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Thursday, 23 April 2015

What Is A Prepaid Card And What Does It Do?

By Kurt Klein


You must have seen a small plastic card in the hands of your parents, co-workers, and strangers as well. Those small plastic things are called credit cards.

Prepaid Credit Card. A prepaid card is a method from which you can make payments for purchases you wish to make. The card may seem very ordinary but in fact you can use it to access your bank account without having to go to the bank. The card looks like any other card including debit cards but they come with a spending limitation which cannot be exceeded.

A prepaid card can be used in many ways, it can be used at a grocery store, it can be used at a casino, at a gas station or anywhere you wish to make a payment or buy something. These cards are an efficient way to travel around as well, as you do not need to carry a bulk of cash along with you; all money is stored in the card.

Benefits Of The Card. Many prepaid credit cards fall under the co-branded card programs; this program allows the cards to be merged with brands such as MasterCard. Since MasterCard and Visa allow members to use their card from any location it's a popular choice for those who are constantly on the go.

Another benefit of the co-branded card programs is that it allows you to withdraw cash anytime. You may use the card to withdraw cash in the middle of the night as well. The program as well as the card offers the holder 24 hours service non-stop.

Let's Go Online. Since the cards are in the co-branded card programs, this allows you to make payments online as well. Brands such as Visa and MasterCard are widely accepted online. The buyer does not have to worry about having cash on hand in order to buy what he/she wants.

Because the cards are in the co-branded card programs, you can use them to make payments online as well. Brands such as Visa and MasterCard are widely accepted online as well, so you do not have to worry about having cash on hand in order to buy what you want.

No More Drama. Money in the form of cash can be hard to roam around with. It is also not safe considering the conditions nowadays. If someone is carrying a bulk of cash, they are easily noted and robbed. On the other hand, those who have the prepaid credit cards are safer as no robber would make attempts to steal them. Those cards require special numbers called PIN which only the holder has access to. This means without the PIN number, the card is of no use to the robber no matter what the amount may be stored in the card.




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