Prepaid Debit Cards – Pros, Cons, and Who Should Use It

Today, more and more people are using one or more cards and almost every bank today offers its customers such a product. Let’s look at service pros and cons. In fact, it is very important for all credit card users to know all the information about its use as well as the advantages and disadvantages.

That’s why only on this site you will find the most necessary information about activating the card, checking the balance online, registering the card and much more.

Also, here you will find all the answers to frequently asked questions by card users and finally be able to use the credit card with all its benefits. If you want to know a lot more details about using that kind of  Card, you can visit this site https://dressthat.com/.

This Card Has the Following Positives:

The main advantage of any type of bank card is its convenience in carrying out a variety of financial operations. You can use it to make purchases in conventional and online stores, make money transfers, pay to counterparties, receive wages, and so on. This payment instrument is beyond the competition in terms of its versatility.

The fact that the card does not require the use of cash is also important. The consumer becomes freer in spending money, not depending on the contents of the purse at the moment of purchase. Among other things, most cards have cashback – a percentage of the amount paid back into the account.

Speed of obtaining

Today, the procedure for issuing a credit card takes only a few minutes. There is no need to present any documents, except a passport with residency in the bank’s service area. Sometimes you have to provide a certificate of income or driver’s license.

It is better to find out about this requirement on the bank’s website. In other cases, especially if you are the salary client of the bank, the procedure will be very simple and fast;

Possibility to use additional funds at any time

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As soon as you have financial difficulties in paying for purchases or services, as well as taxes or fines, credit cards will be a handy help. Instead of calling your friends to ask for a loan, much less going to the bank, a credit card can be conveniently used anytime, anywhere there’s non-cash payment;

Each credit card has a fixed period during which you can return the money spent without overpaying the interest. This is how the card compares favorably to a consumer loan from a bank;

Convenience of replenishment

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Spent funds are credited back to the account in various ways: online in a personal cabinet, via money transfer, in ATMs or cash machines of the financial institution that issued the card. If your wallet is lost (stolen, lost, physically destroyed, etc.), you will most likely not be able to get your cashback.

The funds in your card account can be saved if you block the card in time by calling the bank that issued it. The bank has an opportunity to ensure the risk of loss of the card and funds kept on it.

When getting your paying card, familiarize yourself in advance with the procedure for your actions in case of card loss. Your card is a safer way to use your money, but only if you use it properly!

Hygiene is important

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It’s no secret for medics that along with the money received in the store as change you can get a bunch of infectious diseases. It is possible to avoid them by keeping cash only in the purse and each time after use to treat your hands with hygienic means or wash with soap, but is it always possible to follow these recommendations?

Smokers are particularly at risk because smoking 20 cigarettes a day transfers infection accumulated on the hands to the facial area 20 times. This card leaves our wallets only for a short time making a purchase and their cleanliness is more controllable.

All over the world having a card is an indicator of your good financial standing, and a premium card is an indicator of the status and seriousness of your attitude to non-cash card payments. Knowing the peculiarities of solvency and cardholders’ propensity to make significant purchases, many companies provide discounts to premium cardholders.

Such a card has loyalty systems aimed at attracting cardholders to cashless payment for purchases by cards. The banks also support their own discount systems, which attract cardholders to trade and service companies, which have to acquire agreements (accepting cards for payment) with the same banks. The implementation of such projects allows banks to increase the trade turnover of enterprises, at the expense of their clients.

Among the Main Disadvantages I Would Like to Mention the Following:

Paying an annual maintenance fee. Even if the credit card is issued free of charge and for the first year you do not owe the bank anything, the second year you will have to pay a fixed amount of money (this is one of the benefits of the financial institution);

If you do not withdraw money during your grace period, you will pay a penalty. If you for some reason do not have time to deposit the funds withdrawn from the card, this can not only lead to the payment of fees but also have a negative impact on your credit history;

The vicious circle

If your monthly income is not much higher than your card limit, there is a risk that you will have to transfer your salary to your card in order to pay off debts, and then you will have no money and have to spend it on a credit card again. Getting rid of permanent debt will only help a large one-time income if the salary remains the same.

All card users can use the Serve card, and you can do it almost anywhere American Express® cards are accepted. This is very important because it’s very convenient because you’ll be able to use this feature anywhere in the world.

Also, if you are wondering how to check card balance, then you just need to follow the rules: you can check your balance by phone. To view your balance or transaction history, you need to log into your Serve Account online using the mobile app.

So, I’ve listed the main pros and cons of this kind of cards. Whether to get one or not, as well as how much to spend each month – the decision is always yours. Also, I have already told you who can use this card and most importantly where it can be used.