Thoughts About Virtual Credit Cards

The need for credit cards and debit cards in today´s world is ever-present. Anywhere in Western Europe or the U.S. and Canada, businesses much prefer plastic over paper. Money is going the way of the dinosaur and in a couple of generations it will be impossible to live and not have at least one card in your wallet or purse. The problem is that both credit cards and debit cards require a bank account and some people cannot get a bank account for one reason or another. There are also children to consider. Sending a child out to the mall to buy school clothes with a wad of cash is not a good idea. Buying them a virtual prepaid credit card allows you to protect them from theft or loss and allows you to control their spending and teach them how to budget.

Virtual credit cards are very easy to get. There is no requirement for a credit check because the amount is secured by the amount of your deposit. Virtual credit cards do have a fee however but so do regular credit cards. When you get a new credit card there is usually an activation and monthly fee to consider and they also charge interest. Virtual cards do not charge interest but they do charge either a percentage of each purchase or a flat fee per purchase. This means that a credit card and a virtual credit card cost about the same thing in the long run. You do want to be careful. If you use your card for lots of small purchases a percentage fee would be best. But if you make large purchases a flat fee will save you money. The best way to find out which card is best for you is to go online and research each card.