Prepaid credit cards, Other Subject

Prepaid "Credit" Cards

A prepaid credit card is not a credit card, while no credit is presented by the card issuer: the card-holder spends money which has been "stored" by means of a previous deposit by the card- holder or somebody else, such as a employer or parent . though, it carries a credit-card brand (Visa, MasterCard, American Express or Discover) and can be used in related behavior just as although it were a usual credit card

After purchase the card, the cardholder loads the account by means of any amount of money, up to the prearranged card limit and after that uses the card to make purchases the similar way as a usual credit card. Prepaid cards can be issued to minors (above 13) since there is no credit line involved. The main advantage over secured credit cards (see above section) is that you are not necessary to come up with $500 or more to open an account. With prepaid credit cards you are not charged any interest but you are often charged a purchasing fee plus monthly fees after a random time period. Several other fees as well typically apply to a prepaid card.

Prepaid credit cards are occasionally marketed to teenagers for shopping online with no having their parents complete the transaction.

Because of the a lot of fees that be relevant to obtaining and using credit-card-branded prepaid cards, the Financial Consumer Agency of Canada describes them as "an expensive way to spend your own money". The agency publishes a booklet, "Pre-paid cards", which give details the compensation and drawback of this kind of prepaid card.

Posted Date: 10/13/2012 1:22:45 AM | Location : United States







Related Discussions:- Prepaid credit cards, Assignment Help, Ask Question on Prepaid credit cards, Get Answer, Expert's Help, Prepaid credit cards Discussions

Write discussion on Prepaid credit cards
Your posts are moderated
Related Questions
The point of the paper is to show that you understand the reading, and evidence your understanding by using the ideas of the authors we have encountered.  To write an "A" Paper,

Applied Anthropology: Applied anthropology involves the application of anthropological knowledge to address real-world problems and situations. Applied anthropologists work in fie

aaaaaaaaaaaaaaaaaaaa

Process The terms reasonable and prudent person, due diligence and due care have been used in the fields of Securities, Finance, and Law for a lot of years. In recent years the

write a report based on a school activities.

the purpose of this assignment is to evaluate the potential for a new business or business expansion to a foreign country of your choice. you will evaluate business opportunities i

You have volunteered to work in the Peace Corps in order to use your skills to benefit others. The country you have been assigned has just ended a 5 year civil war. You show up at


Property' is a Relative Concept Since the physical, legal and moral conditions of excludability may vary according to time and circumstance, it becomes clear that the notion of

benefits of integrating inbound and outbound transport system in the movement of goods