Credit Card Prepaid
Have you ever been rejected when filling out a credit card application all because you have a poor credit record? This can be a problem for you especially when you need a major credit card for certain things like hotels, car rentals and even flights. You also will need a credit card for those times when you are purchasing things over the Internet or over the phone. This is where the prepaid credit card can play a good role for you.
Basically, a credit card prepaid system works with you opening an account and depositing your money into that account. This is very similar to opening a savings or checking account. The difference is that you are issued a credit card that can be used much in the same way a major credit card is used. Of course, there is a limit and that is you can spend up to the amount that you deposited in that account. Now, this can actually be a good thing because you will never be in debt since you can’t spend more than what is in your account.
And like any other banking scheme, there is catch. You will need to pay a certain fee to set up the account that you will use with prepaid cards. The amounts can vary in between 5 and 10 dollars just to open the account and there will be fees as you deposit cash into the prepaid account. But that is a small price to pay to get yourself a card that’s as good as a major credit card.
Watch the video related to prepaid credit card
CreditCard.FinancialBubblewrap.com This first video in FinancialBubblewrap.com’s Credit Card FAQ Video Series answers the question, “How can I get a credit card despite my poor credit history?”
Help answer the question about prepaid credit card
Is there a prepaid credit card that acts as a normal credit card and not have limitations?I am trying to start shopping for Christmas online and I don't have a credit card and a couple of the sites won't let me use prepaid credit cards I was wondering if there was a prepaid credit card that acted like a real credit card and won't be denied by any sites that restrict prepaid cards?
May 14th, 2010 at 1:49 am
Yes there is a way for you get a prepaid credit card with your name on it. Its take 7-10 days and its is a credit card.
It cost like 10.00 please see walmart dealer or https://www.walmartmoneycard.com/walmart/homepage.aspx
I hope it works.
If you have a bank card visa that will work also.
May 14th, 2010 at 1:51 am
A debit card should work–I've been using my MasterCard branded debit card online for years. However, there are occasionally sites that say they don't take debit cards.
In that case, you could try getting a secured credit card. You make a deposit to the bank which becomes the limit of the card (you can't touch that money, so make sure you can afford it). So if you put $500 on a secured card, you would have a credit card with a $500 limit. After a year or less, the secured card will become unsecured and you get your deposit back and it becomes a regular credit card. It reports as a regular card to the credit bureaus too, so no one would know it's a secured card but you. Bank of America has one that is supposed to be very good.
You could also try shopping through sites that use Paypal–you can have Paypal draw directly from your checking account.
May 14th, 2010 at 10:53 am
You could set up a paypal account and link it to your checking account. Or do the pre paid thing–that works to!
May 14th, 2010 at 11:26 pm
sign up for a paypal account and use the card on that, paypal doesnt care if its prepaid, and choose paypal at ebay checkout
May 15th, 2010 at 12:26 am
I don't think so..
May 15th, 2010 at 3:37 pm
Yes you can
May 16th, 2010 at 9:05 am
Yes, a pre-paid card is accepted anywhere a regular credit/debit card is accepted.
So you can use it just about anywhere as long as you don't attempt to spend more than the available funds on the card because it will be declined.
May 16th, 2010 at 7:22 pm
You can get a pre-paid card first to help rebuild your credit. Once the financial institution you're working with decides you are credit worthy again, they can issue a traditional card to you.
Hope this helps. Good luck!
May 17th, 2010 at 8:59 am
If you want a reloadable prepay card you will need to get a Green Dot Card.
Most of the others are prepaid Visa cards with a set limit and they can't be reloaded. You buy a $100 Visa Gift Card and use it up but can't reload it because it is not a real account. (Does not have your name on it).