Prepaid Debit Cards Reviews
A Prepaid Debt card is VISA or Mastercard that you load up with credit using physical cash or card at a supermarket and other locations also load with other funds via the Internet. (Also known as pay as you go or payment advance.)
(also known as prepaid credit cards or stored value cards)
Prepaid Debt cards are great way to take advantage of the convenient credit cards like Visa or Mastercard without the need for a credit check or other intrusive checks. Online purchases like Ebay and Amazon can be made easily where a credit card is required.
There are lots of advantages and disadvantages when it comes to prepaid debt cards, the most major one is the fees associated. There a lots of hidden fees that people should be aware of before purchasing a new prepaid debit card, the fees vary from provider to provider, so it is extremely important that you read all the terms and conditions when ordering or purchasing.
The disclosures and terms and conditions can be found at the place where you get the prepaid card or can be downloaded from the company’s site. It is always a good idea to print out the terms and disclaimers so you can go over them with a highlighter pen and highlight the terms that are most likely going to affect you, and hopefully avoid the fees.
- Can be used in an ATM, EFPOS machine anywhere in the world.
- You only spend money you own.
- No Credit checks
- Fees can be high
- Money can expire over time. (read the terms)
- Recharge of the card with cash can only be done at selected locations.