Co-Branded Prepaid Card
Benefit from the use of a prepaid card
Because of the numerous benefits that a prepaid card provides, many consumers and businesses are quickly discovering that a prepaid card is the right choice for them for many reasons. Prepaid card programs contain a great deal of benefits which are quickly being realized by the public and therefore many people are choosing a prepaid card as their preferred type of credit card to carry with them.
One of the many benefits which a prepaid card can offer to businesses is the ability to quickly load payroll funds onto the prepaid card of each employee which helps to reduce payroll costs due to the elimination of printing weekly checks for employees. Free marketing is yet another benefit which co-branded card programs which are prepaid can offer to businesses as well. As the prepaid card which features the logo or design of the company is used at retailers, they are receiving free marketing as well.
Consumer and Business benefits
Consumers can also greatly benefit from the use of a prepaid card as well. These prepaid cards provide consumers with the same benefits of a debit or credit card; however, the ability to overspend is removed which helps consumers to keep spending within their affordable limitations. This is because when funds are not available on a prepaid card account, transactions will not be able to be made. Only when the fund shave been added to the prepaid card account can transactions be made using your prepaid card. By preventing spending many consumers are able to prevent being charged high interest rates which are associated with a standard credit card.
Besides this, you can use a prepaid card at all of the same places where a debit card program or credit card can be used. This is because a prepaid card still features the logo of well-known credit lenders such as Visa or MasterCard. Retailers such as grocery stones, gas station and restaurants all accept prepaid cards as a form of payment as do most ATM locations so that consumers can quickly gain access to cash on the account as needed. However, unlike a credit card when the balance of the account had been depleted you cannot continue to spend until additional funds have been placed onto the prepaid card.
Why a Prepaid Card is the top choice
A prepaid card is the top choice of parents of teens or college students as well because by using a prepaid card program they can help their children to learn to manage money responsibly. Parents can place money onto the card of their child who then has to learn how to manage these funds in a responsible manner. Prepaid cards also allow parents to monitor the spending of their child as well. While this may be a great tool for parents, teens love the freedom which a card provides them and is a much safer alternative to carrying cash.
If you would like to sign up for a prepaid card programs please feel free to contact us we will be more than happy to assist you in choosing the best prepaid card for you and your family. Or, if you would like we can also provide you with information on other types of credit cards as well.