Prepaid Debit Cards are Not Prepaid Credit Cards. In fact, the term “prepaid credit card” is an oxymoron—or a contradiction. Credit cards provide consumers with a line of credit and charge a finance charge for any purchases or cash advances that are made with the card and are not paid back within one billing cycle—typically a month. How high the finance charges can go depends on what card program you select. Leaving a balance owed on a credit card is essentially creating debt that does not have to be paid back in fixed installments but rather “revolves” like a revolving door, as payments to the debt are made and new debts are added to the credit card.

In contrast, prepaid debit cards or “prepaid cards” can be used much like a credit card for shopping online or in person, because they are issued by a bank, like a credit card, and carry most often a Visa or MasterCard logo. The difference is that you are putting your own money on the card and then withdrawing funds as you make purchases with the card. You are prepaying with money up front. Because the money is already sitting in your card account, you are not borrowing money or using credit. And you will avoid any finance charges. You also have the option of selecting whether you want to make a purchase as a signature transaction or as a PIN debit transaction, which allows you to get cash back at the point-of-sale or at an ATM. Additionally, if you try to make a purchase that is more than the available balance on the card, the transaction should be rejected, so you cannot be overdrawn or be hit with overdraft fees. (But be sure to choose a prepaid card program that does not allow you to create a negative balance, because not all prepaid card programs are alike).

Unlike one-time-use prepaid gift cards, reloadable prepaid cards with the Visa or MasterCard logo are designed for repeated use, allowing you to replenish the balance on the card. They are a good choice for people who cannot get a checking account and thus a checking account debit card. They are also a good choice for people with bad credit who have trouble getting a credit card. “Secured credit cards” are another form of credit and are also not prepaid credit cards or prepaid debit cards. They require you to deposit your own money with the card account in order to borrow money against the deposited funds (with potential interest), which remain unavailable to you until you pay off any credit balance and close out the card account.

A MiCash Prepaid Debit Card Perk: Easy Card-to-Card Fund Sharing

A prepaid debit card system from MiCash isn’t just about keeping money safely stored for cashless transactions. One of the most convenient services that MiCash offers is its ability to quickly sharetransfer funds to nearly anywhere around the world, without having to rely on banking groupswire transfers. This lets cardholders and their loved ones receive funds quickly even if they are separated by long distances across the world.

Unlike most other money transfer and banking services, MiCash does not charge a percentage rate on the amount of money being transferred from one card account to another. What it does is to charge a set fixed rate of $2 per every card-to-companion MiCash card transaction. It makes it easier for the recipients to receive the exact amount of money intended for them, loaded safely into their prepaid debit card from MiCash.

MiCash offers these and other stellar financial services. Visit their website at MiCash.net to discover more.

Prepaid Debit Card Brings Cashless Spending, and Added Fiscal Privacy, Too

A prepaid debit card has a number of distinct advantages over regular credit card accounts. For instance, debit card accounts do not require the client to undergo a credit check in order to be approved. This allows them to more readily take part in convenient, hassle-free, cashless spending services.

The ability to purchase items without having to carry cash can help keep finances safer, and easier to manage and account for. Credit card services, however, often have elaborate security procedures to ensure that the potential cardholder is good for the credit. This puts them under much scrutiny – previous debts, outstanding loans, a track record of paying bills and other concerns are all part of the picture, which most people may feel to be an invasion of their privacy.

Prepaid debit card services like that of MiCash do not need a credit check. Simply call 1-866-642-2741 toll free, and learn how to avail of convenient cashless spending.

Prepaid MasterCard: Advantages over Credit Cards

SUMMARY: A prepaid MasterCard has certain advantages over a credit card. For one, all purchases done with a prepaid card are debited immediately, leaving minimum red tape.

BODY: The benefits of a prepaid MasterCard shine in how the card accords to its holder the ease of use and privileges that most credit card holders are able to enjoy. The difference, though, comes in how the finances are managed. Prepaid cards offer very distinct features that credit cards cannot have.

A prepaid card, in truth, is used very much like any banking ATM or any credit card. Cardholders are able to avail of cashless transactions for purchases made. They can simply present their card, and with a swipe the payment is complete. Funds are directly debited against an existing card account. A prepaid MasterCard has the benefit of being recognized and accepted in millions of establishments across the United States and overseas as well, thanks to the elaborate and diverse network of MasterCard.

One major advantage that a prepaid card has over a credit card comes precisely in its method of payment. A conventional credit card charges a card holder the amount to credit, plus interest if the balance is not paid off monthly. With a prepaid MasterCard, the cardholder will have no such trouble with interest rates or late payment fees. This is because the money is debited immediately from the cardholder’s card account.

RESOURCE BOX:

MiCash is a trusted resource for prepaid MasterCard programs throughout the country. They offer services like funds sharing from card-to-card at rates that are lower than ever. See the website of MiCash at http://www.micash.net or call 1-866-642-2741.

Prepaid MasterCard: A Versatile Credit Card Alternative

MasterCard is a powerful brand that allows users to pay for various products and services at establishments or through remote means, among other services that it provides. Now, a prepaid MasterCard is available with many of the same advantages, but with few of the inherent disadvantages.

Prepaid debit cards can be used to make purchases at a wide array of establishments including gas stations, restaurants and supermarkets. They can be used to pay bills via the Internet or a telephone, to withdraw cash at the millions of ATMs everywhere that display the MasterCard, Cirrus®, PULSE® and STAR® acceptance marks, and more.

Unlike with a credit card, there’s no risk of overdrafting or late fees.  There are also no interest charges, which can quickly create a scenario where it is hard to pay off the balance. The funds on the MiCash prepaid MasterCard are even insured by the FDIC (Federal Deposit Insurance Corporation).

For more information on the prepaid debit cards from MiCash, visit MiCash.net or call 1-866-642-2741.

Using a Prepaid Debit Card as a Payroll Card

SUMMARY: There are many benefits to using a prepaid debit card as your business’ payroll card. Prepaid payroll cards save both time and money for both employers and employees.

BODY: Most companies nowadays are turning toward electronic payment options such as direct deposit and the use of a prepaid debit card for payroll funds. By encouraging employees to opt for electronic of payroll funds, employers get to cut down on expenses. It costs around 1-2 dollars per pay period to issue paper check to company employees. That amount is cut down to just twenty cents per employee when the payment transfer is instead done through electronic accounts. While this seems like a miniscule deduction, the resulting savings are quite substantial.

While direct deposit remains as the most popular electronic payroll fund option, it is not exactly the most accessible. Unbanked workers who have no affiliation with a financial institution cannot avail of the direct deposit option. Issuing a prepaid debit card or paycard leverages the financial advantages of electronic funds transfer without having to force employees to open a bank account.

Aside from giving companies an efficient and cost-effective means of distributing payroll fund, prepaid debit payroll cards provide employees with the convenience of accessing their funds wherever and whenever needed, so long as there is a compatible ATM machine nearby. It also enables for a more secure method of bills payment and making purchases—even online.

Prepaid debit payroll cards work almost like a full service bank account card. The big difference here is that there are no strings attached to a prepaid debit card account. This is probably why paycards are usually issued to temps, freelancers or contractual employees.

Resource Box:

MiCash Inc. is one of the pioneering providers of prepaid debit card services. The company aims to allow everyone, even underserved citizens to have indiscriminate consumer access, security and convenience. To learn more about the company and its products and services, visit http://www.micash.net or call 866-642-2741.

Prepaid Debit Card: Pay before Buying, not After

Managing your finances does not just take strong willpower and discipline, but smart financial solutions and good habits as well. Both of these virtues are manifested in a prepaid debit card. These debit cards allow you to have many of the conveniences of a credit card, without the constant renewal of debts at the end of the month.

The problem with credit cards is that they allow you to live beyond your means. Although finances can be accounted for so that you can afford everything that you pay for on your credit card, credit cards also present a readily available opportunity to spend on impulse. When it comes to the point that you can no longer afford your credit card bill, they add insult to injury by charging you interest on what you were not able to pay immediately.

Paying for everything in advance via a prepaid debit card from MiCash forces one to feel the weight of your expenses, before a dime is even spent. Visit MiCash.net or call 1-866-642-2741 for more information.

Prepaid MasterCard Programs are Bankable and Dependable

SUMMARY: Prepaid MasterCard programs are highly recognized across the globe, thanks in large part to the strength of the MasterCard brand. The prepaid card program also has features that make life much easier for their customers.

BODY: A prepaid MasterCard is more than just a fancy term for a debit card system. By banking on the power of the MasterCard brand name and system, holders of their cards are protected by a security and stability that other programs can’t offer as readily.

Based in Purchase, New York, MasterCard Worldwide was founded in 1966, and has been in the business of processing payments between banks of purchasers and merchants. Originally known as MasterCharge, the firm was designed to offer services to compete with Bank of America’s own card payment program of the day, BankAmericard. The group changed its name in 1979 from “Master Charge: The Interbank Card” to simply “MasterCard”, and the company has to this day become a highly recognized name.

Given the global scope of the firm, a prepaid MasterCard subscriber ought to have certain privileges, thanks to the MasterCard brand. For one, should the holder of the prepaid card choose to pay with his or her card, the card is easily accepted as standard payment, being one of the biggest and most recognized names in payment systems. The prepaid card becomes an easy means for cashless spending and purchasing.

The use of prepaid cards also has other special benefits as well. Clients can readily deposit funds into their card using direct deposit or load networks. Even better, some prepaid card companies do not charge a fee for card loading, and funds are readily accessed, even as the cardholder is traveling around the world.

RESOURCE BOX:

MiCash is a major provider of prepaid MasterCard programs across the United States. They offer exceptional benefits for cardholders, such as free $20 bonus on top of a card’s initial load, and low rates for transactions like international ATM withdrawals and card-to-card sharing. Learn more by visiting MiCash online at http://www.micash.net or call 1-866-642-2741.

The Prepaid Debit Card Advantage

Summary: A prepaid debit card offers much of the conveniences being offered by traditional credit cards, but without having the consumer worry about overspending. Many of today’s major card companies including Visa and MasterCard are offering prepaid debit cards.

Body: A prepaid debit card is a great alternative to using the credit cards, and is even better in a lot of ways. It’s an ingenious financial invention that addresses the most common problems people face with mismanaged credit cards – mounting monthly bills.

Because of the need to come up with a financial solution to address the growing concern of the steadily growing number of users defaulting on their credit card payments, the debit card was created. Major card companies such as MasterCard, Visa and American Express are now offering prepaid debit cards.

What are prepaid MasterCard and Visa debit cards? Just how more advantageous are they than traditional credit cards?

If you use prepaid services such as mobile phones, then you’ll have an idea of how prepaid debit cards work. You can add funds or reload the debit card by visiting a location that offers prepaid card loading services. Once the account has enough funds, you can use it in a very similar way as you would use a regular credit card. The beauty of using a prepaid MasterCard or Visa debit card, however, is that the amount of your purchase will automatically be deducted from your card and you can keep swiping your card until the balance is used up.

With a prepaid debit card you can say goodbye to mounting piles of debt while still enjoying the convenience of cashless purchases, among other benefits, as you would using a credit card.

Resource Box:

MiCash Inc. is one of the leaders in providing financial services, offering one of today’s most innovative financial tools, the prepaid debit card from MasterCard. Prepaid debit cards offer many of the conveniences that a credit card brings, but without the risk of overspending. To find out more, visit http://www.micash.net or call 866-642-2741.

A prepaid MasterCard is one of the favorite items travelers take with them on long trips overseas. They provide a unique kind of convenience, security and peace of mind while also helping people keep budgets in check.

Having prepaid cards may not be the obvious choice for taking money along, but they offer special features that make bringing them a good idea. For one, they help keep cash safe, preventing possible loss or theft, especially in strange locales. They also can be used like a credit card, for convenient cashless shopping. Also, if the card runs out, users can easily have friends or family back home deposit funds into the card account, ensuring that the card stays loaded with value as needed.

This use of a prepaid MasterCard is one example of the incredibly practical functions that MiCash and its unique line of prepaid debit card systems offer. MiCash has been working to provide excellent cashless spending solutions for people, and strives to do so for years more.