How
Pre-Paid Cards Work after Refinancing Your Home
Consumers
who have refinanced their homes can use pre-paid credit
cards to budget their spending. Pre-paid cards gives you the purchasing
power of credit cards but limits spending
and the potential risk of getting into more
debt.
budget
your monthly spending amounts
avoid
interest rate charges
avoid
getting into more debt
limit
spending by the amount you load
use
where credit cards are accepted
use
the card to build your credit
history
User gets a prepaid card for themself or other (approval guaranteed). User adds spending money to the card based on a budgeted amount.
User or other uses card
to buy food, supplies, services, etc., at any merchant that accepts MC/VISA cards.
User can monitor
pre-paid account electronically for budgeting purposes.
Pre-paid cards can help you maintain a spending budget.
User or other can reload the card with additional spending funds as needed.
Using pre-paid credit cards are easier than checks. They help control spending so that savings earned by budgeting can be applied to pay down your debts.
Pre-paid cards can be given to spouses,
children and others.
The cards can be tied to a budgeting amount that limits spending.
