In this modern era of science and technology, it has become necessary for almost all the professionals to have their own credit card or debit card. These cards can be used anytime and anywhere to withdraw some cash or to do some shopping. However, the usage of credit cards is very risky and there are lots of hidden charges involved in this type of plastic money. In order to avoid these types of problems while using ATM or to purchase anything from plastic money, prepaid credit cards are best to use at any time.
Below are some important things that prepaid credit card holders must know about it:
Important Things That You Must Know About Prepaid Credit Cards
- Prepaid credit card somehow works like a debit card, despite of its name “credit”. Prepaid credit card holders can only control the amount which the card holds. Similarly, when you are shopping from anywhere by your prepaid credit card, you are spending your own amount despite of borrowing from the bank. You will have to recharge your prepaid credit card with cash or bank transfer, if the balance in it gets low.
- Prepaid credit cards can be used easily at any ATM machine or shop which accepts the normal debit or credit cards of any bank and every card like Visa, MasterCard and American Express.
- Prepaid credit card allow the users to do the transactions same like credit cards. For example: Anyone holding prepaid credit cards can easily book room in hotel, can rent a car and many other that you are able to do from credit card.
- Paychecks can also be directly transferred in your prepaid credit card.
- In case when the credit history of any particular credit card holder is bad, no bank will issue him a credit card. But he/she can still get prepaid credit card whether the previous card history is good or bad.
- Always check all the options while getting your prepaid credit card of any bank, because some cards have additional option of paying the electricity and other utility bills online.
- There are 4 ways of reloading prepaid credit card: through Bank Transfer, transferring from PayPal account, direct deposit paychecks by employers and fourth one is through prepaid recharge cards available at retail stores.
- It is not necessary that all the services provided by bank to prepaid credit card holders are free or with no charges. In fact, there are different charges depending on the particular bank’s policy on various services. It is necessary to check all of them at the time of receiving prepaid credit card.
- If your prepaid credit card theft or lost, you will have to immediately report it to the customer care center of that particular bank, so that your card could be blocked and the balance will be transferred to new card.