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Why to Use a Prepaid Debit Card Instead of a Credit Card?

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During the 1990′s due to the great losses credit card companies had to look at a different ways of securing their debts. At that time they found a new way of secured credit card and following close behind came the prepaid debit card. Prepaid debit cards are now issued by most credit card companies, such as Visa, American Express and MasterCard.

The functional procedure of this card is that, funds are added to a prepaid debit card at a retail location or through an online bank. This card works almost similar to a prepaid phone card. Actually, a prepaid debit card is cash that has been applied to a plastic card, this is done so that the funds can be accessed electronically. A limit is assigned to this card that is identical to the amount deposited for that card. Each time you use the card, the amount on the prepaid debit card reduces until the funds becomes zero.

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September 2011
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