Prepaid Credit cards nz

pre paid credit cards

Prepaid credit cards

Prepaid credit cards are very similar to credit cards, they can be used in restaurants, stores, online shopping and anything else that a credit card can do, and that is also where the similarity ends. The difference is that a prepaid card holder will not be able to use the card if there is no money in it, whereas, a credit card holder can use their card because there is no money in it.  Prepaid credit cards are also widely used and available in NZ.

Prepaid credit cards NZ can be used by people who have bad credit ratings. Prepaid credit card (also known as secured credit card) is similar to regular credit cards but the credit limit is generally lower than the regular credit cards. 

Using prepaid credit cards

Using a prepaid credit card in NZ is simple; first apply for a card, then transfer cash onto the card and it is ready to use, but there are various charges incurred as a customer uses the card. Anyone can get a prepaid credit card if they’re 18years or older, there are also cards that parents can offer to their kids that are 13 years old and over. However, parents must be responsible for putting cash on the card and for any charges that will be incurred for usage of prepaid credit card. It teaches young teens to spend wisely. 

Features of Prepaid credit cards

A prepaid credit card combines the convenience of credit card and debit cards, but allows the card holder to set the spending limits according to their budget. Unlike debit and credit cards, getting a prepaid credit card does not require a credit check, so whether a customer has a good credit rating or not, they will be able to get a prepaid credit card. For customers wanting to rebuild their credit history, there is a prepaid credit card deliberately designed to help rebuild credit history. 

Advantages and disadvantages of prepaid credit cards 

If your looking for pre paid credit cards  and not to sure if they are right for you then you should check out advantages and disadvantages of prepaid credit cards. Find out the if getting a prepaid credit card is going to be better for you then a normal credit card. Check out advantages and and disadvantages of prepaid credit cards

More About Prepaid Credit Cards

A prepaid credit card requires the card holder to deposit certain amount of money to use the card to purchase things and when the funds are over in the card you have to deposit again to use. Prepaid credit cards are convenience to use (pay for shopping online or over phone, bills just like users of regular credit cards do). It is easier to manage the expenses with the use of prepaid cards as you will only load a limited amount of money in the card that you will use. Therefore there is no unnecessary spending.  Prepaid credit cards NZ are available at some of the leading finance companies locally or online. You can have an instant approval for the card without any credit check.