Miles Reward Travel Card by Discover

Miles by Discover® Card

With all the possible hard times we are going to be going through one thing we are going to need is a way to release of frustrations and get away and relax a bit. There are many hot vacation spots around the world and if your looking to get some help to [...]

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Prepaid Credit Card

What is a Prepaid Credit Card?

A Prepaid Credit Card is exactly what it sounds like it is. It’s a credit card that is secured by your own money instead of the credit card company’s money.

How can you get a Credit Card like this?

In order to get this type of credit card what a person must do is first apply for a card. We will list a few places on the right hand side of this site for you to check out and pick between a Prepaid Master Card or a Visa. There is no credit check done so everyone will be approved, but before you get the credit card you will first have to decide on the credit limit and secure your card with your own money. In short if you want a credit card with a limit of $500.00 you will have to send the credit card companies a check for that amount first before you get the card.

*Please Note*

Some cards start you off at a lower amount and allow you to increase your limit as time goes on.

Why would anyone want a Prepaid Credit Card?

That’s a good question which we have a good answer for. If you are the type of person who has had bad luck with your credit rating in the past and can not get a normal type of credit card then this is a great way, well one of the only ways that I know of that a person can start to rebuild there credit rating. All transactions with the Prepaid Credit Cards are reported to credit bureaus monthly so as time goes by and you make your regular monthly payments you’re starting to rebuild your credit rating.

Is there a monthly payment with a Prepaid Credit Card?

Yes there is, treat this type of card no differently then any other type of card. It is the monthly payments you make that increase your credit rating.

Are there interest rates with Prepaid Credit Cards?

I hate to be the bringer of bad news but there is. Depending on whom you chose to be your Prepaid Credit Card supplier the interest rate is no different then regular credit cards.

Where are Prepaid Credit Cards Accepted?

Anywhere those regular credit cards are accepted. There really is no difference other then the fact your limit will not be as high as normally cards and the maximum limit is secured by you.