Poor credit isn’t the only reason to have a prepaid credit card; however, if your credit is poor, you will benefit from the options it offers. When you’ve made mistakes with your credit in the past and want something you can use to shop online, pay your bills online, or a faster way to pay for gas and groceries, a prepaid credit card is great and will help you. you will save more than if you used a real credit card.

Have you ever heard of the term if you don’t have the cash then don’t spend it? By using a prepaid credit card, you are only spending your hard-earned money, not borrowing the money, paying it back at a later date, and paying interest or an annual fee.

There are two basic styles of prepaid credit cards; one is a reloadable card that is more like a bank debit card. The other is a one-time charge that when the money runs out, the card can no longer be used. Adding cash to the card is similar to having the bank hold your money, but this is more personal.

You add the money, you keep track of what you spend, and you can’t go over your limit where you have to pay fees for spending a dollar too much. If you have no funds on your card, you cannot use it. It is a debt free credit card. The options for putting your cash on a card can help you keep track of your expenses. Without the hassle of high interest and paying a monthly bill you can’t afford.

There are many different prepaid cards available; however, you want to research different cards and find out how much the cards cost for the first purchase. Find out if you get a temporary card with the purchase and get the permanent card after calling or logging into the business or if you should wait for the card after applying online. If you need the card right away, this can help you decide which card is best for you.

If you don’t have a temporary card, you will still have a credit card number that you can use online or over the phone – you won’t have anything to swipe until your card arrives in the mail; in most cases, it will take seven to ten business days. There are also some companies that you can find online that will allow you to apply for the card for free, then you will receive your card in the mail. At that time, you can add money after it has been received.

Monthly fees come with most cards, like a three to five dollar fee to have the card. This is not a high fee compared to a normal credit card. Remember that you are not paying interest on the money you spend with your card. If your prepaid card has a monthly fee of more than five dollars, you need to find out why it is higher than most prepaid cards. You may be paying for an option that you have not signed up for.

You can check your balance online or by phone. However, when you check your balance on the phone, you are probably paying a fee for that option between 25 cents and a dollar, even if you are dialing a toll-free number. This can end up costing you a lot of money if you’re not careful. Another way to check your balance is through a text message, you will send the code to the company and in seconds you will have your balance on your cell phone.

Some cards have limits, like you can only add a certain amount of money at a time, however you can add that amount as many times as the card allows. Some may only allow you to keep up to a certain amount on the card, such as $ 5,000.

Some of the benefits of a select few companies will eliminate the monthly fee if you add up to $ 2,000 in a single month. That will not carry over to the next month, but will instead be added to the month that will give you that option. Plus, you can add direct deposit to most prepaid cards. If you are looking for this option, your card will need a tracking or reference number other than your account number. However, some companies will charge for this too, so be careful.

Some of the cards will charge you an amount each time you add the money to the card and some will not. This may or may not be a deciding factor. If other people may add money to your card, they will be able to do so with cards that cost to add money to your card.

Another option that contains a variety of prepaid credit card companies is a great program to help you rebuild your credit. Each company will offer different options; The rules for this option are basically the same. They will report the good reputation with your card to the credit bureaus each quarter. This is a great way to rebuild your credit. This option costs a small monthly fee, but even if you add this to your card, you will still spend less than a regular credit card.

You can also find prepaid cards that only charge once; These card styles are good for gifts, teens, and even holidays. When the card is empty, you can cut it out and dispose of it. Teens can have a hard time holding onto a credit card if it falls into the wrong hands, takes forever to cancel, get the money back if it was used, or receive a new one in the mail. In addition, they will not be able to exceed their spending limit.

When you are shopping for a prepaid card, remember all the options you are looking for. You may find a combination of options that works best for you. Writing a check is getting stale; the only way to go is quick and easy, swipe your prepaid credit card and be one your way.