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Prepaid Credit Card Offers

Prepaid Debit / Credit Cards work like gift cards at retail stores. You can deposit any amount you want and then use the card to make purchases up to that amount. These types of cards generally don't require a credit check, and some actually have credit re-builder and rewards programs.

Prepaid Credit And Prepaid Debit Cards

Often referred to as stored value cards a prepaid credit or prepaid debit card require payment in advance to the credit card company. The obvious difference is the fact that you pay in advance versus receiving a bill for purchases you have made. Once the prepaid amount is exhausted the card no longer has value until the card holder "reloads" the card by making another payment.

Prepaid cards are similar to gift cards that you can buy and use at retail stores however there are fees associated with this type of card. Since you pay in advance there are no credit checks or employment requirements when applying for prepaid cards. For these reasons, prepaid credit or debit cards are generally used by individuals who are trying to establish credit history or re-build their credit.

There are many occasions in life where using a credit card is either more convenient or required for certain purchases. If you have every tried to make hotel reservations, book an flight on an airline or rent a car you understand that cash is not always a feasible option. This can prove to be a significant hardship for people who have no credit or poor credit. By using a prepaid card you have most of the benefits of credit cards without the danger of going in debt. Since you can only "charge" the amount that you have prepaid on the card you are never in danger of late fees or over the limit penalties.

There are drawbacks of using a prepaid card such as the various fees that may be associated with setting up and maintaining your account. In addition to account fees you should also be prepared for the fact that not all vendors will accept a prepaid credit or debit card.

Similar to unsecured credit cards it is important to read the terms and conditions associated with your card before applying to ensure you find the right card for your situation.