What is a Prepaid Visa / Prepaid MasterCard

An International Prepaid credit card is a Visa or MasterCard payment card that can be used to access cash or to purchase products anywhere you see the Visa or MasterCard acceptance sign. Money is deposited on to your card account by you and then you can access your money by ATM cash withdrawal or by using your card just like a credit card at any merchant that accepts the Visa or the MasterCard brand. 

Do I have to qualify for an Prepaid Visa / Prepaid MasterCard?

This depends on the card issuer but normally No, as there is no credit involved, and you can't spend more than you have in your account. You will however have to provide ID to verify who you are before the issuer can send you your prepaid credit card and then you can access the money in your account.

Also as there is no credit involved, Credit is not the determining factor for the issuing company of the Prepaid MasterCard / Visa Card.  All applicants are accepted, regardless of their credit history. There is no credit check performed with any credit referencing company and so the card is available to all. This opens up an opportunity for those who are normally declined by mainstream credit card facilities due to adverse credit, low credit score or lack of a credit history.

Can I use a Prepaid Visa / Prepaid MasterCard to withdraw cash from an ATM?

Yes you can your prepaid credit card can be used at any ATM operated by the bank that issued your card or by any ATM that displays any of the network logos on the front of your card. You'll need to enter your PIN number when prompted. - your PIN should have been delivered to you with your card or mailed to you. Remember that if you use an ATM outside of the network operated by the issuing bank, you will be subject to additional ATM fees.

Can an Prepaid MasterCard / Visa Card be used to make online purchases?

You can always use your branded prepaid credit card to make purchases at your favourite stores on the web. Just enter your card information and billing address at the checkout. Please note that the billing address you provide a merchant must match exactly the address associated with your card.

Are there any costs associated with using a Prepaid Visa / Prepaid MasterCard?

There are fees associated with card usage or card funding. You will need to read the terms and conditions and it should display a full list of all charges associated with your prepaid credit card. Depending on the issuer will depend on the card charges.

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How long does it normally take to obtain the Prepaid Visa / Prepaid MasterCard?

On average it takes 10 - 14 days but it depends on the issuer it can take up to 4 weeks for your card to be sent to you after they have received cleared funds. 

Will a Prepaid Credit Card rebuild my credit?

This is a new service that has just been launched, cashplus now offer credit builder when you pay the monthly fee of £4.99.

Does this offer apply to applicants from any country?

Even though the Prepaid MasterCard/Visa Card is an internationally distributed card the banks on this program are highly astute in ensuring they are compliant with MasterCard International and Visa International bylaws and as such there may always be the possibility that a country may be excluded from this program for political and security reasons should such a need arise.

What advantages does the Prepaid Visa / Prepaid MasterCard have over other prepaid card offers?

All other organisations that offer International Prepaid MasterCard/Visa Card programs only offer the maestro, cirrus and visa electron brands. These fall short of being the total global payment solutions for the global customer since you cannot use maestro, cirrus or visa electron to make purchases at particular merchants. The MasterCard/Visa cards offered by Bocal (UK) are global brands. With a MasterCard/Visa Card you will never be rejected for making an electronic payment.

Beware of prepaid credit card websites providing mis information?

Compare Prepaid are aware of the misinformation on the internet regarding the availability of prepaid credit cards. Some companies employ misleading marketing tactics and so you should be aware of the following pitfalls. 

• Cards being offered as a MasterCard when in reality it is a Maestro card
• Cards being offered as a prepaid VISA card when in reality it is a VISA Electron card
• Cards being offered as a physical prepaid card when in reality it is just a card and pin number only for use in making purchases on the internet these are Virtual card
• Cards being offered as a prepaid card when in reality there is no card but simply a process for recruiting people into a multi level marketing affiliate program
• Card being offered to international clients when in reality the card is not available to international clients due to cross border licensing.

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