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READYdebit Prepaid Visa Card

READYdebit Prepaid Visa Card

If you are looking for a good prepaid credit card then the READYdebit Prepaid Visa Card could be the option for you. Designed for those who have been refused credit elsewhere, the card serves as a good way to build your credit rating either after falling into unmanageable debt or by never having the means to begin a credit history. Working in a similar way to a pay as you go mobile phone, prepaid credit cards give you the chance to only spend what you put in, allowing you to manage what you spend and owe more easily.

So why opt for a Prepaid card? Well simply they may be your only chance to be on the credit ladder, and with banks more unlikely to give out on poor credit scores than ever before the prepaid market is growing.  A prepaid card will allow you to build your credit worthiness while protecting you and the lender from debt, while applications usually require no credit checks, meaning you will not have numerous failed checks against your name.

Credit Card Review

Credit Card Review

The READYdebit Prepaid Visa comes with many options; when you apply you will need to weigh up if they are to your benefit or not. While the chance to build your credit is a pro, it is not guaranteed with the READYdebit Prepaid card, because the credit reporting agency which your bill records are sent to is not considered a credit bureau by many lenders.

The problem with this prepaid credit card is that the choice of plans it offers all come at a cost, and there seems to be no plan that is a really stand out, not to be missed opportunity. In fact each option hits you in the wallet while offering little in the way of rewards or good features. You can choose between high monthly payments of up to $14.95 a month but with less fees issued against transactions, or alternatively you can opt for a lower monthly fee of fewer than five dollars, but pay more transaction fees. It goes without saying that neither carries much appeal.

The sheer breadth of plans and options means getting the best out of your READYdebit prepaid visa is confusing at best. The card offers a maximum deposit and limit of $10,000, while daily purchases cannot be higher than $2500. Of course the READYdebit gives the cardholder the chance to have a prepaid credit card that is a VISA, and as it is your money you are spending (and not incurring debt) the card becomes an able substitute for a debit card. Allowing you to withdraw up to $500 at ATM machines and make purchases, negating the need to carry cash.

If you are looking to re establish a good credit score then prepaid credit cards could be the answer, however the problem with the READYdebit Prepaid is that it cannot promise even this. And with a bewildering array of plan options, reading the fine details of your chosen plan would be a must. If you are simply looking for a solid prepaid card then this could be for you, but with the large fees it may be off putting for many.

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