Credit Card Forums

[gscs]

I beg you have heard of prepaid credit cards, I have one and use it to pay for online purchases and make credit card purchases without having to spend money I don’t have. The concept is just like prepaid phone or gift cards. A debit card since it is a credit card that offers no credit. Instead, you put money into the card’s account and then your card allows you to use that money.

[CowAdmin]

Prepaid credit cards are definitely a good alternative to cash and I think they can discipline you better about spending as you can not bite more than you can chew sort of speak.

[ValleyMan]

Are these the same as VCC's? I mean one time payment or something similar?

[MasterKard]

I believe they are similar, and might even be the same thing with just a different name for it..

However, no doubt prepaid cards are useful, especially if you buy things online. If you ever find a merchant you are unsure about, it's best to use a prepaid card, that way if you are ripped off, the damage is limited.

If you use your standard card, the damage can be greater and it will create a bad situation for yourself. Also for teenagers, a prepaid card is convenient as they can buy things online without using their parent's card.

[ManilaGurL]

I think I've heard about them though haven't seen one yet. I want to try this one. Does this mean your budget is limited
since it is just a prepaid card?

[ind1an]

i guess they can be called as debit card instead of prepaid credit card !!
or else they can be VCC's

[MasterKard]

Yeah the amount on the card is fixed, unless you add more to it.

That's why it minimizes the risk of getting ripped off by a bad merchant. Let's say you buy some shoe online with that card, and it turns out that the seller is a fraud, the worst he can do is spend the $ left on the account, so if it's only $50, that's the max he can use.

That's why you should only have as much money as you need in those cards, don't overstock them. And once you need more money, then you should refill it.