For the people who look down on prepaid credit cards as the ‘poor man’s relation’ they couldn’t be further from the truth. In truth prepaid credit cards are a valuable credit store and in emergency is more than a flexible friend. It is easy to reach the limit of a regular credit card when traveling, only to have the card declined just when you need it most. Sounds familiar? Then read on and find out a little more about how, when and where flexible prepaid credit cards can benefit you.

Prepaid Credit Cards

Prepaid credit cards and how to get the best out of them

As a store of credit, a prepaid card cannot be beaten, and they are as flexible (if not more so) than regular cards. If you are trying to regain a healthier credit score after losing some credibility for one reason or another (it happens) these cards are ideal for rapidly improving your credit status from low and unhealthy to high and in the pink.

However, prepaid credit cards aren’t just a source of cash when you need it most and one or more of your cards have declined for one reason or another. The card in the image is the capital One Guaranteed Secured Master card and as with most credit cards, you can transfer a balance from one card to another. Lets us say for instance that you have three or four outstanding balances on other cards, on which you are paying interest rates of 20% or higher.

In most cases the interest is over 25%; the card shown, even though it is a credit store accepts balances and only charges 19.8% on any and all balance transfers. If you’re currently paying much higher rates and for this reason alone your credit score has fallen, this card can immediately start repairing your credit AND saving you money.

Travelling with prepaid credit cards

Chances are anyone reading this has had a problem with a card being declined when traveling, even though the card is good. All banks have security systems in place which are supposed to detect potential fraudulent and criminal use. This may mean card usage outside the country or on the other side of the country which is, as they would rightly point out, not in the usual pattern of use. Even if you tell your bank you are traveling it often happens that a card is declined for one spurious reason or another.

It has happened to the writer when attempting to pay a five day hotel bill in France. Galloping to the rescue came one of two prepaid credit cards kept for just such an occasion. As a source of security and guarantee of NOT being arrested for being unable to pay a bill, prepaid credit cards cannot be beaten.

You can load the cards by bank transfer, direct from your salary or any other method which banks use to transfer money from one location to another. If you want more information or apply for a prepaid card, you can do so here today.