Would you recommend a disposable Visa credit card or a real credit card? Cons and pros please?
I’ve been hearing about credit cards that are offered by Visa which you pay X amount of money and that’s your credit line…and you can throw away this card. I mean I think it’s good because you can’t get in trouble with them, right?
Really depends on what your intention is in using the credit card. If its to build up credit, a disposable card will not do anything. You’ll need a secured credit card. Disposable VISA cards are nice as gift items, you get them sometimes for rebates, that’s the main use in my book. I wouldn’t go out and get one. Better off getting a real credit card preferably with points and pay off the balance each month and build up credit history.
It depends on what you want to do. If you want to shop online and not have to worry about being able to pay it back great get the reloadable one. But you’re right the regular ones do get you into serious trouble with interest rates and late fees. You end up paying off just the interest rates.
But if you just want a credit card for around town use your debit/check card. That way it comes straight out of your checking account no interest fees and when your out of money no more spending which means you can’t get into too much trouble later.
The best thing the disposable credit cards are good for are parents who want to send the kid some money with out the child being able to tap out mom and dads credit. Or use one to put $x amount on it for emergency car troubles.
Well, it’s “good” in the sense that you can’t spend what you’ve not already put on the card but it is a “throwaway” which I don’t agree with. Society has too many disposable items and we all need to stop accepting that kind of mentality as hard as it is.
Personally speaking I think it much better if a person can completely avoid credit cards as they’re simply an excuse to increase consumerism.
As for the best option, if you’re a responsible person and don’t overspend, the credit card is better than the disposable one.
I find that debit cards linked directly to your checking account are best, they have either the visa or mastercard logo and are accepted anywhere a card is. the difference is you must have the funds in account to pay at the time of use. No credit is extended. The only bad thing here is spending money that would be better left in the bank.So make sure to keep a savings account as well where you dont touch the money. and what is in checking can pay bills online or be used for purchases online or deposits required when renting a car etc.can use for automatic bill paying monthly etc. It’s almost impossible to function with out a card in this day and age,
To build credit where you have none or a bad past you can aquire a secured account through your bank , for example giving the $2500 to hold as security and giving you a card for that amount of credit, and it acts and is a charge card, eventually you will recieve invites and offers for other cards on a credit basis.The pre pay credit cards are not accepted at many places or always online, and when buying it , it is not issued immediatley.
I use a debit card, and do not use credit at all, this stems from a very strict father when I grew up who forbid credit cards, He said “If I don’t have the money for something, don’t buy it”
It would be a good idea if you are a discipilined person to have ICE(in case of emergancy). But for shopping I think credit cards are irresponsible and tempting to buy impulsivley and get into debt.
YOU SHOULD REALLY CONSIDER GETTING A REAL VISA CARD…if you have a bank account especially with BofA they will give you a credit card…..remember that once you establish a credit history (which is what you should be going for)…this will enable you to start building credit