Money Transfer by Prepaid Card

Money Transfer by Prepaid Card

Prepaid credit cards, on the other hand, represent the ultimate in cashless convenience and applying for these MasterCard prepaid credit cards is also fairly easy and convenient. There are no credit checks required when you apply for your prepaid credit card. Unlike applying for traditional credit cards, you do not need to have a clean credit record or any credit history for that matter, and these are the perfect credit cards for people with bad credit. This is large because your prepaid MasterCard is not a loan facility and there is no credit being actually taken. What you spend on your traditional credit cards is actually borrowed from your credit card company. When you use your prepaid credit cards, you are spending your own money. This comes from the money that you load into your account before you use it. There are account set-up requirements that you might want to look at before you apply for your prepaid credit card. Most of the time, these credit cards would charge you an application fee and then charge you service fees only when you use your card for your purchases or withdraw from it using an ATM.

These MasterCard prepaid debit cards such as the First Premier Prepaid MasterCard are very much like normal debit cards. You also spend your own money when you use your debit cards for your purchases. The difference is that your debit card has to be linked with a bank account. You do not have to have a bank account to link with your prepaid credit card. You can also load directly into your prepaid debit cards wherever you are. You can even send money abroad through your prepaid credit card. If you check out the fee schedules of most of these prepaid credit card facilities, you will find that it is more cost-efficient to do money transfers using your prepaid credit cards. You also receive your money faster than you would through wire transfer facilities.

Many banks allow you to design and obtain an online prepaid card for their customers. These cards are great for online shopping and work similar to your Master or Visa Credit or Debit card. You just have to input card details similar to as what you would do with your master or debit card. When you use your online card, the money immediately gets deducted from your amount you have topped up into your account and not from your bank account or from a line of credit as long as you have sufficient money in your account.

The cost is going to pile up even more if you have any plans to withdraw travel money from a foreign ATMs using your debit or credit card that isn't designed for overseas use. The real benefits of the International prepaid credit cards shine here. These cards are loaded with funds before you take off for the foreign land. These are an attractive option. This also means you don't have to carry an excessive amount of cash with you or even traveller's cheques. These cards are also a cost effective alternative to using standard credit or debit card.

Prepaid Credit cards or plastic money has become the most convenient method of carrying money in today’s world. These cards offer the flexibility and convenience which money can never provide. Even better than the credit cards, are the Prepaid credit reward cards. These reward cards offer lucrative reward points to their customers which in turn benefits them to a great extent. There is a number of reward Prepaid credit card providing companies in the market but then all of them are not adequately helpful. In order to hit upon the correct type of reward credit card offering company, one needs to carry out a comparative study of the features and benefits offered by different companies.

This comparative study needs to be carried out following a particular pattern. This would mean you would have to compare the services and benefits offered by each and every card and determine whether the services would benefit you anyway. Every reward credit card offers cash back policy as well as useful reward points. But then the degree of benefits that these cards offer are bound to differ. Herein lies the difference between the cards and in order to avail the best you have to be ready for a comparative study.

But then you cannot expect to enjoy these benefits if you do possess a strong credit history. A thorough survey of your credit history would be carried out for granting of a good reward Prepaid credit card. So in order to avail the benefits of these cards make sure you improve your credit history adequately. Not all cards would suit your needs adequately, so if you wish to get hold of the card that suits your personality the most, you need to take care of these associated factors. So, do your share of comparison today and find out the Prepaid card that fits your bill the most.