As the economy continues to get out of control, getting credit becomes a much more difficult challenge every day. At one time, it was pretty easy to get a credit card to make purchases, but now that it has become even harder to make ends meet, getting a new credit card may be all but impossible for a number of people. That's why so many are turning to using prepaid credit cards for their regular purchases. While these handy little tools have been a great asset for many, they are not all the same. When you're ready to choose a prepaid card, there are four things that you need to consider.

Consider the Fees:

When you're looking for a prepaid credit card, it's important that you take a close look at the fees you will be charged for using it. Since there is no regulation on how much an institution can charge you for your card, you may find out that these fees could easily eat up the money you deposit to back up your purchases. You may be hit with a monthly fee, a reload fee, and a transaction fee every time you use it. Some cards may even charge you when you're not using it. So, make sure you have looked at all the fees attached to your card before you make a decision.


You also want to consider where you plan to use your prepaid credit cards. Depending on the type of card you have, it may not be accepted at the places where you usually shop. Some cards bear the MasterCard logo, others Visa, American Express, or Diners Club. Make sure that the places where you plan to shop will accept it before you decide to put any money into the pot.

Cancellation Charges:

It's important to keep on the look out for cancellation charges, which may be imposed if you choose not to use your card for a while, or you decide you no longer need it. They may also add an annual fee to use the card, which could probably take you by surprise as well.

Comparing Prepaid Credit Cards:

Because of their complicated structure, prepaid credit cards can be very difficult to understand. One of the best ways to determine which card is right for you is to do a comparison chart. However, it may take some time to collect all the information associated with each card. There are sites online that have already reviewed the most popular cards and can provide you with a side-by-side view of them all so that you can see at a glance how they will all pan out.

The benefits of using a credit card vary from one person to the next because they're used in different ways. They can be very expensive and because of that it is well worth you taking the time to learn as much as you can about each card and measuring it to see if it will fit your needs. By doing that you can avoid being caught in a fee trap with a card that won't be able to service even your most basic needs.