Frequently Asked Questions
FAQ's about Applying for Prepaid Credit
Cards Online
- Below are answers to some of the most frequently asked
questions about the process of applying for prepaid credit cards
online as well as questions regarding the security of
online card applications.
Q. How is a prepaid credit card different from a regular credit card?
A. The prepaid credit card looks like a credit card - it has the Visa or MasterCard logo
and hologram - and allows the convenience of cashless purchases like a signature-based credit card, with no PIN input required at the point-of-sale. However, your card accesses pre-loaded money from an account you fund. Your spending limit is determined by the amount of money that you have loaded to the card. This eliminates interest charges, late fees, and overdraft charges.
Q: Can’t I just get by using a check or cash?
A: For some people this might be an option. However if you have ever needed to purchase an airline ticket, purchase something online, rent a car, or check into a hotel then a credit card of some kind would be a necessity. Plus, if you lose the cash or it is stolen, it is gone forever. If you lose your card or it is stolen, your money is still safe.
Q: What can I buy using a Prepaid Credit Card?
A: You can purchase anything you want, as long as the merchant accepts Visa or MasterCard and all merchant conditions are met. You can make purchases at more than 21 million merchants, on the Internet, or over the telephone.
Q: Can the prepaid credit card be used at ATMs?
A: Yes, your card will work at ATMs using your PIN (Personal Identification Number).
Q: What happens if the card is lost or stolen?
A: You should call the card’s customer service to report it missing immediately and you won’t be responsible for any unauthorized transactions.
Q: How much money must I deposit to open up a prepaid credit card?
A: There is usually no minimum amount of money that you must deposit onto your prepaid credit card.
Q: Is it easy to be approved?
A: The reason a credit card is sometimes difficult to be approved for is due to the banks and you credit history. A prepaid credit card on the other hand works a little differently, you are approved much easier. Since there is no loan/bank in the process almost everyone who applies will be granted their own card.
Q: Is there an age limit on the prepaid cards?
A: Due to government standards the minimum age limit is 18 in order to apply for a prepaid credit card.
Q: What is the difference between a debt card and a prepaid card?
A: The two cards are very similar. The difference is that some prepaid cards give you extra incentives and bonuses along with spending that debt cards don't.
Q. What balance must I maintain on a prepaid credit card?
A. There is usually no minimum balance to maintain for a prepaid credit card.
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