Although they are not really credit cards, these Prepaid Credit Cards do work for many people and they have been recommended for people that like to do online shopping. The views are mixed because some other regulatory bodies claim that the cards are nothing more than an expensive way to spend money.

Individual customers will have to make a decision as to whether these types of cards are right for them in the long run despite some of the disadvantages that have been attached to them. They also require an element of financial prudence because one has to top them up on a regular basis in order to start the spending process.

The balance that is spent on the prepaid credit cards is loaded by the user. That means that there is no line of credit that has been extended. This has important implications in terms of the ability to give minors access to the card. People that are over the age of thirteen years can use the prepaid credit cards. In fact many families give teenagers these cards to use when they are doing their private shopping, in educating young teens to start managing their own finances before going into full credit lines.

You will need to use a PIN number to get access to the full features of Prepaid Credit Cards. The loading process can be initiated at straight thru online portal, at the bank or Pay Zone, Pay Point or even your local Post Office. Some of these cards allow for bank transfers to load them. You will need to bear the different loading options in mind when purchasing your card.

Ideally you should be looking at the card that offers the most flexible options for you and your family. The credit checks on these cards are superficial so they are available to most people. However there is an identity check to ensure that they are dealing with the right person.

If you travel regularly then the prepaid credit cards are a good alternative to the traditional travelers’ checks. You might even get a very good exchange rate when you compare them with the other financial instruments that are available to you on holiday.