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Visa Prepaid Credit Cards

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visa prepaid credit cards

The usage or application of prepaid credit cards is growing at a phenomenal speed especially after the recent recession. Sad to say, but is the fact that many went bankrupt during the recession. If you are declared bankrupt, basically you are only open to 2 types of cards, a gift card or a prepaid credit card. In my sole opinion, a gift card is useless. Once the fund is depleted, the card is just a piece of plastic as it is non-reloadable. Yes, if you adore the design, you can keep it. But how many will do this? Most of these plastics will end up in rubbish bins. All of us, unless you are still living on tree tops or in caves, are aware and facing our utmost threat which is global warming. Everyone is yelling, Go green! Go green! Thus, how ‘green` are these gift cards are? You should have the answer by now.

As in prepaid credit cards, they are reloadable. Thus, you can use them again and again. Reasons why you can still apply for these cards even if you are bankrupt are, these cards are not attached to any banks and do not reports to any credit reporting agencies. Thus, no credit checks are needed. Since prepaid credit cards are obviously better than gift cards, the rest of this article will focus on prepaid credit cards.

Visa prepaid credit cards and prepaid Mastercards are available almost everywhere in the world. Oppose to common belief, Visa and MasterCards do not issue these cards. Visa and Mastercards are merely companies which operate the retail electronic payment network. They manage payments ranging from merchants, financial institutions, business and government entities to end consumers. Thus, all reward programs, interest fees etc are not done by Visa nor Mastercards but financial institutions instead. So, if you are not happy with the features of your Visa prepaid credit card, please do not charge into Visa headquarters. Visa is innocent.

Now, let`s bring the never ending fight on, Visa versus Mastercards. Both Visa prepaid credit cards and prepaid Mastercards are acceptable worldwide, unless you happen to be dining in the middle of Congo or deep inside the Amazon forest. However, if you pay close attention, there are distinguishing factors between these 2 giants. According to a survey carried out in November 2005 by Internet Retailer and another survey done by Business Travel News in 2009, prepaid MasterCards have a slightly higher access to ATMs while slightly more merchants accept Visa prepaid credit cards. In a nutshell, it is still a neck to neck fight to date. Besides looking at surveys, you can also evaluate them base on their quarterly financial reports. As in June 2009, Visa`s first quarterly report reflects a raise of 71% compared to MasterCard, a drop of 18%. Meaning, more people chose to use Visa rather then MasterCard even during the recession.

Thus, it is clear that Visa is taking the lead at the moment. As in usage wise, I choose Visa as well because it is such an embarrassment to me when merchants reject my card over the counter. Besides needing a card which is recognized by more merchants, I need a fee low or free direct deposit Visa prepaid credit card. Since I have decided to use Visa, I applied for Vision Premier® Prepaid Visa® Card about a month ago and I can proudly say this card not only fulfills my needs and expectations but even exceeding them! This Visa prepaid credit card offers free direct automatic deposit of my paycheck. All signature and PIN transactions are also free! Be it local or international.

Get a premier prepaid Visa with no hassles