How can a prepaid card help me build credit?
Answered on Wednesday, August 4th, 2010 by
James Williams

Prepaid debit cards today have more built-in features than ever before! And while credit cards are still better for those who want to build credit, nevertheless there’s something you can do even with a prepaid card. If you choose a card that provides a short-term loan option (view Best Prepaid Cards for the complete list of offers). You can apply for it in case you are short of cash before your next paycheck and as you pay this loan back, your payment is reported to credit bureaus. If you sign up for a bill pay, and pay your utilities, rent, cable, phone, insurance and other bills, your payments will be reported to PRBC, a national credit reporting agency so that you can build your payment history and show your creditworthiness when you apply for employment, insurance, etc.

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There are prepaid cards you can apply and which will have your name imprinted on. However, no one of the card issuers will be able to review your application, approve you, and send you a card overnight. The issuing process takes at least two weeks and if it is a credit card it can take […]

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Almost all prepaid cards allow ATM withdrawals abroad, the only difference is fees. For example, consider the American Express® Prepaid Card. The card offers one free ATM withdrawal per month, and you will be charged $2.00 per ATM withdrawal thereafter. Also this card does not have monthly or annual fee. You can compare this card […]

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