Beginner Guide to
Prepaid Credit Card
A prepaid credit card in New Zealand can be an effective way to manage your spending, especially if you don’t trust yourself with a traditional credit card and want the extra security of not being able to spend more than you have in your account at any given time.
That said, there are quite a few things you should know about prepaid credit cards before you start using one, from the different ways to buy one to what happens when you spend all your money on it. We’ve got them all covered in this handy guide, so keep reading if you want to learn more about prepaid credit cards in New Zealand!
What is a prepaid credit card ?
Prepaid credit cards in NZ are cards that you load with money and then use like a normal credit card. However, as your balances can’t be carried over, they’re great for people who have trouble with debt or who have simply run out of spending money. They’re also useful if you don’t have a bank account or need emergency cash abroad (as your balance will be accepted by all ATMs). In fact, prepaid Visa cards in NZ can be used anywhere Visa is accepted—and more than 38 million locations accept them worldwide.
If you want to buy goods online using your prepaid card in NZ, it’s best to use an international credit card so you don’t get hit with costly exchange rates. The prepaid visa gift card is one of many different types of prepaid credit cards available in NZ. While these cards work much like any other type of prepaid card, there are some key differences:
The visa gift card has no expiry date; however, if you don’t use it within two years from purchase, there may be a small charge to reactivate it. The visa gift card doesn’t require ID verification when purchasing; however, if you lose your prepaid visa gift card or forget its PIN number, there may be a fee to cancel it and issue a new one.
The Benefits of Having a Pre-Paid Card
A prepaid credit card is a popular choice for those who want to avoid interest charges or bank fees and get a card that has fewer restrictions than a traditional credit card. With a prepaid visa, you only spend what you have loaded onto your account; it’s not possible to overspend.
Another benefit of pre-paying your bills with a prepaid visa is that it helps you budget better, as you will have limited access to cash on hand.
The prepaid Visa cards can be used anywhere where Visa is accepted, making them great for travel. If you are traveling overseas, you can use your prepaid card at ATMs to withdraw local currency without paying any fees or high exchange rates.
Prepaid credit cards are also useful if you need to make regular payments such as rent, insurance premiums or tuition without having to write checks or sign up for automatic bill pay services. As long as you keep track of how much money is left on your prepaid card, there should be no surprises when it comes time to settle accounts. Most prepaid credit cards come with some type of security feature, such as a PIN number or personal identification number (PIN), which makes them more secure.
How To Get One
Pre-paid credit cards allow you to pay for goods and services, before you actually own them. This eliminates interest payments, which can cost you a lot of money if you carry a balance from month to month.
In order to use your card, however, you will have to load or reload it with funds by making deposits at an ATM or bank branch. Reloading options vary depending on what type of prepaid card you choose. Most pre-paid credit cards are issued by Visa or MasterCard, so they can be used anywhere those networks are accepted.
How Much Do They Cost?
Prepaid credit cards in New Zealand are quite affordable. You can purchase prepaid credit cards for about $50, or you can purchase them for free if you choose a secured card.
Prepaid credit cards start at $10 per month. However, some prepaid credit cards charge you fees and additional costs after a few months of use. Additionally, some companies require you to pay an upfront fee before they will issue your card.
These fees usually range from $20-30 depending on which prepaid visa gift card provider is issuing your card. It’s important to note that prepaid credit cards aren’t as widely accepted as regular credit cards; however, there are still many places where you can use your prepaid visa card online.
If you want to purchase items online with your prepaid visa gift card, it’s important that you read through all terms and conditions before purchasing anything.
Best Options Available For New Zealanders
There are a few prepaid credit cards available for Kiwis, but our favorite is Kiwi Card. This is a prepaid Visa card that gives you complete control over your finances and privacy. With Kiwi Card, you can spend money with any company that accepts credit cards—just top up your account with cash at any EFTPOS terminal or bank teller.
Are They Worth it?
Prepaid credit cards in NZ offer several benefits for both those living here and for expats who need a tool for sending money back home.
However, most of these cards are not free, so be sure you know what you’re getting into before you start spending! It is worth noting that prepaid Visa gift cards can also be used as an alternative payment method at many online retailers – making them extremely versatile if you plan on shopping online.
So yes, prepaid credit cards in NZ can definitely have their uses.
Where to get one ?
At any major bank in New Zealand
At any major supermarket or convenience store in New Zealand
At any post office in New Zealand
At any petrol station in New Zealand
Online from a variety of websites
