Top Reasons Why You Should Sign up for Canadian Prepaid Credit Cards

To understand why finance experts encourage Canadian consumers, like you, to apply for prepaid credit cards, join us in discovering the reasons behind the popularity of these card programs.

  • They can help pave the way towards rebuilding your credit history – that is, if you’re one of the many Canadian consumers who suffer from bad credit. In fact, by simply looking for a card issuer that will submit timely reports of your credit and payment activities to the major bureaus in your country; you can gradually work on regaining your creditworthiness. And in time, you can once-again receive and enjoy the affordable deals extended to individuals with good- to excellent credit history.
  • The approval on your request for a Canadian prepaid credit card is GUARANTEED. Truth of the matter is you can qualify for this program even if you’re yet to establish your credit history. That’s because with such credit cards, you won’t be given access to lines of credit. You will actually be the one responsible for providing yourself with available cash you can use in covering the bills, expenses, and purchases you will charge on your prepaid card account. And this is one of the main reasons why even young consumers today are very much interested in signing up for Canadian prepaid credit card programs!
  • They come with affordable initial cash-out requirements. Secured credit cards tend to come with deposit requirements that are often beyond the budget of most young consumers, these days. After all, recent studies show that secured card issuers, in general, ask for initial deposits which range from $300 to $1000.

Meanwhile, Canadian prepaid credit cards come with very affordable cash requirements. In fact, for just $75, you can look forward to receiving, activating and eventually using the line of credit you want. No wonder a lot of credit consumers are opting for these cheaper credit cards than their secured counterparts.

  • It is now possible to use prepaid credit cards in transacting deals online. The growing recognition for Canadian prepaid credit cards has prompted many an online merchant nowadays to accept such lines of credit for purchases made via the internet. So, with a prepaid credit card on hand, you can further enjoy the benefits of cashless transactions even within the confines of your home!

Important Reminders for Prospective Cardholders

  • Sign up for prepaid credit cards ONLY with legitimate and credible firms. That way, you can be sure that the cash you will submit to your card issuer will really be deposited onto your account. After all, there are scam artists today who disguise themselves as prepaid card issuers but who are really just after the cash deposit they will receive from unsuspecting card applicants.
  • Don’t jump on the first program you will find. Instead, look closely at the fees and charges imposed on several lines of credit, particularly on the reloading fees you might incur. This way, you can improve your chances of finding and eventually managing a very affordable prepaid card account.
  • Never let the funds on your Canadian prepaid credit card run low. In so doing, you can minimize your risk of spending beyond the limit or cap imposed on your transactions as well as of being penalized with overdraft charges and declined transaction fees.

view 2009 resources for Canadian Credit Cards

Elizabeth Roberts

Elizabeth Roberts

Liz Roberts and her team are continuously providing information to people who are ready to repair their credit and improve their credit score. Also NewHorizon.org team strives to empower the homebased and small business owners by bringing information that can help them to manage and grow their businesses. Let our 24+ years of business finance experience help you to get the financing you need! CONTACT US if need financing for your business.

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NewHorizon.org is an independent, advertising supported website. The owner of the site may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. NewHorizon.org has not reviewed all available credit card offers in the marketplace.

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