How To Choose A Pre-Paid Credit Card
August 18, 2008 – 4:31 pm
In my opinion the pre-paid credit card is the best kind of credit card to have. Like many Americans today I can’t get approved for a credit card and since credit cards are needed for most anything like shopping online or renting a car this is the perfect solution, or is it?
A credit card is a lot like a checkbook. You can write checks as long as you have money in the bank. Then banks came out with a debit card giving them greater freedom while still using their checking or savings account. Now you can shop online or do whatever you need to using what looks like a credit card.
Then came the pre-paid credit card. This is much the same as a debit card but you don’t have to have the checking account. All you have to do is apply for the pre-paid credit card with almost a 100 percent approval guarantee. Once you have the card then you can go to the places they tell you and load money on your card. Then you have the freedom to spend at least until you use all the money on the card then you have to load it again.
With most of these pre-paid credit cards they charge an activation fee at first which is usually $5 or $10 then they charge a fee every time you load the card after that. But for people that have bad credit and can not get a real credit card it is well worth the fees so that you can have the spending power you need.
Although a pre-paid credit card is by far easier to get approved for than a credit card they are still all different and each one offers different incentives like some do not charge a loading fee. Some allow you to load your card using western union or have your employer load your paycheck on your card. It is best for you to go to a website where you can look at all the different cards and compare them. I am sure you will find the one you want and then you can apply for it right there online.
In many ways a pre-paid credit card is better to have than a credit card. One you don’t have to worry about APR, finance charges, late fees, and even a bill. If you don’t have the money already on the card you will not be able to use it. So if you have bad credit or no credit and you are unable to do the things you want because you don’t have a credit card you don’t have to look any further than a pre-paid credit card.
Don’t let bad credit or no credit stop you from shopping online or renting a car. You can be like everyone else and get a pre-paid credit card they are honored everywhere just like a credit card and these don’t let you spend more money than what you have and you don’t have to worry about paying it back. Overall I will highly recommend a pre-paid credit card over a credit card any day and that is what I will tell my children when they get interested in a credit card.
Compare credit cards at http://www.credit-card-accepted.com