For many years, credit cards have been the top payment option for many consumers the world over. Its popularity however is not really surprising if we take into consideration the many peerless benefits they offer. However, credit cards have one major downside—they are not easily obtainable.
Fortunately, nowadays, people have other amazing options available at their disposal when they can’t get their hands on a credit card. Case in point: for countless people, a prepaid card is an equally appealing if not a way better alternative.
What’s even more exciting? Aside from the typical prepaid card that can be used for transactions within the country, there are also international prepaid cards which can be used when traveling abroad.
Just like prepaid cards, international prepaid cards have also earned quite a following thanks to the peerless ease and convenience they offer. Come to think of it, even when outside the country, you can still use the card for transactions at restaurants, shops, and even ATMs. In addition, prepaid cards can also be used for online purchases.
While prepaid cards have many benefits that are hard to resist, some of the most remarkable are:
They are easy to obtain
Unlike credit cards, prepaid cards are way easier to obtain. For starters, you don’t have to go through those time-consuming and annoying credit checks just to get one. This also means even people with credit histories that are less than desirable can still have access to prepaid cards.
But that’s not all. It is also reassuring to know that individuals who want to have prepaid cards don’t need to go through meticulous screenings that’s often associated with credit card applications. Also, those who use prepaid cards can manage their money more effortlessly as spending stops automatically once all the balance in the card has been used up.
They are convenient to use
As mentioned earlier, one of the most enticing benefits prepaid cards offer is peerless ease and convenience. Case in point: just like credit cards, prepaid cards can also be used to make online purchases. That’s one feature not many cards offer.
With a prepaid card, you can effortlessly do all your shopping right in the comfort of your very own office or home. That means you can shop to your heart’s content wherever and whenever you may be!
They can be an effective tool for those who want to manage their money
Those who are looking for an effective tool that can help them manage their money accordingly and curb overspending can also turn to prepaid cards. Unlike credit cards, prepaid cards don’t have credit capabilities.
You are limited to the balance that’s available on your card. That means once the balance has been depleted, you’ll be forced to stop using the card until such time that you are able to load money onto the card again.
Other users also treat their prepaid cards as a separate bank account. They’ll load money set for a particular project and dedicate the money and spending on the project alone. This makes it easy to separate money intended for a particular project from their overall spending.