Introduction
Paying with cash is not much of a possibility when it comes to online payments. Even in real life, paying with cash can pave way for a variety of inconveniences like not having change, worn out bills and many more. There is also the chance of ending up with forged bills. That is why, plastic money or cards have come into the picture. Cards help make our lives easier not only online, but also offline. Cards are of 3 types, viz., credit cards, debit cards and prepaid cards. VISA is a leading manufacturer of cards across the world. Prepaid cards of VISA are also called V – Preca. In this article, we will try to compare these 3 different types of cards with each other to understand what is best for you. So, let us now have a look.
Credit Cards, Debit Cards or V – Preca/Prepaid Cards?
● Credit Cards
Credit cards can be very useful. It is a card that allows you to basically spend money you do not have. When you make a purchase with the help of a credit card, the amount is simply added to what you owe the company that the card belongs to. In a way, the credit card makes the purchase on your behalf. You can pay what you owe in accordance with your personal convenience at a later time.
For instance, suppose you want to play a game of blackjack at your favourite online casino, but the deposit is too high. Even if you don’t have enough in your budget, you can still pay with your credit card. That is why, according to PikachuCasinos, the best casinos often encourage players to pay using credit cards. Nonetheless, there is a negative aspect to this. Using a credit card might make you get carried away. you may end up biting more than you can chew. There is a limit up to which you can afford to owe. If you don’t be cautious, you might even end up in a debt trap. So, be careful.
● Debit Cards
Debit cards are among the most convenient ways of conducting financial transactions. The card is directly connected to your bank account. Every time you make a purchase with the help of a debit card, the amount is instantly deducted from your bank balance. So, you have absolute clarity about how much to spend. In case of debit cards, you cannot spend more than the amount you have stored in your bank account. However, you can be exempted from this if you avail the overdraft services of your bank.
The bank can agree to make payments on your behalf in exchange for a minor fee to be retrieved later. So, suppose you want to buy an appliance at an electronic store for 10000 rupees with your debit card. However, 7000 rupees are your bank balance. You can still make the purchase as the remaining 3000 rupees can be paid by the bank. As you refill your bank account later, the amount that the bank had paid will automatically get deducted along with an extra amount that the bank will take as an overdraft fee. So, if the bank charges 100 rupees, then 3100 rupees will get deducted.
● V–Preca/Prepaid Cards
Prepaid cards like V – Preca can be an ideal way to make payments. This is especially true for transactions involving smaller amounts. A prepaid card does not have to be connected to any bank account. As is evident from the name, a prepaid card basically pays the money that you have paid it beforehand. You store some amount in the card and the card makes payment from that stored amount.
When the entire amount that you had stored gets paid, the prepaid card cannot make further transactions until you make a refill. This is the reason why gambling enthusiasts consider prepaid cards the best way to make payments at online casinos. Spending more than you can afford is a common tendency in gambling psychology because the best casinos always have the best games. That can be prevented as prepaid cards don’t allow you to exceed your budget. This teaches the user to value every penny. However, prepaid cards are not that useful for very large payments.
Conclusion
It is to be noted that each of these modes have its own pros and cons. Which mode you choose depends on your personal needs. Suppose you want to make a big payment, but making such a huge deduction from your bank account at a time does not seem feasible. Then, use a credit card. If you want to stick to a tight budget, use a prepaid card like V – Preca. Nonetheless, if you want to have a middle ground, debit cards are the way to go.
You can find the original article at https://steemit.com/video/@takuma.tanaka/video-game-trends-in-asia