A prepaid credit card or a prepaid debit card is similar to a normal credit card, except that it comes without any credit provision by the card issuer. It has a pre-determined card limit and the cardholder has to recharge or pre-load his account by depositing money in it. Therefore, it is also called a Stored-Value Card.
Prepaid credit cards are available in a number of forms, including a multi-purpose prepaid card, non-reloadable or gift card, prepaid travel card and payroll card.
Prepaid Credit Card Features
The basic features of a prepaid credit card include:
* It carries a brand name (MasterCard, Visa, Discover or American Express).
* It can be issued to people with a bad credit history.
* Cash can be withdrawn with a prepaid credit card from any ATM machine.
* It has a 100% approval rating as it does not require any credit checking.
Friday, September 16, 2011
Virtual Credit Card
A virtual credit card is a disposable payment card that can be used to make purchases or payments over the Internet. These cards provide inherent protection to cardholders, since the user is provided a new credit card number every time s/he makes a purchase on the Internet. This is why this card is sometimes also called the "single-use card numbers."
Virtual credit cards are available as the MasterCard Gift Cards (by MasterCard) and Virtual Visa Gift Cards (by Visa), and work in a way that is similar to an online gift voucher. Virtual credit cards are issued by most credit card issuers and major banks.
Virtual credit cards are available as the MasterCard Gift Cards (by MasterCard) and Virtual Visa Gift Cards (by Visa), and work in a way that is similar to an online gift voucher. Virtual credit cards are issued by most credit card issuers and major banks.
Credit Card Comparison
With so many credit card companies offering competitive deals on credit cards, a good credit card comparison is the only way to select the best credit card for your needs and get a good deal. When you do your homework and compare credit cards before applying for one, you can avoid unneccessary fees.
Credit Card Comparison: Benefits
A credit card comparison helps you search for a credit card that best suits your needs. By comparing several credit cards, you can:
* Minimize your monthly credit card bills.
* Increase your credit card limit.
* Select a card that can best cater to your spending habits and lifestyle.
* Find a good deal with low interest, no annual fees and rewards.
What to Consider when Comparing Credit Cards
When you compare credit cards, consider:
Credit Card Comparison: Benefits
A credit card comparison helps you search for a credit card that best suits your needs. By comparing several credit cards, you can:
* Minimize your monthly credit card bills.
* Increase your credit card limit.
* Select a card that can best cater to your spending habits and lifestyle.
* Find a good deal with low interest, no annual fees and rewards.
What to Consider when Comparing Credit Cards
When you compare credit cards, consider:
Business Credit Cards
Introduction to Business Credit Cards
Business credit cards are a great source of capital for corporate and small businesses . The credit cards come in handy, especially for start-up businesses that need easy and instant access to cash and credit. Many successful businesses started their ventures on a business credit card - in some cases, clever entrepenuers start a business solely on business and personal credit cards.
Sergey Brin and Larry Page, the entrepreneurs of Google used credit cards to buy second hand computers and open source software. Credit cards acted as the principle source of capital for Google. A company that went on to become one of the world's biggest corporations.
Applying for Business Credit Cards
Before applying for a business credit card, a customer must prepare a payment plan in advance to avoid any unnatural debt accumulation. This would include :
• Tracing the source of money for regular debt payment
• Realistic estimation of the affordable limit of debt
• Prior planning of paying more than the minimum monthly payment amount for gradual decrease of the outstanding debt .
Business credit cards are a great source of capital for corporate and small businesses . The credit cards come in handy, especially for start-up businesses that need easy and instant access to cash and credit. Many successful businesses started their ventures on a business credit card - in some cases, clever entrepenuers start a business solely on business and personal credit cards.
Sergey Brin and Larry Page, the entrepreneurs of Google used credit cards to buy second hand computers and open source software. Credit cards acted as the principle source of capital for Google. A company that went on to become one of the world's biggest corporations.
Applying for Business Credit Cards
Before applying for a business credit card, a customer must prepare a payment plan in advance to avoid any unnatural debt accumulation. This would include :
• Tracing the source of money for regular debt payment
• Realistic estimation of the affordable limit of debt
• Prior planning of paying more than the minimum monthly payment amount for gradual decrease of the outstanding debt .
Gold Credit Cards
A Gold credit card is usually preferred by credit card holders who have a high spending limit. Both Visa and MasterCard offer gold credit cards that are premium credit cards. These cards are accepted globally by both online and traditional merchants.
There are number of facilities that are available with Gold Credit Cards:
* Low Interest Option
* Cash Back on Fuel Purchasing
* Travel Cash Back
* Net Banking
* Repayment Cheque Pick-ups
Low Interest Option:
There are many options available in this credit card. While transferring balances one can choose from various options that are made available to the customers by the Credit Card Gold.
There are number of facilities that are available with Gold Credit Cards:
* Low Interest Option
* Cash Back on Fuel Purchasing
* Travel Cash Back
* Net Banking
* Repayment Cheque Pick-ups
Low Interest Option:
There are many options available in this credit card. While transferring balances one can choose from various options that are made available to the customers by the Credit Card Gold.
Prepaid Credit Card
A prepaid credit card or a prepaid debit card is similar to a normal credit card, except that it comes without any credit provision by the card issuer. It has a pre-determined card limit and the cardholder has to recharge or pre-load his account by depositing money in it. Therefore, it is also called a Stored-Value Card.
Prepaid credit cards are available in a number of forms, including a multi-purpose prepaid card, non-reloadable or gift card, prepaid travel card and payroll card.
Prepaid Credit Card Features
The basic features of a prepaid credit card include:
* It carries a brand name (MasterCard, Visa, Discover or American Express).
* It can be issued to people with a bad credit history.
* Cash can be withdrawn with a prepaid credit card from any ATM machine.
* It has a 100% approval rating as it does not require any credit checking.
Advantages of Prepaid Credit Cards
Prepaid credit cards have various advantages, such as:
* It is safer and more convenient to carry a prepaid credit card instead of cash.
* It is a good substitute for traveler’s checks while traveling abroad.
* It can be issued to minors and students.
* It offers a check on spending, since there is a fixed spending limit. This helps to prepare a budget for various expenses.
* It can be used in businesses to take care of petty-cash transactions.
* It provides freedom from debt.
Prepaid credit cards are available in a number of forms, including a multi-purpose prepaid card, non-reloadable or gift card, prepaid travel card and payroll card.
Prepaid Credit Card Features
The basic features of a prepaid credit card include:
* It carries a brand name (MasterCard, Visa, Discover or American Express).
* It can be issued to people with a bad credit history.
* Cash can be withdrawn with a prepaid credit card from any ATM machine.
* It has a 100% approval rating as it does not require any credit checking.
Advantages of Prepaid Credit Cards
Prepaid credit cards have various advantages, such as:
* It is safer and more convenient to carry a prepaid credit card instead of cash.
* It is a good substitute for traveler’s checks while traveling abroad.
* It can be issued to minors and students.
* It offers a check on spending, since there is a fixed spending limit. This helps to prepare a budget for various expenses.
* It can be used in businesses to take care of petty-cash transactions.
* It provides freedom from debt.
Charity Credit CardsCharity Credit Cards
Charity cards have the same features as conventional credit cards, besides serving a charitable cause. Charity credit cards are designed such that whenever a purchase is made using them, a certain percentage of the amount is donated to a specific charity. This charitable organization and the percentage of contribution are established by the card issuer.
Charity Credit Card Benefits
Charity cards have the following advantages:
* Automatic setup: The donation can be automatically set up to an individual’s favorite charity, without the need to approach the organization directly and follow a lengthy payment setup procedure. Moreover, most charity credit card issuers match the cardholder’s contribution, thereby doubling the value of the donation.
* Low APR: Charity cards have lower APR rates than standard credit cards, usually around 17%.
* Rebates: Some charity cards facilitate discounts and rebates at the partner stores of the issuer. Additionally, some cards offer reward points that can be redeemed for gift cards and merchandises.
Charity Credit Card Limitations
Some drawbacks of a charity card are:
* High interest rates: Though the APR is lower than standard credit cards, there are others, such as the life balance APR credit card, which have even lower APRs.
* Low donations: The amount contributed to a charity tends to be very low, which is usually just 0.25% to 1.25% of the amount spent with the card.
* Transfer fees: Most charity credit cards offer a zero balance transfer rate. However, these cards typically charge a transfer fee, which can either be a fixed amount or a percentage of the card balance, generally around 3%.
Moreover, most charity cards charge an annual fee and offer less incentives than a regular ‘miles’ or ‘cashback’ rewards credit card.
Charity Credit Card Benefits
Charity cards have the following advantages:
* Automatic setup: The donation can be automatically set up to an individual’s favorite charity, without the need to approach the organization directly and follow a lengthy payment setup procedure. Moreover, most charity credit card issuers match the cardholder’s contribution, thereby doubling the value of the donation.
* Low APR: Charity cards have lower APR rates than standard credit cards, usually around 17%.
* Rebates: Some charity cards facilitate discounts and rebates at the partner stores of the issuer. Additionally, some cards offer reward points that can be redeemed for gift cards and merchandises.
Charity Credit Card Limitations
Some drawbacks of a charity card are:
* High interest rates: Though the APR is lower than standard credit cards, there are others, such as the life balance APR credit card, which have even lower APRs.
* Low donations: The amount contributed to a charity tends to be very low, which is usually just 0.25% to 1.25% of the amount spent with the card.
* Transfer fees: Most charity credit cards offer a zero balance transfer rate. However, these cards typically charge a transfer fee, which can either be a fixed amount or a percentage of the card balance, generally around 3%.
Moreover, most charity cards charge an annual fee and offer less incentives than a regular ‘miles’ or ‘cashback’ rewards credit card.
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