The words "free" and "prepaid" their eyes can shine, and it is no wonder that these new types of credit cards are quickly becoming one of the hot new items in the world of credit cards. They give you immediate permission to spend. They have a long application process. And you do not even need a bank account to get one.
1. No free lunch
As the saying goes, however, sounds, if it is too good to be true, then it is likely. In this case the word is only partly correct. So, here is our first tip for shopping for prepaid credit cards to know what you are getting into. The free prepaid credit cards can be the best option for people who would otherwise have trouble getting traditional cards, either because they have bad credit or no credit. They act as a credit card and a debit card. But they are not free. Have a downsidethese card free of charge high fees and fines.
2. Read the small print
So before dealing on these cards, make sure to check the small print. Compare the options to find out which is the best rewards program, the prizes were given for the best money spent on the card. Like credit cards, these prepaid cards allow you to earn more than these awards, earn more money, and remove the cards.
3. Compare the prices
On the negative side of things, the cost of the cards compare. Some cards can cost starting from $ 20 just one start, as well as monthly maintenance fees and fees to add and retreat. These cards can also discuss accounting fees or receive a printed copy of your statement. While this amount of money, even if the cost is only a few dollars. So for the least possible cost.
4. This money is not a monopoly
Another tip to consider with prepaid cards is that they seem like a good way to spend less money than normal cards. After all, the money is already added to the card, so it is normal to spend, right? However, do not leave this thread setting to the excessive use of the card since only more money will be added at the end and more expense, long-term card output.
5. Look facilities
There are positive things to keep in mind when shopping for prepaid credit cards. Many of them not only offer rewards programs but the liability protection against zero fraud, meaning that you are not responsible for someone else to commit your card against your permission or to steal card and credit card fraud.