Using a Prepaid Card to Shop Online
An article about how you can take advantage of the savings offered by Internet retailers even if you have a bad credit history.
Most people are aware of the fact that it is possible to buy many items online, often for significantly less than they can be bought in high street shops. Books, CDs, DVDs, clothes, and electronic devices are just a few of the goods that are sold over the Internet in the 21st century. However, if you have defaulted on a personal loan, mortgage or other credit agreement in the last few years then you might find that there are no banks or building societies willing to offer you a credit or debit card, which can make it very hard to purchase things online.
Some retailers accept PayPal payments but many do not so if you want access to everything that the Internet has to offer then it will be necessary to find another way around this problem. Some people may have a partner or parents who are happy to let them use their card when they wish to buy something online but this is not always convenient. Another solution is to apply for a prepaid card, many of which are advertised on the Internet nowadays. The main advantage they have is that issuers do not run a check on the financial history of applicants so as long as you are over eighteen and have a permanent address it should be possible to obtain one.
Depending on which card you apply for, there may be a fee to pay every time that you transfer money to your account or you may have to pay a monthly maintenance fee. ATM fees are common but they vary from one product to another so it is worth shopping around before you make an application. Products that require the cardholder to pay a fee every month can work out cheaper over time, especially if you use them on a regular basis. This is because those that do not have such a fee usually levy a charge on every purchase that is made with the card.
The percentage that cardholders have to pay on purchases with cards that have no maintenance fee is quite small but it can add up to a significant amount if you often shop online. It is a good idea to do some research on all the charges so that you can make an informed decision as to which card to apply for.
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