Credit Card Alternative for On-line Shopping?
Question: I agree with you Melody. I am not going to give someone access to my checking account (which is what a debit card does) online. But as I said before, getting a major credit card (Visa, etc.) has been a problem because of the credit fraud that happened before. I could get a secured card or one with hefty annual fees or interest, but I’m just not willing. Everything pertaining to me should allow me to have one of the “good” credit cards. It’s the credit fraud that screwed it up.
I still think this is a business opportunity that someone should pursue. We have pre-pay, fixed amount cards for phone calls, gasoline, etc., why not one for on-line shopping.
Answer: Can you get one with a high interest rate & no annual fee? As long as you pay it off every month the interst rate won’t make any difference at all. I’ve seen cards that offer no annual fee but have like a 24% interest rate on them for people with no/bad credit. I’m sure you could get one of those.
I’ve also seen some where they require you to open a savings account & your credit limit is the same amount that’s in that account. They have no annual fee but a rather high interest rate.
We had pre-paid credit cards here (in Atlanta) during the olympics. Visa did them. They were called Smart Cards & you could buy them in $10, $15, $20, $50, $100, etc… and they worked just like a credit card. It was considered a good alternitive to buying travlers checks. They were pretty neat, maybe if people wrote to them wanting them to do that again (on a permanent basis) they’d consider it?
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