Reloadable credit cards are good options for those credit card users to whom banks and credit card companies will no longer issue a credit card, due to the fact that they have had a shaky experience with handling their finances. These people have become so accustomed to paying their purchases and debts by utilizing their credit cards, that paying something in cash is a new experience all together. This is why the reloadable or prepaid cards would prove to be useful to people who have had bad credit.
Where to Find Reloadable Credit Cards
Reloadable credit cards are often found in department stores such as K-Mart, WalMart, GreenDot, etc. There are also gas stations and vending machines located in shopping malls which provide prepaid credit cards. Another place to acquire reloadable credit cards would be through the use of the internet. There are many websites which sell prepaid credit cards. The most popular are NetSpend and Payoneer.
There are also credit card companies which provide a prepaid MasterCard or Visa credit card. The easiest place to look for such is online. Often, those who are approved for reloadable credit cards under MasterCard or Visa are permanent US citizens that give out specific information such as their address.
How Do Reloadable Credit Cards Work
Some say that prepaid credit cards often make great gifts. However it is different from any ordinary gift card, as it could be used wherever credit cards are accepted, unlike gift cards which are used only for a specific store. The main use of prepaid credit cards is for shopping, so that people would know how to budget and set their limits. Retail establishments which accept credit as payment will also accept prepaid credit cards. However, be wary when using the card, as it has a balance which cannot be maxed out.
Reloadable credit cards could also be spent in paying for bills, paying gas, and making online purchases. Unlike debit cards, prepaid credit cards are welcome in the internet market. A tip before using reloadable gift cards: be sure to register it first to PayPal to ensure a smooth and easy transaction.
Handling Your Reloadable Credit Cards – Prepaid Card Fees
Before buying the reloadable credit cards, make sure to read the terms and conditions that come with the card. There are often extra fees and other charges – like annual fees, reloading fees, and transaction fees – that comes with using the credit card.
Make sure to keep track of your balance. Most prepaid credit cards have a toll free number at the back of the card. This number could be where clients can call in and ask about their balance. Often cards also have an email address where clients can make inquires. The card can no longer be used once it runs out of money. Nevertheless, the credit card can be reloaded. One way is through reloading from the place where it was brought. Clients could also replenish the reloadable credit cards via the internet; they could wire money from their bank account or make use of another debit or credit card. Another way to reload the prepaid card is by calling it in.
The fees of replacing the card might be more than what you would have to pay in reloading it. Do not dispose of the reloadable credit cards or let any merchant keep it when the prepaid card runs out.