Prepaid Visa Credit Cards – Options For Albertans

Prepaid Visa credit card is, literally, plastic money. It is a little plastic card that is used to substitute money whenever you pay for purchased items or rendered services. Despite its name, prepaid Visa credit card is not a real credit card. It doesn’t give you credit or charge you with interest. Like traditional credit cards, however, prepaid Visa credit card is also coupled with additional fees like card application fees and monthly service charges. The credit card company may also charge you with card renewal fees or card replacement fees, if necessary.

No debts, defaults, and penalty fees

Your prepaid Visa credit card is not linked to any security deposit or savings account. So, if you deposited $1000 in your prepaid Visa credit card, then the total amount of money you can spend is exactly $1000. It’s as simple as that. You are not allowed to use your prepaid Visa credit card to charge purchases that are beyond the deposited amount, thus preventing you from spending more than you should. Because you cannot use your prepaid Visa credit card on items that you cannot afford at the moment, you are saved from any possibility of debts or defaults.

No credit, bad credit, and good credit histories

Another good thing about prepaid Visa credit card is that you can apply – and actually get approved – for one regardless of your credit history. So even if you have a bad credit or no credit history, you can still have your very own prepaid Visa credit card. The downside to this, however, is that your prepaid Visa credit card cannot improve your credit score and rating. Getting a prepaid Visa credit card will have no implications on your credit report. Your overall credit score and rating, despite your exceptional prepaid Visa credit card payment record, will remain unchanged.

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