Prepaid Credit Cards Pros and Cons

Credit cards definitely help people in a lot of ways no doubt. More and more people have been yearning to apply for a credit card ever since the inception of this wonderful technology of plastic money. Armed With only a plastic credit card, you can have the power of purchasing virtually things and items you have ever wished for even without raw cash at hand. Moreover, with a credit card, you don’t have to worry about being robbed of your hard earned cash by those masked faces we so fear (robbers).

Why do you need A Credit Card
the advantages of a credit card cannot be over emphasized; however it also has its shortcomings. Credit card is a sink hole for those of us who are just starting to amass their finances. The power of credit card allows you to buy whatever you need and pay later and that gives you some feeling of assurances when actually you a sinking in a quicksand of debts. And sometimes you wont even realise that you have exceeded your credit threshold. That becomes a big problem when you discover that you dont have the means of paying the excess on time?

Prepaid Credit Cards: A perfect Alternative
The prepaid credit card is a more restrained alternative to the credit card. Prepaid credit card is similar to the credit card in all ramification except in the mode of payment. The prepaid credit card is connected to a preliminary account that must be funded before the card can be used for purchase. Apart from the ability to track your transactions and deductions, another important benefit of the prepaid creditt card is that it helps you cut your coat according to your size in the sense that you cant spend more than you have in your account. hence, the need to plan and budget your finances properly.

Prepaid Credit Card;The Pros
It curbs unnecessary spending and help you develop financial prudence and discipline. This card is perfect for whoever is still building his or her finance. A person whose financial spine isnt very strong. prepaid credit card will definitely help you grow.

Prepaid Credit Card; The Cons
the only disadvantage of a prepaid credit card is that you must have funds in your account  before you can make transactions with the card. And when the funds is not available, you are never gonna make that transaction. For your prepaid credit card to work for you, you must be thrifty with your finances.