11:29 16 April 2013
If you are a little leery of a credit card, there’s a beneficial alternative. Prepaid credit cards allow you to make purchase at places which require credit cards, such as hotels, and may also report financial payments and responsibility to assist your credit score. This depends on the type of prepaid credit card you get and whether it is a “secured” card or a simply “prepaid” card which can be purchased in certain shops.
The benefits of prepaid credit cards:
Each prepaid credit card may be a little bit different than the next, so it’s important to read the fine print, or the insert that you receive with the purchase of a card. Here are a few things you may encounter.
In fine print for prepaid credit cards:
In short, there are many benefits to prepaid credit cards as long as you are aware of the specific quirks of the card you have. As long as you are aware about that, you’ll be able to manage your card to maximize your funds. These are ideal for gifts, or short term spending money to help you stay within a budget.
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