Summary: We can take advantages that are similar to credit card through vanilla prepaid MasterCard without any credit debt.
The Vanilla prepaid MasterCard are issued to those people who are living in United States of America and having the citizenship also. A proper address should be provided at the purchase of card so that card can be shipped with convenience. In case we do not have the local address in U.S. then card can be issued to any of our friend or a family member having the local address of U.S. If we receive any message regarding the card then these messages should be forwarded immediately to them, so that further proceedings can be continued.
These cards are the prepaid credit cards that are generally offered by the FDIC bank. Cards can be used at most of the places in U.S. and they can be used at many of the ATM machines also. There is no need to reserve a fixed amount of money with these cards. We can expect it to get issued after two to four days from the purchase of it.
For a teen it could be quite difficult to handle credit as a result they got stuck into financial problem resulting into credit debt. So, in order to teach how to plan budget for their expenditure and preventing irrelevant expense they should be provided reloadable debit card from master card. It is easier to get cash with the help of these cards. Once they are master in maintaining the monthly budget they are capable of using a prepaid master card.
Not only for expenses but these cards can also be used for saving also. This saving process can be much better than old saving practice like keeping the amount left after cutting down all the expenditure into a wallet or a money bank. These saved funds are used upon grocery essential and over other credit debts. Savings under these cards are much more secure than the savings kept in a wallet as these wallets can be stolen very easily. So, there is a risk upon these savings and in order to overcome these risks a MasterCard should be preferred.
Opposite to the master cards the credit cards are being are provided through a mail on a consumer’s email id which is free of cost. Moreover, little bit of balance comes with this card through companies which is to be paid later on. In addition to this a small amount of fee has to be paid at the time of the purchase of MasterCard which make it beneficial for companies as well as consumers. While consumer get a vanilla prepaid MasterCard to add the balance later on, on the other hand companies take benefit from the fees paid.