Prepaid Credit Cards

Advertising Disclosure

Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Prepaid Credit Cards


Updated: April 26, 2017

Add to Favorites:
Prepaid Credit Cards
February
13

In the recent past prepaid credit cards were the last resort for people looking for a regular bank card but being unable to get it due to low or no score. In the stressed economy, though, more consumers find it harder to qualify for a major credit card and prepaid plastic is becoming a more popular option. It does not only give you access to funds and convenience of payments but it also contributes to a better credit score in the long run.

Of course, there are some negatives to using prepaid credit but most of them boil down to fewer benefits and absence of rewards. Even so, you have all chances to find an exception to this rule if you shop around and compare all what's currently available.

Good news is because the consumer's interest in prepaid credit cards is rising, the number of offers is also increasing. Numerous websites have included prepaid plastics into their array of regular unsecured and secured offers and you can apply online for a most suitable deal.

The advantages of prepaid cards cannot be underestimated, especially in the present economical environment. Add to it the still persisting mentality of debt and you get a scenario in which a credit user digs a deep hole of unmanageable bills and delinquent accounts.

What most of us need now is a relatively low cost and protection against bad debt. A prepaid card does not issue you credit as such. It is more like a debit card requiring you to load money before you can use it. You do not accumulate any interest or pay monthly bills - the basic requirement is that you reload your account with funds when they run out. Each time you reload tit up to the required amount, it is reported to the credit bureaus, increasing your score. There's nothing simpler. This is a really safe way of making payments and building credit history.

Prepaid credit cards are typically not linked to a customer's bank account. It provides certain simplicity when you make online application because there's no need for paperwork. Besides if you apply for a prepaid card with the major logo - Visa, MasterCard and American Express - your plastic can be used anywhere around the world where these payment systems work.

There is no credit check or employment requirements as you apply for prepaid card. That automatically enables you to qualify and start using the account. A prepaid plastic may seem to be a perfect credit tool but for the fact that it does not provide you with revolving credit. In fact there is no credit at all and it makes one doubt about the reasonability of making the application. There is a reason in it - it protects you from making any debt which is a burning issue and evil of the modern society.

Some of the top prepaid credit cards online offer rewards for spending and making regular payments. Check all of the deals available and you're sure to find the most optimal variant for a payment tool and credit building.

All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products’ Terms & Conditions on the issuing banks' websites.
Add to Favorites:
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.

Related Research:

How to Subdue Wedding Expenses and Earn up to $1,000 for Honeymoon

How to Subdue Wedding Expenses and Earn up to $1,000 for Honeymoon

Posted: June 21, 2017

Whether you are married or not, we all agree that marriage is incredibly important for a person. It signifies the beginning of two people as a team, as a family, of a long commitment. It is a newly born union and the sign of your choice, ... Continue reading
How to Save Money. Best Credit Card Deals and Tips.

How to Save Money. Best Credit Card Deals and Tips.

Posted: June 20, 2017

We all've been through or may find ourselves in such an emergency when money is needed immediately. Lucky you are if you have savings for unexpected expenses. If not, it's never too late to start saving money. There are different ways to ... Continue reading
How the Fed Rate Rise Impacts Credit Cards

How the Fed Rate Rise Impacts Credit Cards

Posted: June 20, 2017

Recently, the Federal Reserve hiked its benchmark rate by a quarter percentage point, as a result, you could see a rise of the interest rates on your credit cards by 0.25%. That was the first hike of the key rate in 2017 and the Fed ... Continue reading