Prepaid Mastercard Keeps Your Finances Under Control!
Do You Use A Prepaid MasterCard?
Do You Use A Prepaid MasterCard?
A prepaid MasterCard can be used like a debit or credit card and it is accepted in most places that accept payment by credit or debit card. Many people choose the prepaid card because they believe this type of card offers advantages that credit and debit cards do not. Some people do not carrying cash in their wallet or purse.
Some people like carrying a card rather than money because they think it is safer than carrying cash. People can enjoy the same convenience of a credit or debit card by carrying a prepaid card. The major advantage the prepaid master card option has is that there are no fees associated with it as there are with the credit or debit option. The credit card companies charge an annual fee to use their card and they charge an interest rate fee on all outstanding balances.
People who use debit cards are subject to overdraft fees. Some banks charge incredible overdraft fees, even as high as thirty five dollars no matter how small the overdrawn amount. One user reported having to pay thirty eight dollars for one cup of coffee.
His account was overdraw when he used his debit card to pay for the cup of coffee. The overdraft fee was thirty five dollars. This cannot happen with a prepaid credit card because the card user can only make a purchase equal to amount of money on the card, there are no overdraft fees.
Many people are using the prepaid cards as a means to improve their credit report. Each time the card is used the purchase is reported to the major credit reporting bureaus. Each purchase builds a bill payment history which can improve the card users credit score.
Prepaid card users can pay bills online or over the telephone. A prepaid card also helps people establish their credit worthiness. Prepaid MasterCards can be used just like a credit or debit card. However, people who use the prepaid master card do not pay fees such as interest or overdraft fees.
by: Joe Martyn
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