Prepaid credit cards had been launched few years back, ever since they are becoming more popular. No credit check and no monthly payment make it attractive package of plastic money. There are two types of plastic cards available in the market, charge cards and gifts cards.

Charge Cards – It works like normal prepaid credit cards that are linked with your saving account. Whenever you purchase something, Card Company deducts the amount from your saving account on the spot. It is not credit; you use your own money. Even you can withdraw cash from any ATM centre too.

Gifts cards – It is provided by retailer, and you can only use this card to retail chain. Amount will be deducted from the saving account but you are not allowed to withdraw cash from this card.

Prepaid credit cards are easy to carry and very safe option. No other person can use them without your permission. They also help to manage your budget because you can’t spend more than your limits. Consumer can easily apply for them online by providing some personal information and can get the plastic card at the door step with in 24-48 working hours.