Private Credit Card

Instant Access to Your Private Funds

An private credit card is a credit card linked to an private bank account. Private credit cards typically come in the widely recognized brands, such as VISA. The cards also come in the well recognized platinum card format. While they function essentially the same as a traditional credit card from a merchant's point of view, the holder of the card typically has the card linked to an private bank account held in an private bank, often in an private financial center.

What is the advantage of an private credit card?

The primary advantage to the holder of an private credit card is that it provides convenient, direct access to his private bank account. In the past, the time and expense involved in completing private bank wires, and private bank transfers meant retrieving smaller sums of money from a depositors private bank account was difficult. If the private bank account holder wanted to withdraw funds, he would either pay a disproportionately large percentage of his withdrawal in fees, or be forced to move a larger sum to his or her domestic bank account.

How do private credit cards work?

Private credit cards work almost identical to domestic credit cards. The cards typically have a Visa or Bank Card label, are accepted at more than 14 million locations worldwide and provide cash advances like domestic atm cards at several hundred thousand automatic teller machines and banking institutions around the world.

Despite their similarities, some differences exists between domestic and private credit cards. The vast majority of reputable private credit cards are "secured" cards. They require private investors to provide a security deposit with their application for the card and therefore do not require private investors to go through credit checks. The amount of the security deposit varies between institutions, but normally ranges from 125% to 150% of the credit line requested (e.g. at 150%, a credit line of $20,000 requires a security deposit of $30,000), although some issuing institutions require security deposits as high as 200% of the credit line requested.

The Prepaid Private Credit Card

The solution that we find superior, especially for those who need higher limits for their private credit card is the pre-paid credit card. Similar to a debit card, in some respects, and similar to a credit card in others. The prepaid credit card in some ways captures the best of both worlds.

There are two big advantages to this type of card.

First, it gives you access to more of your money. Many secured credit cards necessitate leaving upwards of 200% of your credit line on deposit, while our prepaid credit card offerings do not require this.
Secondly, it offers more safety. The pre-paid credit card only allows access to the money that has been physically loaded onto the card. This significantly limits any chance of loss due to theft or loss of the card. You get immediate access to the private funds that you want access to. Meanwhile, the rest of your money remains in your private savings account earning interest.

Click here if you'd like to open an private banking account with your very own high-limit private credit card.

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