Aside from the obvious benefit of keeping you out of debt, prepaid credit cards offer a variety of other perks for the average consumer, including:
Increased Security--If your prepaid card is stolen, the thief would only be able to charge as much as you have on the card, which could potentially save you thousands of dollars. Many prepaid card companies also have theft protection, which means that you will not be liable for purchases made when the card is stolen.
Paying Online--Having a prepaid card will enable you to pay your bills and make purchases online. Online payment is not only convenient, but sometimes required for certain companies. It is also especially helpful for making travel arrangements and booking plane tickets and hotel reservations.
Improved Credit Score--Many prepaid credit card companies will send reports to credit bureaus for a small monthly fee, just as if you were using a regular credit card. This will improve your credit rating and save you a good deal of money, especially when you apply for mortgages or car loans.
Direct Deposit for Paychecks--Your paycheck can be automatically deposited onto your prepaid card (this often involves a small fee), which is much more convenient than going to a bank or other financial institution to make the deposit.
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