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7 Reasons Why Prepaid Cards Are Better Than Credit Cards + VMoney Give-Away

Are you a fan of prepaid cards? I am. 
vmoney prepaid card
VMoney is a revolutionary way to pay.

 You see, my mother and I were staring at each other, unblinking and unwavering. I looked deeply into her eyes and tried to decipher what she was thinking. 

“Ma, I thought you were paying since I told you I didn’t have cash with me.” 

She didn’t reply.  Instead, she shrugged and continued staring at me. Minutes after, I couldn’t hold the tension anymore. 

I finally gave up. 

“Okay, okay, I’ll pay the bill. I’ll use my card instead.” 

That incited a reply from her. “What?!” she said. “I thought you don’t use credit cards?” 

I smiled smugly. “It’s not credit card. It’s a prepaid card.” 

Prepaid cards are such a gift from heaven. Honestly, now that I have one, I don’t carry that much cash with me anymore. Oh, how amazing are prepaid cards, you ask? Let me count you the reasons: 
1. Prepaid cards are convenient for you.
Planning to buy a laptop? You don’t need to bring your obese wallet with you anymore.
Going to treat your whole family to a fine dining establishment? Say good-bye to hundreds of peso bills bulging up your purse.
With prepaid cards, you get the same value for your peso minus the added weight.
2. Credit cards make you incur interest – prepaid cards don’t.
You won’t need to pay any interest, regardless of the amount loaded in your prepaid card. Who cares if your prepaid card only has P500 in it?
As for credit cards, if you have an outstanding balance in it, that balance is rolled over and is subject to interest. Meaning, that P1,000 balance you owe right now may already turn to P1,100 next month!
Your prepaid card isn’t linked to any bank account or any comprehensive and pertinent personal information, so your thief would have a difficult time accessing any of your records.
4. Prepaid cards = no debt.
You don’t owe anyone any money, so using prepaid cards won’t make you drown in debt.
5. You are able to set a budget for your planned purchases.
For the holiday season (which is obviously going to happen every December), there’s no need for you to panic-buy and go over your credit card limit!
All you need to do is to load a specific amount to your prepaid card every payday and use that same card to shop for Christmas gifts for your loved ones.
6. You don’t need to encounter too much paperwork anymore.
No meticulous credit checking is necessary, either, because technically, you’re not going to borrow money anyway. For example, with VMoney and BPI My ePrepaid, a valid government ID will suffice.
7. Prepaid cards are flexible.
Personally, both my VMoney and BPI My ePrepaid cards use MasterCard, so I can use them in any facility that accepts MasterCard.
VMoney Give-Away
To help you make the transition from credit to prepaid much smoother, my friends at VMoney are handing out free MasterCard cards to the first 50 people who comment on this blog post.
Leave a comment which answers the question: Which is better, credit cards or prepaid cards? and you’ll get a free MasterCard card. (Please be sure to comment with your email address as well!) 
Awesome, right? Deadline’s only until January 30, 2014, so tell all your friends!

Fired up to manage your money yet? Contact your trusted financial advisor (or me! 🙂 ) to help you get started. 

If you find this post helpful, please SHARE it to your friends. Who knows, they might like it as much as you do. 🙂 Thank you, awesome people!

Live wisely,

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