insights you need to know about prepaid debit cards

Insights You Need to Know About Prepaid

Debit Cards

Discover some basic facts as well as the advantages and disadvantages linked with the use of this prepaid card

program.

A prepaid debit card is a very unique card program.

The reason for this is that this card is actually a combination of a credit card and debit card.

Now what are the advantages of getting

a credit card for bad credit?

And, what about the drawbacks of using

prepaid debit cards?

Benefits and Drawbacks Associated with Prepaid Cards

Advantages

This card is actually a good tool in budgeting and managing your finances.

You will also realize that a prepaid debit card can actually protect you from identity theft and from losing the money you have in your bank account.

After all, your prepaid card is not linked to your bank account and it is PIN-protected.

Disadvantages

Some of the disadvantages

associated with the use of this

credit card for bad credit

include: numerous fees and

charges, no interest earned on

the initial deposit, and its

exclusion from the Consumer

Credit Act.

Consumers with poor credit

ratings cannot use prepaid

debit cards to repair bad credit

history.

So even if you will responsibly manage a prepaid card

account, it will have no impact on your credit profile and it

will not even help you repair a bad credit standing

Still, it is important to note that the beneficial features of prepaid debit

cards normally outweigh their drawbacks.

So, you can still have the assurance that this card will work to your

advantage.

Resources:

http://www.badcreditresources.com/articles/insights-you-need-to-know-

about-prepaid-debit-cards/

Insights You Need to Know About Prepaid Debit

Cards

Manage Spending With Prepaid Debit Cards

http://www.badcreditresources.com/articles/control-spending-with-prepaid-

debit-cards/

Contact us:

https://twitter.com/BadCreditExpert

https://www.facebook.com/BadCreditResourc

es

info@badcreditresources.com

1-800-308-7160

www.badcreditresources.com

http://www.youtube.com/user/badcreditresourc

es