Despite all the advantages that prepaid credit cards have, they also have certain shortcomings that need to know about. In the article we will tell you about this to help you make more reasonable decisions when applying such cards.
What are the shortcomings of prepaid credit cards
When using prepaid credit cards on the Internet, it is important to know in which stores you make purchases. Some sites are fraudulent, and you, having paid for products or services, will never receive them. Making purchases on the Internet with the help of a prepaid credit card can put you in a risky position due to such types of fraud.
Going for shopping, always check the balance of your card in order to make sure that you have enough funds to make a purchase. And not that you may be in the curiocous situation and, having defended a long line to the cashier, you will understand that you do not have enough funds on the map to buy. This is one of the main disadvantages when using prepaid credit cards, because, unlike cash that can be counted in a wallet, you will have no way to find out how much you have to spend. Therefore, it is important to go on the Internet and check the balance of your card and control the history of transactions.
What are the shortcomings of prepaid credit cards
Another disadvantage of using prepaid credit cards is that many establishments, stores do not accept them. This is especially noticeable when you travel to other countries. Small restaurants, shops in foreign countries accept only local currency. Therefore, you have to carry a small amount of cash with you.
Another problem with prepaid credit cards is that they represent opportunities for abuse of merchants. Many people complain that when making purchases in restaurants or stores, merchants take more money than they need. This cannot happen with cash, because when you pay in cash, merchants do not have access to your account. The best way to avoid this is to pay a credit card only in authoritative stores and immediately check your balance after transactions. Sometimes errors happen, and it is important immediately, as soon as possible, to identify them.
The last problem is that sometimes, when using prepaid credit cards, you will not get access to your own money. Therefore, many people are very disappointed in such cards when they are not able to withdraw their own money from ATMs when they really need it. Although this does not often happen, it is another good reason to carry cash with you.