Everybody knows that nothing in life is free. If you want something, you better be ready to cough up some dough and pay for it fair and square.
How we’ve facilitated this, as humans, has changed drastically over the years. At first, it was with food and livestock, then riches such as gold or silver, then cash notes, and finally, now, we’ve reached the point where billions of dollars are transmitted annually through debit and credit cards. One such type of credit card is a prepaid card. A prepaid credit card functions almost exactly the same as a credit card does, but they don’t work on credit, as their balance has already been paid in full. They’re essentially credit cards with money already “on them,” as opposed to cards that you pay back at a later date.
They’re fantastic gifts for a multitude of reasons, for both adults and children alike.
Enables people to make online purchases
Young people without them, or people who have decided not to get credit cards, are hampered strongly in their ability to make purchases online. Whether it be digital goods or a physical item that needs to be shipped, without a credit card, there’s not much hope of buying much of anything online. If you give someone a prepaid card, they will have a world of possibilities at their fingertips, that sometimes can be more valuable than the money on the card itself.
Training for the real thing
Parents who are apprehensive about getting their children a proper credit card can create a relatively risk-free environment for their children by signing them up for a prepaid card program. These cards will only allow the cardholder to spend the money that has already been paid to the card, and not a cent more. Parents can use these cards by giving the card to their child, and then making them pay the parents back if they want more money to be placed on the card. This cycle can be repeated as long as necessary to teach children proper credit etiquette.
Safer to carry than cash
Unfortunately, while our world is becoming more and more peaceful as a whole, that isn’t to say we’re all completely safe 100% of the time. Carrying around a huge wad of cash is just asking for trouble, even through the relatively unfortunate event of cash just falling out of your pocket. A prepaid card is much easier to hold on to. Also, many thieves avoid stealing credit cards under the assumption it will be canceled before they’ll be able to use any of it. Many prepaid cards even allow you to report them stolen if you have either the receipt or the number of the card on hand.
If you’re looking for a gift that’s much like a gift card, but you don’t like the idea of limiting the person receiving the gift to only certain storefronts, perhaps look into the idea of prepaid credit cards. If you’re giving it to a small child that isn’t your own, it’s recommended to consult the parents first since some people don’t appreciate their children being given these types of cards too early in their financial development. Either way, there are many benefits from this type of gift card that offers other kinds of gifts out there. Being special is the whole point of a gift, isn’t it?