Prepaid Credit Card

A Prepaid credit card is a smart choice if an individual needs to have
a credit card to show proof of identification, secure a reservation or
make a purchase online. Its easy to get a prepaid credit card, all you
need to do is open an account by depositing money into a special
account like a checking or savings account at a bank. Once you have
money in your account, you're issued a prepaid visa or master card
credit card that can be used anywhere one would use a regular credit
card.
http://www.cnful.cn/zz/prepaid-credit-cards.htm

On Dec 6, 6:15 pm, sht...@yahoo.cn wrote:
> A Prepaid credit card is a smart choice if an individual needs to have
> a credit card to show proof of identification, secure a reservation or
> make a purchase online. Its easy to get a prepaid credit card, all you
> need to do is open an account by depositing money into a special
> account like a checking or savings account at a bank. Once you have
> money in your account, you're issued a prepaid visa or master card
> credit card that can be used anywhere one would use a regular credit
> card.http://www.cnful.cn/zz/prepaid-credit-cards.htm

What is the difference between an ordinary debit card and this prepaid
credit card. I have never used a debit card to make purchases over
the internet, but have always used a credit card, as this has been
required, e.g., anonymous proxy server fees. It seems that it is
just semantic bull****, as with capped mobile phone plans.

virgmob007@netscape.net wrote:
> sht...@yahoo.cn wrote

>> A Prepaid credit card is a smart choice if an individual needs
>> to have a credit card to show proof of identification, secure a
>> reservation or make a purchase online. Its easy to get a prepaid
>> credit card, all you need to do is open an account by depositing
>> money into a special account like a checking or savings account
>> at a bank. Once you have money in your account, you're issued
>> a prepaid visa or master card credit card that can be used
>> anywhere one would use a regular credit card.
>> http://www.cnful.cn/zz/prepaid-credit-cards.htm

> What is the difference between an ordinary debit card and this prepaid credit card.

A debit card works on an account at a bank or FI, this card stands alone.

That means that anyone can loot the debit card for the
amount you have in the account, and potentially more than that.

You cant get any more out of the prepaid credit
card than has been put into it, so your risk is limited.

> I have never used a debit card to make purchases over the internet,

I have.

> but have always used a credit card,

So you are potentially liable for having it looted by
dubious operations you give your card details to.

> as this has been required, e.g., anonymous proxy
> server fees. It seems that it is just semantic bull****,

Nope.

> as with capped mobile phone plans.

Those arent either, they are different in detail to normal mobile plans.

> I would think that any internet retailer of goods and services would
> be wary of a debit card, as there is no guarantee that there would be
> any cash in the account, whereas that is not the case with a credit
> card.
Wrong. The retailer has no idea if its a debit card or a credit card, all
that matters is that their software (or those of their merchant payment
processor) talks to the software at Visa/Mastercard/etc which then talks to
the software at the bank or other card issuer. The bank/card issuer then
checks the account and either sends a "yes" or "no" back to the merchant to
record if there is enough money (in the case of a credit card, enough money
left before the account holder hits the limit, in the case of a debit card,
enough money in the bank account) and if there is a "yes", it deducts the
money from the amount left (for a credit card) or takes it from the account
(if a debit card).

Obviously thats simplified from what really happens but thats basically how
it works.

virgmob007@netscape.net wrote
> Rod Speed <rod.speed....@gmail.com> wrote
>> virgmob...@netscape.net wrote
>>> sht...@yahoo.cn wrote

>>>> A Prepaid credit card is a smart choice if an individual needs
>>>> to have a credit card to show proof of identification, secure a
>>>> reservation or make a purchase online. Its easy to get a prepaid
>>>> credit card, all you need to do is open an account by depositing
>>>> money into a special account like a checking or savings account
>>>> at a bank. Once you have money in your account, you're issued
>>>> a prepaid visa or master card credit card that can be used
>>>> anywhere one would use a regular credit card.
>>>> http://www.cnful.cn/zz/prepaid-credit-cards.htm

>>> What is the difference between an ordinary debit card and this prepaid credit card.

>> A debit card works on an account at a bank or FI, this card stands alone.

>> That means that anyone can loot the debit card for the amount
>> you have in the account, and potentially more than that.

>> You cant get any more out of the prepaid credit
>> card than has been put into it, so your risk is limited.

>>> I have never used a debit card to make purchases over the internet,

>> I have.

>>> but have always used a credit card,

>> So you are potentially liable for having it looted by
>> dubious operations you give your card details to.

>>> as this has been required, e.g., anonymous proxy
>>> server fees. It seems that it is just semantic bull****,

>> Nope.

>>> as with capped mobile phone plans.

>> Those arent either, they are different in detail to normal mobile plans.

> Well, that is interesting. As far as using credit cards over the internet is
> concerned, as you would probably know, you have to have the "https" (prefix?)

Yep.

> in the URL, and a lock icon on the task bar, and if you are in
> NetBank (which is only for the Commonwealth Bank, I suppose),

Yep.

> then, as a matter of course, you check if there are any rogue transactions,
> and, presumably, you are remedied by your Bank if there are.

Its more that if you dispute that you ever authorised the
transaction, its up to the merchant to prove that you ever did.

> I would think that any internet retailer of goods and services would be
> wary of a debit card, as there is no guarantee that there would be any
> cash in the account, whereas that is not the case with a credit card.

Thats just plain wrong. Any credit card can be at its credit limit, and so
so any merchant with a clue checks that the card issuer is prepared to
authorise the transaction before they deliver the goods or service.

So in practice there isnt any practical difference
in that regard between an credit and debit card.