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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 →

In the past years, prepaid credit or debit cards are not as popular as regular credit cards. Yet today, an increasing number of consumers are paying attention to prepaid credit cards. For instance, many people who cannot get approved for a standard credit card because of poor credit score or the lack of credit history may opt to get a prepaid card instead.

When it comes to payment, prepaid cards offer the same convenience as regular credit cards do. Prepaid debit cards are widely accepted by many merchants and establishments particular those that bear the Visa and MasterCard logos. Prepaid cards can be used to purchase online and from brick-and-mortar shops. Continue reading →

In the past, prepaid credit cards or prepaid debit cards cannot be used as tools for rebuilding credit history. This is because issuers of prepaid cards do not report account activities to the credit bureaus. In order to build credit history and credit score, account activities must be reported to the three major credit reporting agencies – Equifax, Experian, TransUnion.

A popular tool which can be used to build credit history is a credit card. Credit card companies provide their cardholders with a credit line. By using a credit card and paying charges regularly, a person can build a solid credit standing more easily. Aside from acquiring revolving credit, people can also apply for loans such as car loan and mortgage, or an equity line of credit, to build credit history.

What about using a prepaid credit card? While a prepaid credit card can be used to pay bills and make purchases just like a regular credit card, a prepaid cardholder is not provided with a credit line. However, there are issuers of prepaid debit cards today that report to the major credit bureaus. These particular prepaid cards can be used to establish credit history or rebuild bad credit. Continue reading →