A credit card is pretty much a must-have in today\’s society. Going without one means either always carrying cash, or having to rely on a debit card. Cash is fine, but always running to the bank or ATM is a pain and can rack up fees. A debit card is fine unless overspending is a problem, then one must contend with overdraft fees. The answer to these problems is a prepaid Visa.

A Visa that is prepaid is unlike a traditional credit card because it has a preloaded spending balance determined by the card\’s holder. Purchases are not made on credit, but simply taken out of pre-existing funds. Anyone, regardless of credit history, can get a prepaid card.

Another benefit to this type of system is that there are no interest fees or payments to be made. One\’s credit score cannot be affected by using the card. When the balance runs low the account can be added to with more funds. It really is that simple.

This type of card is also useful for those who have trouble with over-spending their budget. Since the card has a built in balance limit, one cannot exceed the spending limit. And for those who want to limit their spending further, a daily, weekly or monthly spending limit can be imposed (chosen by the cardholder).

Many parents find this type of prepaid spending account handy for their children. In contrast to cash, a Visa that is prepaid can be replaced if lost or stolen and there is a record of all purchases. This can provide some often needed control over a child\’s spending and limit the risk of loss.

Those who travel for business have found benefits with this type of product, too. Many with no access to corporate credit request a prepaid card for business expenses. This means at the end of a trip only an expense report needs to be completed. No more waiting for expense checks to pay off credit debt.

Anyone who feels at risk of theft can take advantage of a unique security aspect of the card. Many use a PIN that will activate and deactivate the account via the telephone or text message. When traveling in riskier areas, such as through an airport or unknown city, the card can be deactivated so even if stolen it cannot be used. A simple text message reactivates it.

Getting one of these cards is easy as they are available at banks and online. Reloading to up the balance can be done via an ATM, online or on the phone. Checking the balance can be done anytime so there are never any surprise rejections when using the card.

Although no interest is applied, there are some fees associated with this product. Issuers either charge a per transaction fee or charge a small amount to activate and reload the card. A good practice is to match the issuer\’s fees with one\’s spending. For example if using the card for frequent smaller purchases, a one-time fee may be most advantageous.

Today no one need go without a means of paying for goods electronically. A prepaid Visa is a great way to get the benefits of a credit card without the hassle of applying and the risk of running up an unmanageable balance. Like any financial product, reading and understanding the account terms and conditions is important.

The leading provider of prepaid credit cards offers a convenient solution for companies to provide payroll or incentives to their employees. Funds are simply transferred onto these prepaid Visa cards for the employee to spend.

The leading provider of prepaid credit cards offers a convenient solution for companies to provide payroll or incentives to their employees. Funds are simply transferred onto these prepaid Visa cards for the employee to spend.For details visit http://www.berkeleypayment.com/ .

Author Bio: The leading provider of prepaid credit cards offers a convenient solution for companies to provide payroll or incentives to their employees. Funds are simply transferred onto these prepaid Visa cards for the employee to spend.

Category: Business
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