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When i first heard someone tell me that “there are prepaid credit cards”, i thought to myself, “what on earth are they talking about.” I then took it upon myself to do some research and find out if they actually do exist and they actually do and i thought i’lld share my findings with you today.
Basically it is a credit card which functions exactly the same way as a normal credit card but you can not get into credit with it. Once the amount preloaded onto your card has finished that is it, you can not use the card anymore until you ‘top it up’. It uses the same concept as a prepaid cellphone line.
So i thought, what would the benefit of such a card be? Well the answer is simple, not everyone qualifies to have a credit card, especially now in South Africa with the new National Credit Act (NCA) but a credit card is so convinient in doing day to day transactions without carrying cash. But then one may argue that you can just use your debit card. True but there are some transactions that a debit card will not allow you to do. First one that comes to my mind is buying airline tickets online.
I know it has happend to many people, you get online and want to book a flight and they ask you to pay by credit card, you don’t have one and then you stuck. Now if you have a prepaid credit card, you know that you can use it to buy your ticket online, as long as you have a sufficient balance in your card. This will not only be limited to purchasing airline tickets but also all your internet shopping where a credit card is required.
I think this is a great product and would do well in South Africa and would definetly overcome the barrier that is not allowing people in South Africa to do a lot of online shopping because they may not have a credit card or they are affraid to use their credit card online for the fear of having the credit card information ’stolen’.
To find out more about prepaid credit cards and if you are interested in obtaining one, visit www.globalcard-services.com and find out more.
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Great concept i think. We should see one of the banks in SA implement it.
SA banks won’t do that for a while….I didn’t know that you cant book plane tickets with debit cards in SA…weird.
But surely it would be an added revenue stream for the banks as the can capitalise on the bank charges per transaction?
It would be beneficila to banks but people would not want to get those cards because prepaid credit cards charge interest on each transaction. In order to get one you have to put money down as collateral. This would be like paying interest on your own money which I don’t think people would be willing to do.
It a great service. Was actualy looking 4 such in SA. But 4rm ur tone I gather SA stil doesnt have one. That sad.:-(
Where can I get one of these cards?
i want to get a prepaid credit card in south africa
So whats the difference between prepaid credit card and debit card - they both work on exactly the same principal.
To get the Prepaid card from South Africa click on this link http://www.bidorbuy.co.za/jsp/item/Item.jsp?Trade_TradeId=8082547
Prepaid cards are great,but there is not a single card authorized by Mastercard in the US allowing loads of $35000. Beware-Beware-Beware. It may seem a goos idea for money remittance or getting cash out,but this is a scam and not endorsed SA Fin .
If the maximun is 35000 dollars does that make it a scam? A scam is where you put money and never gets it back. i have this card my self and use it everyday. not a single cent has been deducted which i didnt know about. For froeigner in SA who are not eligible for credit cards but have bank accounts. this is the only way for you to shop online
I like the sound of a pre paid debit card when will SA banks catch a wake up and stop ripping us off.
I like the sound of a pre paid credit card when will SA banks catch a wake up and stop ripping us off.
where can i get a prepaid credit card from
I am presently residing in Nigeria but would need a prepaid card denominated in rand, pls how do I go about it?
I think they are a great idea - if you loose it you still have the money safely put away and just get a replacement. Also, they’re a great way to stick within your budget every month
ABSA are offering a prepaid CC and have been doing so for a while now.
*sigh* There was a time when journalists verified far-fetched stories like this. Like the unicorn, pre-paid credit cards for South Africans do not exist. Take a look at ABSA’s website Glen, and click on the pre-paid credit card link. Oh, wait, there is no such link. Maybe you haven’t informed ABSA of their great offering yet? I’ll be kind and assume that you got confused with their pre-paid DEBIT card, which some journalists label as a credit card.
For obvious reasons, these things do not exist in 3rd world countries. Wake up people! Journalists get paid per article and all probably desire to write a great novel, so fictitious articles such as this one masquerade as fact.
Its 2010 now! Is there any bank in SA thats offering prepaid or reloadable credit card? I really need one
Seems like there’s quite a fair demand on this prepaid credit card system. So why is it that our nations banks dont seem to be responding to this brilliant idea? unless im missing something here.. could it be a success or an epic fail?..
THE ONLY PRE PAID CREDIT CARD IN SOUTH AFRICA IS AVAILABLE ON THIS WEBSITE. GO TO WWW.JAMMING.CO.ZA. CLICK ON JOIN AND MAKE USE OF THE FOLLOWING MEMBERSHIP NUMBER TO ORDER YOUR CARD. 102446603
GO TO WWW.JAMMING
Agree with CJ. Jamming is the answer, not only doyou get a pre paid visa credit card, but you also get to participate in a ’serious’ buying group. Yeah I know the skeptics will see a multi level marketing plan, and doubt it, but what is there to loose. I think Jamming will take this country by storm, and thse that get in early will make a killing.
There is no interest charged on the card
I deal with prepaid cards 1.There is an initial start up fee and then there is a small transaction fee on the cards.This is one of the best methods out for someone who has bad credit to get a credit card and to rebuild his credit
Jamming Rocks 
And more companies are adding discounts for using Jamming Cards as payment method.
