The Lowdown on Prepaid Visa Cash Card

by : Eric Wasselman



Credit cards come loaded with benefits, rewards and privileges and thus require a good credit rating for card approval. With a Prepaid Visa Cash Card, you can still acquire some of the benefits and rewards offered by credit cards without the need for good credit history.

This stems from the fact that getting approved for a Prepaid Visa Card itself is already a boost to your credit rating. Unlike unsecured credit cards, there are no annual fees or interest rates chargeable to a prepaid debit card. However, there may be application and processing fees involved during the initial usage periods. Also, over the long run, monthly fees for maintenance purposes are also imposed.

Basically, Prepaid Visa cards are debit cards that require the cardholder to make monthly deposits to their card account prior to making purchases with the card. This helps card users avoid the tendency to overspend, and yet provides them with the liberty to bring less cash around.

Prepaid Visa Cards are accepted at stores and facilities which display the Visa logo. Apart from that, the Prepaid Visa Card can also be utilized for online transactions. At the current moment, paychecks can be deposited straight into card account by the employer, reducing the need for costly transaction fees or multiple checking accounts. This feature is also beneficial to parents who wish to transfer funds for their children's college expenditure, or when direct transfer payment would need to be made. Funds can then be transferred from card to card, through money orders or just with standard deposit slips.

Finally, there is an abundance of Prepaid Visa Cash cards in the market, with most of them equipped with reward-point collection and cash rebates programs. It is also a fact that Visa debit cards dominate the market share by a ratio of 3 to 1 as compared to their closest competitor. With the popularity of the Prepaid Visa Cash card comes the need to pay attention to the issue of security, as there is not much protection provided against unauthorized usage of debit cards.