Prepaid Debit cards by Russell Simmons
The RushCard is a prepaid Visa card. It offers the convenience of a credit card but, without the drawback of owning a credit card from which a bank charges interest for an unpaid negative balance. It's prepaid which means that the money you put on the card sets the limit for how much you can spend.
Many companies have jumped on the prepaid debt card band wagon and most of these cards can be found in almost every retailer accross the country. It's fast, easy, just as secure as a regular credit card, and there is no credit approval process.
The average cost to start up a prepaid credit is anywhere from $9.95 to $14.95 with a minimum deposit of $20.00. With your purchase, you get a temporary Visa card and you call the 800 number to give your personal information to authenticate you are the person who purchased this card. Within 2 weeks, you get a personalized card with your name and a pin number to access your card on debt purchases.
Green Dot is one of the leading Pre-paid Visa Card companies has mastered the business of pre-paid debt cards. Green Dot pre-paid credit cards are reloadable at any Green Dot location and offer a direct payroll deposit option for those who want their paychecks automatically deposited.
I feel the draw backs to making these credit card purchases are the fees. Many cards will charge you a service fee of $2 to $7.95 per month. To reload your pre-paid credit card can cost anywhere from $2 to $4.95 for each transaction. Nothing is free, but if you want the benefits on owning a credit card, then like everything, it comes with a price.
Benefits of a pre-paid credit card is you can control your spending You can only spend what you put on the card. We live in a debt society. Putting things on credit is the American way of life. For those who are prong to abusing credit, a prepaid credit card is a perfect way to control your spending.
If you are someone that is interested in making a determination on what pre-card credit card that is right for you, you can go to www.creditcards.com to compare credit cards and prepaid credit cards.
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