With the economy in a wreck and a slow growing jobs market many people struggle to get credit. Many creditors have made being approved more difficult or have raised their interest rates astronomically which hurts the average consumer. However, there is a way to have an account and not worry about going into debt or paying exorbitant interest rates. Prepaid credit cards offer consumers a means to economic security.

To get an account in this manner you simply purchase the card, which usually cost around $5.00 and has some type of setup fee. You then deposit money onto the card much like a savings account and then you can start making purchases using this card. These accounts function much like a debit card but are not linked to a bank or savings account.

This type of account allows consumers to determine what their limit is because the cardholder deposits the amount of money they want. This permits consumers who have previously been denied to have an account.

These cards can be bought online or through local merchants or banks. They are easy to buy and easily replenished. You do not have to buy a new card every time you need more money you simply reload your card.

Prepaid services allow the consumer to control their spending while giving them the flexibility a regular card would allow. Anyone over the age of 18 qualifies for a card of this type regardless of past economic history and it is safer then carrying cash. These can be used anywhere regular accounts are accepted.

Like standard cardholders, you can now get these in a variety of formats and designs. The selection is not as abundant as standard forms but there are now many more selection choices on the market.

There are many instances in life that require a card number such as reserving hotels, rental cars, or airline tickets. If you do not have access to this service it is sometimes a struggle to get this accomplished. Prepaid accounts gives you the ability make these reservations.

For those who have bad credit or none some company\’s offer credit building accounts. Building an economic background in this manner helps consumers control their spending while giving them some flexibility however; these creditors have different rules and procedures for accounts that help you economically so make sure you do your research the creditors who offer this type of account.

The main disadvantage to these cards is that if it is lost or stolen you may not be able to recoup your money and only a few allow you to build credit. Banks and merchants have much stricter reporting policies then do regular companies. This makes it more difficult to get money returned to you that was still on the card and you have to be able to prove how much was on the card.

While these prepaid credit cards will not solve all of your problems, they are a good choice for many consumers today. Prepaid cards allow you the flexibility of a regular credit card without the worry of going into debt or over spending because you can only spend as much as you have deposited. Usually the advantages to these accounts outweigh the disadvantages.

For businesses, a Visa gift card is a convenient way to process employee payrolls. Funds are transferred onto these prepaid cards and purchases made are then deducted from the cards balance.

For businesses, a Visa gift card is a convenient way to process employee payrolls. Funds are transferred onto these prepaid cards and purchases made are then deducted from the cards balance. http://www.berkeleypayment.com/

Author Bio: For businesses, a Visa gift card is a convenient way to process employee payrolls. Funds are transferred onto these prepaid cards and purchases made are then deducted from the cards balance.

Category: Business Management
Keywords: business,management,services,credit cards,finance,accounting,gifts,promotion,investment,internet,