Prepaid Credit Cards Ace Prepaid Card ReviewPosted on January 28th, 2011 | admin
Why should you consider prepaid credit cards?
Prepaid credit cards are awesome for staying out of debt while getting all the conveniences of having a credit card such as making purchases online. In today’s economy it’s very important that you stay out of debt and pay for items in cash.
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People that use prepaid credit cards never have to worry about getting into credit trouble. Prepaid credit cards are as good as money in the bank. You have already paid your credit card. A prepaid credit card will give you all the conveniences of a credit card without the worry of overspending on your credit card.
With prepaid credit cards, you will be able to enjoy all the conveniences of shopping online. Since you have already put your money on the credit card, there is one less thing for you to worry about.
A lot of parents will get their kids in college a prepaid credit card for emergency expenses such as if their car brakes down or there’s a school project that requires getting more materials there’s some cash put aside for repairs or buying supplies.
Prepaid credit cards are an excellent way to avoid a debt trap that so many people find themselves in. You will be ahead of the game with a prepaid credit card because you’ll never get in over your head in debt
Here is the Best Prepaid Credit Card to Apply Get
The ACE Prepaid Card is our top pick out of all prepaid credit cards mainly because unlike some prepaid debit Visa cards they don’t have any fees when you direct deposit funds into your account. It is absolutely ludicrous for you to pay fees to deposit money onto prepaid credit cards!
Ace Cash Express Prepaid Card Benefits
- NEW and IMPROVED!
- Join the millions that believe in our convenient alternative to cash
- A card with benefits that matter to you
- NO credit check, No application fee, NO obligation
- NEW Exclusive benefits for Direct Deposit customers: $10 Purchase Cushion, Opt-In Overdraft Protection, and No-Fee Cash Withdrawals at ACE locations*
- FREE unlimited purchase transactions with paid enrollment in FeeAdvantage Plan*
- FREE Direct Deposit- Get paid up to 2 days faster, don’t stand in line or pay check cashing fees*
- FREE Anytime Alerts™ – Get your balance and transactions via text or email
- FREE Savings Account – Receive 5.00% APY*
- SECURE: Card funds are FDIC insured, backed by Visa Zero Liability*
Prepaid Credit CardsPosted on June 17th, 2010 | admin
Stay Out of Debt with Prepaid Credit Cards
Prepaid credit cards are mainly for people with bad credit but because we live in a time where you have to use a credit card at a parking meter, we are moving closer and closer to a truly cashless society and that means you can not live without plastic in your wallet. This means that people that want to avoid getting deep into credit card debt and don’t have a credit card are being forced into a position where it’s no longer possible to get by without one, if you are one of those wise people that wants to stay out of debt but realize you are going to need a card then prepaid credit cards are the perfect option for you.
Prepaid credit cards are essentially the same thing as a debit card however they are issued by Visa or MasterCard and can be used exactly the same way as a regular unsecured credit card.
I have talked about the biggest advantage of having a prepaid credit card is the fact you can never get yourself deep into credit card debt because you simply don’t have a line of credit, the only credit card spending you can do is what you have paid in advance.
The downside of prepaid credit cards is you typically can’t build or establish your credit rating because in order to build your credit rating you actually need a line of credit.
If you have no credit or bad credit and you want to get a credit card to establish a credit history then you should apply for a secured credit card. The difference between a secured credit card and a prepaid card is a secured credit card issuer will provide you with a line of credit however the issuer will take a security deposit which you don’t have access to and the amount of the deposit will be the same amount your line of credit is for.
For example let’s say you wanted a credit card with a $1,000 credit limit, when you apply for a secured credit card they will take a $1,000 deposit and that deposit is not used to pay your credit card bills. The deposit is held by the bank in the event you fail to pay your bill.
If you applied that same $1,000 to a prepaid credit card, you will be able to spend the $1,000 you deposit on the card and you will be able to use your card until your account balance is zero. Once you’ve spent the funding on a prepaid credit card you can’t use it again until you make another deposit.