Pre-Paid Credit Cards: Have Your Cake and Eat It Too! - Other News

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Other » Pre-Paid Credit Cards: Have Your Cake and Eat It Too!

Pre-Paid Credit Cards: Have Your Cake and Eat It Too!

Pre-Paid Credit Cards: Have Your Cake and Eat It Too!

The days of paying only with cash are gone. You must have some sort of debit or credit card, especially because online spending is becoming more and more the way to go. Unfortunately, I have not noticed any computers with cash slots like at the self-checkout in the grocery store.

If you do not have the right credit history to get a credit card, you could get a pre-paid credit card instead. They are no hassle and are easy to use. Who wants to fill out all those boring forms to get a credit card anyway? It may be a temporary way to satisfy your teenager, who has been begging you for a credit card. They also make a great gift for the person you are dreading to choose a gift for. Sounds like a fine idea so far.

On your way to eternal pre-paid credit card bliss, you discover some less than blissful bumps in the road. The fees on almost anything get us every time. Going the pre-paid route, does not exempt anyone from fees. One card had an activation fee of almost $10. Another card had a similar inactivity fee. Inactivity fees blow everyone away. You get a fee for saving or not doing anything! A word of advice, try to do some research and get a list of fees that are associated with the card you want to purchase.

The problem of fees pale in comparison with the problem of child pornography. Those people who purchase child pornography are finding it a little easier to be anonymous with a pre-paid credit card payment. They lose any chance of being held accountable that way. This makes it harder to catch them. Some major credit card companies try to assure the public that they work hard to disable the use of their cards on such websites. I am afraid that I am not buying the altruism act from companies that charge an inactivity fee.

What about adolescents pretending to be 21-years-old online? It is no surprise that in a recent study it was found that over 93 percent of adolescents use the Internet. Alarmingly, another study showed that almost a third of adolescents have lied about their age to gain access to particular websites. Most adolescents have also confessed to covering their tracks by deleting the web browser history. With such unnerving statistics, it hardly seems like a good idea to give a pre-paid credit card to a teenager. The plastic card could serve as a license for your child to enter a number of adult websites, undetected.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

New SPG Amex Luxury Card Arrives This Summer

Posted: April 26, 2018

The Starwood Preferred Guest American Express Luxury card is coming this August, along with the new SPG and Marriott combined rewards program. This card offers 6x the points when booking stays at SPG and Marriott Rewards hotels and 3x ... Continue reading
Masterpass Comes to BJ’s Wholesale Club

Posted: April 25, 2018

Have you been wondering when you would be able to use Masterpass, to check out at BJ's Wholesale Club? If you have, you don't have to wonder any more. The pair recently inked a deal, bringing Masterpass, MasterCard's digital wallet, to ... Continue reading
A New Unified Marriott and SPG Rewards Program is Coming

Posted: April 24, 2018

When Marriott acquired SPG, it was unclear what would happen with their rewards programs. But now the cat is out of the bag. SPG, Marriott Rewards and Ritz-Carlton Rewards will all become one loyalty program this August. At that point, all ... Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
We'll match all the Miles you've earned at the end of your first year. For example, if you earn 30,000 Miles, you get 60,000 Miles.
For Excellent, Good Credit
Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs up to the quarterly maximum each time you activate.
For Excellent, Good Credit
Our application is quick and easy with instant pre-qualification available
For Fair / Good Credit
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!