Family
households can use pre-paid cards to budget
their spending and life-event expenses:
- budget
your monthly spending amounts
- limit
spending by the amount you load
- avoid
getting into debt
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- use
to pay for life expenses as needed
- use
where credit cards are accepted
- avoid
exposing your home equity to fraud
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| User gets a prepaid card for themself or other (approval guaranteed). User adds spending money to the card based on budgeted amount. |
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User or other uses card
to buy food, supplies, services, etc., at any merchant that accepts MC/VISA cards. |
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User can monitor
pre-paid account electronically for budgeting purposes.
Pre-paid cards can help you maintain a spending budget. |
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| User or other can reload the card with additional spending funds as needed. |
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| Using pre-paid credit cards can protect the home equity credit line from mis-use and fraud since the money card is independent of the equity line. |
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| Pre-paid
cards can be given to spouses, children
and others. The cards can be tied to
a budgeting amount that limits spending. |
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