Kredittkort Or Credit Card Alternatives

How credit cards changed the way we spend - BBC News

For some individuals, to spend without using cash when they are out of the country, booking online, shopping, and dining to name a few is convenient because they have credit cards to swipe or keyin. But most consumers who don’t have this will have to use funds and pay for various expenses directly from their pockets so they must always carry their wallets. Both methods are just ways of how people make payments, anyway so you are free to choose how you would like to settle your bills – learn more from for your options.

By the way, not every consumer enjoys the benefits of cashless transactions because they sometimes can’t resist the temptation of purchasing unnecessary items and that usually leads to overspending. Keep in mind that there are limits to your daily expenditures so make sure to deal with your priorities first because after your limit is reached, you’ll have to pay in cash. We should not be too excited to shop for any stuff, especially when this is not essential, instead, we have to control our usage and save it for emergencies.

It is easy to send applications to acquire these cards from various companies but without a stable income and incomplete requirements, you may not be granted one. This means that you have to find other alternatives for your specific needs because you surely have a purpose for why you wanted to have one. Later on, when you are ready then apply for it but for now, let’s take a look at your alternatives since you lack a very important document, which is the proof of your income or employment certificate.

Supplementary Credit Card

Some credit card companies provide special benefits to their clients that’s why they issue an extension of the primary cardholder who among your children or siblings would you like to share this perk? This will allow other members of the family to experience the benefit of cashless transactions, though spending is also limited. With this alternative, you do not need to apply and send documents that you find difficult to prepare that’s why you can’t be the principal account holder.

Now, if you have someone in the family who owns a primary card, then ask them to supplement one for you since you can’t manage to get this for some reason. In this way, you don’t need to borrow this from them because with this alternative, you can also earn rewards, loyalty points, and promos just like regular owners. Be aware that they can control your spending because they are allowed to set a limit to this and I supposed this is not a bad idea.

Applying for this may be done through the main cardholder so you have to ask him to enroll you as one of his supplementary cardholders. That is the only way you can get it so if no one in your family did not avail a credit card, then nobody can sign you up. In that case, this alternative isn’t for you so better try another solution for funding your purchases.

Top Benefits of Credit Cards in Our Daily Lives - Verve times

Prepaid Card

Pretty sure that you are aware of various prepaid services that can be used only after sending credits to these accounts which means that you have to top it up to continue the full function. Some of these are applied in mobile data for Internet use, call, game, SIM, and transportation to name a few, which are common in different countries. The alternative that we are talking about is the same with such services and works on cashless transactions as well so make sure that you will spend the funds on establishments that are accepting Master or Visa cards.

Let me remind you that before using this, make sure to top up from banks, kiosks, or shops and I guess you can also send funds online so you may choose whatever is convenient for you. With a prepaid, you won’t be bothered by overspending because you are only allowed to use the amount that you deposited on the account so that’s how you set the limit for usage. This might be inconvenient for some users, but it is also beneficial in some ways because aside from cashless transactions, you can use this to purchase products online, withdraw for emergencies, transfer money to other accounts, and mobile phone services.

Another good thing about this is that you don’t need to maintain balances unlike a bank savings account that you opened for your or your kids and most of all, minors can get this, too. Anyway, if you would like to avail of this funding, then you have to go online and send your application but you may also visit the office of the providers to apply in person so that you can get your card immediately. And then, be sure to bring a valid identification card because they will surely require you to give a photocopy.

Secured Credit Card

This is for your last alternative option which is used just like other credit cards but you have to comply with the requirements of the banks or other financing companies. You need to prepare collateral here by depositing a certain amount for your savings account or a time deposit, which is sometimes confusing for first-timers because you’ll feel like you are just opening a bank account. But this is necessary because, through this savings, the bank can determine how much they will set for the credit limit so the higher you deposit, the higher your limit would be.

The limit usually ranges from 80 to 95 percent of the funds you deposited on your account so you still have the remaining balance secured and that is 5 to 20 percent – read here to learn more about the limit. Now, you have to maintain this account for a minimum of 1 year so you should not spend the fund, instead, you should save more so that you can, later on, upgrade this account. After a year, you may start requesting an application so that the bank will convert your current card to a regular one which has more perks to look forward to.

Granting your request will be easier even when you are unemployed because you secured your funds and maintained your limit so when you missed your dues, you still have a deposit where the bill will be deducted. Pretty sure that you can easily find banks that are offering these services so simply inquire from the clerk in-charged of this then sign up. All you need to complete your application is your identification card, cash for your deposit, and the usual forms they will ask you to fill up.