Some people are hesitant to use prepaid credit cards, afraid that the costs of these cards will only lead them futher into debt. However, prepaid debit cards can actually be great alternatives to regular credit cards. In fact, prepaid debit cards are credit cards which can be used for establishing credit history and for repairing bad credit. Continue reading
Are you planning to get a prepaid credit card? If yes, considering the following questions should help you find the right prepaid card more easily and avoid making a poor choice:
Will your payments be reported to the major credit bureaus?
Take advantage of the fact that some prepaid credit cards today can be used as tools for building credit and rebuilding bad credit. However, not all issuers of prepaid cards offer credit reporting service. If you cannot qualify for a regular credit card because of bad credit or lack of credit history, make sure that your chosen prepaid debit card reports to a major credit bureau. Continue reading
Many credit card issuers today came up with different versions of prepaid credit cards or prepaid debit cards for consumers. Some prepaid cards are even endorsed by popular celebrities. If you’re planning to get your own prepaid card, being confronted with so many choices can prove to be a tough challenge. So which one should you pick? Consider these tips:
Know your purpose. Why do you want to get a prepaid debit card? What kinds of purchases do you plan to use it for? Are you planning to use the card on your trip? Different prepaid credit cards offer varying features and services so it’s important to know your personal needs first before starting your search for a prepaid card. Continue reading
Anyone can easily get a prepaid credit card at any time and this convenience is one of the reasons why prepaid cards are so popular these days. Are you thinking about acquiring a prepaid credit or debit card too? If so, consider these tips:
Consider a regular credit card. If you can qualify for a standard credit card, consider this option instead of going prepaid. Why so? By choosing a credit card that complements your lifestyle and managing the account responsibly, regular credit cards have a lot of advantages that you can enjoy. Continue reading
Prepaid credit cards or prepaid debit cards are growing in popularity in the market. Many people who cannot qualify for a regular credit card because of bad credit or lack of credit history can easily go prepaid. Many merchants who accept credit card payment also recognize prepaid credit cards. Like any regular credit card, prepaid cards can be used to pay bills or make purchases online and at brick-and-mortar stores.
What makes prepaid credit cards different? The biggest difference is that prepaid cardholders do not enjoy a credit line. As a prepaid cardholder, you cannot make advanced purchases and pay at a later time. Bills that are charged to a prepaid card are instantly paid out using the available fund in the debit account. What happens when the balance runs out? Continue reading