Why choose a prepaid MasterCard debit card over a credit card? Having a credit card has its advantages and its risks. On the plus side, a credit card may make available cash to spend if you’re short of funds at a given time. On the downside, having a standard credit card carries the risk of running up large debts that you can’t really afford.
Yet in much of modern life, a piece of plastic is essential. As an example, it may prove difficult to purchase things over the internet without one. Yet even if you decide to take the risk of applying for and carrying a credit card, you may find that credit history checks are common and some people may not qualify. You also may face fees and charges related to non-payment or late payment of your monthly credit card bill.
So is there a solution to this puzzle? Yes there is and it’s called a prepaid debit card.
The prepaid credit card
A prepaid MasterCard debit card is very similar to a standard credit card except that no credit (and therefore no debt for you) is involved. You have a valid plastic card that has a value that varies depending upon how much money you have loaded onto it beforehand.
So you can load say $20 onto your card and know that you can spend up to $20 on it and no more. It may prove to be an excellent way of controlling your spending.
Useful for children
We perhaps sometimes forget as our children are growing older that more and more establishments are becoming ‘plastic only’ and if they’re out and about they may need a card to help them get by. The prepaid debit card may be a useful way of giving your kids a ‘set limit’ they can spend and no more.
Having cash in your pocket may give you a pleasant feeling but that won’t last if someone steals it from you or you lose it. Having a prepaid debit card means you have spending power on you but if your card is stolen or lost, you only have to make a simple phone call to the card provider to block the card. It also cannot be used to spend more than you have loaded onto it anyway.
Prepaid debit cards are issued by specialist internet providers. Finding out more about a prepaid MasterCard debit card may be a good idea.