Instant Visa Prepaid Credit Cards

Instant Visa prepaid credit cards - are they worth it? What are the benefits to using a credit card with your own money as collateral?

In my case, having a Walmart prepaid Visa credit card has helped me reign in my expenses and helped me avoid those dreaded overdraft bank fees. Having a prepaid credit card has also eliminated over limit charges on my accounts. Although prepaid credit cards have been around for awhile, I just started using one a couple years ago. I have no intention of going back to traditional credit cards!

I got my prepaid credit card instantly at Walmart, and have used it now for over two years. I track my Visa credit card online at a secure website and my balance is always available at almost any bank ATM. I can also get my account balance by text or by phone. Very simple and works well for me!

There are some people that don't agree with using your own money on a prepaid credit card. I prefer this though because I would rather carry a credit card instead of cash. I am also tired of being overcharged by banks. Using a credit card that I control costs on puts me in charge - not the bank . I have owned just about every traditional credit card there is - and found that the cost of using those traditional credit cards was very expensive in the long run. Changing percentage rates along with associated fees left much to be desired (and btw some food for thought - over 150 banks closed in 2010) That fact alone causes me to pause and wonder about our banking system, especially in today's economy.

There are many ways to get an instant prepaid Visa credit card - you can get one online, at many retailers (especially check centers) or you can get one at Walmart like I did. I use my prepaid credit card to pay bills, make purchases online and to occasionally draw out cash. There is a small fee to upload. There is also a small charge for some transactions but this fee is minimal compared to what I used to spend with my traditional credit card.

Will I ever use a regular credit card again? Perhaps, but I have no intention of doing so for a very long time. I have found that using a prepaid credit card has helped me be more frugal. I have learned to work with what I have in my budget, instead of borrowing expensive money from a credit card company (because that's what you are doing when you use your credit card - you are borrowing money) And its helpful to think about that - do you really want to borrow money for something you honestly don't need?

Our great grandparents and even some of our parents hid money under their mattresses - probably for some very good reasons. Perhaps it's time we start taking some tips from the older generation - living more frugally and within our means?

Using prepaid Visa credit cards and getting approved for an instant prepaid credit card are one way we can start getting out of debt.. Unless you want to hide your money under your bed mattress, but hey, what if your house burns down?

I like the prepaid plastic myself!

(Dorsi Diaz is a freelance writer and publisher who writes about a variety of topics including living frugally, kids,health and topics of the day. Please feel free to join her reader/fan club and subscribe to her RSS feed so you can be notified when she publishes new articles. Thanks for reading and feel free to leave to a comment)