Best Prepaid Cards

Prepaid Cards

Prepaid cards are an easy, convenient and secure alternative to carrying cash. It is a card you can load money on and use anywhere - in stores, online or over the phone. You can withdraw cash, book flights, make hotel reservations, shop and pay your bills online, and without the danger of getting into debt. Prepaid credit cards are also not linked to your bank account. With pre-funded cards you can only spend money you load on it. Once the card value has been depleted, you can't make any purchases until you add more funds. You can have your paycheck or child support, unemployment, and other benefits automatically deposited to your card or use any of the other ways to load money on it.

Prepaid Cards Advantages

Almost anyone can get a prepaid debit card. It does not require credit checks or bank accounts for approval, which makes these cards a good option for those who cannot qualify for a regular credit card. Reloadable cards offer the convenience of paying without cash and at the same there are no interest charges (though you should be aware of the fees), and no risk of taking on debt, yet prepaid cards do not help improve your credit rating. Pre-funded cards are a good alternative for young people, parents can rest assured knowing their children will not go over the limit. You can also issue an additional card, and easily transfer money to your family members in another location or country. Just deposit funds and get instant access to it.

Choosing a Prepaid Card

You can choose a prepaid debit card with Visa or MasterCard logo on it. Both provide easy and secure ways to pay, are acceptable worldwide, help to accurately track spending and offer convenient methods to make deposits on your card.

While choosing a reloadable prepaid card that will work best for you, you should consider some aspects. Find out how you can add funds to your card and what the related fees are. Make sure you understand where and how you can use the card. Get information about how you can check the balance - is there a monthly statement, can you request the balance over the phone or online and what are associated fees for these services. Make sure you understand how much it costs to activate the card, to add funds, how much is the monthly maintenance. If you travel internationally compare fees for international withdrawals and purchases. Pay attention to liability protection offered by the card.

My total debt is about 5,000.00, that includes credit cards and car loan. Is there a way I can consolidate my debt so I have a payment for everything and pay this stuff off faster. Nothing is behind on payments and but my score is a 540. What options do I have?

Your credit score means that you have bad credit history that needs improvement. Unfortunately, there are no credit card offers for bad credit that allow you to consolidate your debts. You’ll first need to improve your credit history in order to qualify for balance transfer credit cards with higher spending limits. If you have some credit cards and they report to all the major credit bureaus, that's great. You may improve your credit score faster by making your credit payments on time and staying within your credit limit.

Are there any credit cards I can apply for without affecting my credit score?

To avoid affecting your credit score, you need to apply for the card you are eligible for. By applying for the card that doesn’t correspond to your FICO score, you can get a denial that generally affects a credit rating. Therefore, it is always recommended to turn to the major credit bureaus (Experian, TransUnion, and Equifax) before applying for a card and check your score to avoid a rejection.

As you didn’t mention what type of credit history you have, we may only suppose that your credit score is less than perfect. If you have a fair credit, you can apply for the American DreamCardTM MasterCard® Sweepstakes card from HSBC Bank Nevada. It comes with rather attractive features and may help you improve your credit history. Moreover, by spending with the card, you can earn lottery tickets and become a lottery winner.

If your credit history is less than average, then pay your attention to secured credit cards. They don’t require income information and a credit records check therefore they usually offer a guaranteed approval. You’ll only need to make a cash deposit (at least $300) that will serve as collateral, have a SSN and be a resident of the US. A secured credit card can be a convenient payment tool that may help you establish credit or restore your bad credit history. We offer you to consider the Secured Visa® Credit Card from Applied Bank or the Secured Black Card from Public Savings Bank that come with attractive features and options and report to major credit bureaus every month.

So, check your credit score and apply for the right card!