Prepaid credit cards or debit cards are a great alternative to credit cards for those Australians that like the benefits of Visa, without the monthly interest repayments and giving you peace of mind that you are using your own money.

Features

Prepaid credit cards give you the same access to payments as normal bank Visa and MasterCard. This means that with a prepaid debit card you can make online purchases, purchase items at a department store or pay bills online. The only difference is that instead of using borrowed money that you pay interest on, you are using your own money that is already in your account. This is perfect for those that do not want the hassles of high interest rate repayments.

Suncorp are making a major push in the Australian banking system with the introduction of some great new products, one such item is the Suncorp Prepaid Visa Debit. You receive a Suncorp Visa Debit when you sign up for the fantastic, Everyday Options Savings Account, a convenient and cost effective bank account. You need no credit history to apply and there is no annual fee or transaction fees for purchases.

St George has entered the prepaid credit card market with the St George Visa debit card. The St George Visa debit card is available when you sign up for a St George Complete freedom account that allows you to access your own money with a low monthly fee, that is waived for the first 6 months.

ANZ has also entered the debit card market with its ANZ Everyday Debit Visa. The ANZ Everyday Debit Visa gives you all the access you need with its affiliation with Visa. Perhaps the best features of the ANZ Everyday Debit Visa are the special offers that include: pre-sale periods to concerts and live events access to the best seats in the house, special offers on movie tickets, exclusive merchandise packages and special offers on home entertainment products.

NAB has introduced the NAB Smart debit card offer. The NAB prepaid debit card has a special no ATM fee feature that allows you to use your card in Australia or overseas without any NAB ATM fees. You also get unlimited Visa purchases for absolutely no charge. There is a monthly fee of $12 that when all things considered is not too bad for the features you receive with this new debit card deal.

Conclusion

Pre paid debit cards give you all the advantages of Visa and MasterCard. Purchase ability without the hassles of interest repayments. If you are looking into signing up for a debit Visa then St George, NAB and ANZ prepaid credit cards are currently advertising fantastic special offers.

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Why Choose a Prepaid Credit Card Offer?

Prepaid refers to amount paid in advance for the services provided. Prepaid accounts are resources which increase by debiting the accounts. A prepaid credit card account is opened by depositing money into that account. As soon as you deposit money in your account, you are issued a prepaid credit card that can be used anywhere. The advantages of prepaid credit cards in Australia and worldwide are as follows:

1. Prepaid options are cost effective over postpaid as they allow customers to check and budget usage in advance.
2. Unlike postpaid, prepaid accounts can be obtained with cash so people who have minimal identification, poor credit rating or those on low incomes are typical prepaid customers.
3. The best part of the prepaid credit card is that you can charge to your heart’s content and you won’t be in debt. The money is yours and once it’s gone, you can’t spend any more until you make another deposit.
4. There are no bills and no interest charges because you cannot spend more than the limit set by the card and the amount of money you deposited for the card.
5. They can be used worldwide.
6. Balance from one card to another can be transferred if your prepaid card expires, with balance in the account. But while doing this, read the terms and conditions of the cards because different cards have different terms and conditions.
7. They are useful for people whose applications for regular credit cards were unsuccessful due to a bad credit rating
8. They are a great option for those Australians that like the benefits of visa, without the monthly interest repayments.
9. They are perfect for those people who don’t have controlled spending habit.
10. There are no unexpected agent fees for the recipient, and no need to carry large sums of cash.

The Australian consumer must realize that prepaid debit cards gives all the benefits without the hassles of interest repayments. Even if you compare it with options like wire transfers, money orders or other agent-based money transfer options, prepaid credit card has all the advantages.