Bad Credit MasterCard the benefits

Published on 14 July 2012 by Raffick Marday

What are the benefits of a bad credit MasterCard?

Unfortunately bad debt is on the increase, banks are increasing charges and loan companies are making it easier to get credit, how does that affect you, if you cant keep up the minimum payments chances are you are going to get in to debt. Prepaid cards are now a serious alternative, all their charges are clearly laid out usually in the terms and conditions and companies are now.

Prepaid credit cards have been gaining in popularity in recent years, and have grown by 28% this year and are likely to continue doing so. A standard credit card is a great financial tool when used responsibly, but standard cards aren’t for everyone. Bottom line: prepaid cards are a safe, convenient and debt-free payment alternative for all types of consumers. Use the information below to find out what your needs are.

Way up what is best for your situation

Cost of MasterCard – these vary depending on what your card can do and if it is a Maestro or MasterCard Maestro cards are cheaper but MasterCard has more capabilities

MasterCard Activation fees – some cards mainly “cost per transaction” charge an annual fee

Annual charges – some cards mainly “cost per transaction” charge an annual fee

Monthly fees – these are ideal if you know you are going to use your card on a regular basis it can help you budget more easily

Cost per transaction – if you are only going to use your card every now and again then this plan will suit you, but be careful as this can add up to more than a monthly fee

Withdrawing cash – (ATM’s) – If you are just going to take cash from cash machines look at the charges and see who is offering the lowest fees

Wages payments – Free with nearly all the prepaid MasterCard’s

Direct debits – you cannot do direct debts on prepaid cards as the amount is variable and this can cause you to have insufficient funds if they take more than expected

Standing orders  – you can with some of the MasterCard brands, you phone up the customer service line and they will send you a form

Re loading charges – Think about the way you can top up, online is usually free, some companies charge over the phone, look at standing orders normally free, and nearest location there is no point if the nearest post office is miles away

Benefits – all the MasterCard brands offer discounts on car hire, hotels and flights to USA, some prepaid cards like Crystal offer hundreds of discounts when you pay with your card.

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