The benefits of prepaid credit cards

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"Berkeley Payment Solutions helps customers implement best-in-class prepaid Visa card programs. Visit http://www.berkeleypayment.com/ to build a Visa prepaid gift card program to meet your individual needs.
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The benefits of prepaid credit cards

  1. 1. The Benefits ofPrepaid CreditCards
  2. 2. IntroductionPrepaid credit cards are products that are growing inpopularity in many areas of the world. Basically, they arecredit cards that have been loaded up with a predeterminedcredit limit. The prepaid cards are typically in the form of amajor credit card, with a sponsor name attached.Once the credit on the card has been used, it may betossed in the garbage or in some cases it can be loaded upand used again. Prepaid cards can be used in a variety ofdifferent scenarios, and offer several benefits.
  3. 3. Ideal Gift ChoicePrepaid credit cards make the idealgift for virtually any occasion, andwork exceptionally well for people thatyou don’t know really well. So often,a lot of guesswork goes into selectinggifts for people and it can beextremely difficult trying to get insidesomeone’s head that way.
  4. 4. Ideal Gift ChoicePrepaid cards give the gift recipient some flexibility, andthey are limited to just one store or type of product.Sometimes, it’s the act of going out and shopping thatpeople like the most, and when they receive a prepaidcredit card as a gift, that becomes a possibility.
  5. 5. Accepted EverywhereWhen you use major credit cards like Visa as the prepaidcard, you can use it pretty much everywhere and for anyproduct or service. You might use the card to make anonline purchase, get gas for the car, pick up a fewgroceries or go to the movies.
  6. 6. Accepted EverywhereThe flexibility of major prepaid cards means that they willbe appreciated regardless of the reason they are handedout. Some may argue that a prepaid credit card is a lazyway to give a gift, but why risk getting something theperson isn’t interested in if you don’t have to? Even ifsomeone usually enjoys a certain gift, you never knowwhen they might be in the mood for something new. Aprepaid credit card allows them to choose.
  7. 7. Easily Brand CustomizedOne exciting benefit of prepaid credit cards is the option tocustomize them with brand colors in certain situations.When you’re speaking of a loyalty or rewards program, therecipients of the prepaid cards will be able to associatethem with your brand, because the card will be all deckedout in your colors and logo. It’s another way to create thatpositive mind association that all companies look for.
  8. 8. More Business BenefitsPrepaid credit cards have many more business benefitsthan simply showing off the brand colors and logo. It’s truethat the brand association will follow the card around nomatter what the application is, but you can use them forseveral interesting purposes.•Incentive Programs – lots of different businesses use employee incentiveprograms, and the cards can be used as the rewards for the employees whocome out on top. This way the employees get a prize for meeting certain goals,and that branded card is still being used out in the world. Incentive programsfor customers might also be an effective spot for using prepaid cards.
  9. 9. More Business Benefits• Expense Accounts – when employees must travel for business, there is often a lot of paperwork and discrepancies over how much was spent and how much should have been spent. Prepaid credit cards might benefit both sides because only a predetermined amount can be spent.
  10. 10. More Business BenefitsSome of the expenses where a business might choose touse a prepaid credit card include airfare, vehicle rentals,food, lodging, entertainment and incidentals. If prepaidcards are used for business travel, they are easily reloadedand used again, as needed.•Customer Rebate Program – customer rebate programs are clever marketingstrategies, because many times nothing really changes aside from thecustomer perception. Luckily, perception is incredibly important and enough toshow a surge in sales.
  11. 11. More Business BenefitsThe thought of getting something back for taking an actionthey were going to take anyway is enough to drag manycustomers over from the competition, and give you achance to convert them permanently. Using prepaid cardsfor rebate programs is fast and convenient, and it’ssomething that all customers can relate to.Depending on the type of business you run, many of thecards may end up being put right back into the business,too. This is a spot where the branding colors and logo willwork well, and the amount should be in proportion to theamount they must spend to get it.
  12. 12. AdviceAs explained in this document, prepaid credit cards arevery useful for consumers.Berkeley Payment Solutions helps customers implementbest-in-class prepaid Visa card programs. Visithttp://www.berkeleypayment.com/ to build a Visa prepaidgift card program to meet your individual needs.

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