Prepaid Credit Cards - No Strings Attached

It's all about power, convenience, flexibility...the freedom to spend what you want, where you want, without racking up any debt along the way. Prepaid credit cards provide the ease of shopping with a credit card minus the many hassles and hidden fees. These prepaid cards appear and act very much like credit cards while they actually function in the same way as debit cards. Credit limit is completely subjective, as cardholders designate the card's credit line by transferring their desired funding to the card.

Like store gift cards, the value of the prepaid cards depreciates with each purchase. Once all the funding carried on the card has been exhausted, consumers may choose to replenish the card with new funds or merely open a new account with a different prepaid card. These cards allow for quick and easy spending at home or abroad, no matter how good or bad a consumer's credit history might be.

Due to their standard appearances, prepaid cards look identical to normal credit cards. Just by looking at them or using them, one would never know that a prepaid Visa® or MasterCard® was not the real thing. Better still, once a cardholder opens the account, pays the set-up fee and adds his or her desired funding, worries of credit card debt, interest rates, finance charges and other sneaky terms of agreement don't even come into play.

However, potential cardholders should be aware of an obligatory set-up fee that may range anywhere from $5 to $50 just for opening the prepaid card account. When a cardholder transfers additional funding to an expired card, he or she will also be slapped with a nominal fee of at least $5 each time funding is added. Similar to the annual fee required by some standard credit cards, these fees are charged for the privilege of carrying the card in one's wallet. Additionally, overlimit fees and ATM fees may also apply.

Prepaid credit cards ideally accommodate teen spending and traveling expenses for just about anyone. Furthermore, this handy form of plastic payment is perfect for anyone who has experienced credit troubles in the past, and especially for those who currently have bad credit.

A number of prepaid cards currently on the market:

AT&T Universal Cash Rewards Credit Card

Citi® Dividend Platinum Select® Student Credit Card

First Vineyard MasterCard® Card

IMPACT Visa® Card

The Vaya™ MasterCard® Card

Wired Plastic MasterCard® Card

A number of benefits and conveniences may really inspire consumers to give prepaid credit cards a whirl. Firstly, those who are very concerned with privacy may appreciate that no bank account or employment verification is required for some cards. These handy forms of tender can be used anywhere Visa® or MasterCard® or other major credit cards are accepted, making shopping convenient in stores or via the Internet. Finally, consumers will love cashing in on rewards and incentive points, reaping savings and special bonuses for simply using their cards.

As with any credit card service, potential cardholders should review all terms of agreement, fees and fine print prior to signing up for an account. Consumers who choose to use prepaid credit cards can feel confident making purchases without worries of interest, finance charges, credit card debt and the hassles of getting approved for a credit card. Prepaid credit cards provide free and easy spending with no strings attached!