of the prepaid card. As per the requirements and desire of the user, the particular amount of money can be added to the card and the amount deposited in the account can be further spent by the user.
In case the cardholder tries to spend more than the actual limit of the prepaid credit card, the action is denied. In a way, these types of credit cards work as the best option for those who are looking forward to build credit.
Features Of Prepaid Credit Cards
Another striking quality of the prepaid credit cards is that the user cannot avail the service of borrowing money but can use the respective Maestro or Visa MasterCard in any part of the world. As these prepaid credit cards can be easily used by the cardholder, there are a few attractive features that come along with these cards. They are:
1. Telephone shopping
2. Mail order shopping
3. Land based shopping
4. Internet or online shopping
5. Topping up amount in mobile phones
6. Paying bills
Our Compare Money Transfer UK, compares prepaid credit card to inform you of the best alternatives to transferring your cash. Prepaid credit cards are pay as you go cards, No credit checks, No bank account required, All you need is your ID to get a prepaid credit card.
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