Reloadable credit cards are Visa or MasterCard branded cards that are pre-loaded with your own money instead of being funded with a line of credit from a financial institution.
Your money can be deposited – or stored – on the card a number of ways – at retail locations and online are two of the most popular methods of loading cash onto these cards.
Using reloadable cards provide the convenience of using a credit card without much of the negative – particularly that of building an unbearable amount of debt that compounds with interest charges and fees.
