Universal Prepaid Debit Credit Cards

Universal Prepaid Debit Credit Cards can benefit many types of people, including those who are attempting to rebuild their credit, or those who simply do not want a traditional credit card.  

These cards come with the same convenience as any major credit card; however they offer some great features. 

Such beneficial features of prepaid debit cards include never having to worry about accumulating debt, or spending more than you should because they are prepaid and you cannot exceed your current balance. 

You can spend only the amount you have paid into the card which means there are no interest charges or over the limit fees to contend with. These cards also provide protection if it is ever stolen, and reduces the risk of carrying cash.

Teenagers and students heading off to college are excellent candidates for Universal Prepaid Debit Credit Cards.  Parents can load the card with a certain amount of money, giving the child some freedom and independence, yet can still keep spending in check.  This teaches responsibility and budgeting.  Since many of the cards today provide online access, parents are quickly able to view transactions and add more funds when needed.

Because Universal Prepaid Debit Credit Cards are not credit cards, the application process is extremely simple, straight forward, and requires no credit check.  These cards are not the same as secured credit cards.  Secured credit cards can charge interest on deposits made to the card, and regularly report activity to the various credit bureaus. 

Universal Prepaid Debit Credit Cards do not report to credit bureaus and they do not charge interest on deposits.  These cards do charge loading fees when adding funds to the card, which are usually nominal, and in some cases they may also charge usage fees. 

Just as is the case with credit cards, each card issuer sets different terms and conditions.  When applying for any type of universal prepaid debit card, research your options in order to determine how much the card is going to cost you each month, and how it can benefit your specific situation.