There are some things in our world today that are difficult, if not impossible, to purchase without using a credit card. Airline tickets are a prime example. The only way to buy an airline ticket without a credit card is to go through a travel agent. You can pay the travel agent with cash or debit, and they use a credit card to purchase your ticket. Online shopping is also out of the question if you have no credit card, and while your bank account might be all the healthier for it, it can be inconvenient at times.
There are ways to get a credit card even though you do not qualify for a conventional Visa or Mastercard. You can use a prepaid credit card for almost any transaction necessary. A prepaid card works more like a debit card than a credit card, since you must preload it with money before you can use it to make purchases, and when the money runs out you cannot use the card until you load more money onto it.
There are many different brands of prepaid cards, but they all work on essentially the same principal. You preload the card, and then you pay fees for certain things that you do with the card. You don’t pay interest with these cards the way you would with a conventional credit card, but the fee system is often difficult to understand, and there are a significant percentage of companies issuing these cards that fail to fully disclose their fee structure at all. It is important to do some research and choose the best card you can get.
Prepaid cards can do far more than make simple purchases, though. They can work as a sort of bank account for those who don’t have a conventional bank account as well. You can choose to have your whole paycheck direct-deposited onto your card, or use it to transfer money from your bank account onto your card. There are some retailers that sell reload cards, so you could purchase a reload card and have it loaded onto your prepaid credit card right at the till.
In general, prepaid credit cards are not only becoming more popular and convenient to use, but they are being accepted in more places all the time.
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