Prepaid Credit Cards – How To Choose The Right Account
When searching around for the best prepaid credit card, the main thing to consider are the fees associated with the card. The costs associated with prepaid cards are arguably the main disadvantage.
1) Application Fees
Some providers will charge you for opening an account, some offer free accounts and some accounts can be set up for free provided you preload the card with a certain amount of money.
2) Is there a monthly fee to use the card?
Again, some cards are free, while others make a small charge, perhaps $10-20. If you find a card that charges a monthly fee, find out what you get for that fee. Do they provide online statements, a helpdesk, additional insurance etc?
3) Will you be charged a fee when you load money into your account?
Does it vary according to the method that you use, for example, cash, credit card or bank transfer? And if you deposit money through a bank, supermarket or post office, will they charge you a deposit fee?
4) Will you be charged when you purchase goods and services on your card?
If so, do the costs vary according to the...