Our modern life involves the frequent use of credit and debit cards. However, you must not see them as necessities. You should rather think of them as financial tools and if you know where to look, you will find them alternatives. These will prove vital if you earn a low income or have a bad credit score. If you can not get a chequing account or a simple credit card, consider using these other options.
Even if you can get a chequing account and a credit card, these alternatives may help you control your expenses.
If you often buy in the same store or in the same chain of stores, consider asking for their card. You will get it a little easier than regular credit cards. It will offer special benefits, such as a discount each time you use it in the store. You will also qualify for exclusive sales to cardholders. Some of them only may allow you to keep a balance from month to month. In this case, you will have to pay interest that will have a negative impact on your personal finances.
Therefore, if you get and use a credit card, you will still have to pay the balance before the due date to avoid any interest.
Instead of asking for a store card, opt for a gift card as an alternative. This kind of card simply becomes interesting because the sender allows you to use it over the Internet. People have credit and debit cards mainly to buy online. As for the gift card, it allows you to make the same purchases without credit or debit. You simply buy the card in cash and then use it online. This way, you will not run the risk of getting into debt since you will only be able to spend the value of your gift card.
The issuer of these cards rarely charges a fee, which is an advantage you should consider!
Prepaid debit cards
Prepaid debit cards have one important advantage: you can use them anywhere, unlike the gift card that only works for the place it comes from. However, if you use the prepaid debit card, you will generally pay monthly fees or money transfer fees.
Some cards offer ways to avoid paying fees, but it can be complicated. To escape, you must choose another solution.
Personal loans online
Credit cards help you with emergencies or when you need a few hundred dollars to complete the month. Convenient, this loan is a major advantage that you can also get with a personal loan online. These loans, usually fast enough to get, allow you to receive the money in less than a day.
Even if you do not need money at the moment, familiarize yourself with online lenders so you can borrow quickly when you need money.