Learn About Prepaid Credit Card

Prepaid credit cards also called stored value card can be ideal for individuals who are unemployed, have bad credit or difficulty obtaining an unsecured credit card. Prepaid credit cards are also excellent for individuals who have a hard time controlling their spending and prevent the individual from overspending and getting into credit card debt. If your objective is to establish or rebuild you credit over a period of time, make sure the prepaid card issuer reports cardholder transactions to the credit bureaus namely Experian, Equifax, and Trans Union.

It is very easy to obtain a prepaid credit card because there is no credit check or employment verification since the funds you will be using are yours and not that of the prepaid credit card issuer. Prepaid credit card spending limit or credit line is the amount of money you loaded to your prepaid credit card account. Prepaid credit card carries the Visa or MasterCard logo. It can be used anywhere MasterCard and visa is accepted except renting a car at certain car rental companies and setting up automatic recurring payments.

The difference between a prepaid credit card and a debit card is that the spending transactions are deducted from the amount of money you loaded to your account unlike a debit card where the money spent is subtracted from your checking account and could cause Non-Sufficient Funds (NSF) charges. The NSF charges are due to a customer drawing funds from an ATM or making purchases that exceeds the balance in their checking account. With a prepaid card this will never happen since the prepaid card holder is not borrowing any money and can only spend the amount of money loaded to their prepaid account.

With prepaid credit card there are no interest charges because you are using your own money. To obtain a prepaid credit card requires paying a setup or application fee and may charge a fee each time you load more money to your account. Some of the ways prepaid credit card can be funded is with a wire transfer and a cash deposit at certain locations approved by the issuer.

About The Author:

David Hall owner of the popular site http://www.iCreditOnline.com He has tools for finding a wide range of financial services including secured and unsecured cards, student and business cards, auto loans, and more from the most reputable companies in the industry. You can also compare multiple credit card offers, securely complete an online credit card application, and receive a credit decision in at least 60 seconds.

Visit David's site today: http://www.iCreditOnline.com

You have permission to republish this article on your website on condition that you include the byline and hyperlinks intact.

NEWS.com.au
Beware of credit card sharks
NEWS.com.au, Australia - 9 hours ago
By Alex Tilbury September 08, 2008 08:05am THE average Australian already has an eye-watering credit card balance of $3100. Now lenders are attempting to ...
Interest rates up - on banks' credit cards The Age
Wizard's magic trick with credit cards Melbourne Herald Sun
Banks refuse credit card rate cuts Sky News Australia
The Sheet - Melbourne Herald Sunall 221 news articles

Washington Post
Credit Crunch 'Baby Step'
Sky News, UK - 24 minutes ago
The collapse in US house prices, which triggered the credit crunch and in turn forced Northern Rock in state ownership, threatened to bring tens of ...
Video: Obama Calls for Changes in Mortgage Giants AssociatedPress
Why banks are damned to a flood of credit crises Trading Markets (press release)
US banks face losses after giant mortgage bail-out Independent
The Associated Press - Reutersall 5,536 news articles

Credit Suisse Ex-Broker Pleads Not Guilty
Wall Street Journal - 3 hours ago
By CHAD BRAY NEW YORK -- A former Credit Suisse Group broker pleaded not guilty to charges he and another broker misled investors about purchases of ...
Adviser Alert Wall Street Journal
all 2 news articles

Ill. credit unions help with college aid
Chicago Tribune, United States - 14 hours ago
AP CHICAGO - Authorities say eight Illinois credit unions are stepping up to plug college funding gaps wrought by the credit crunch for student tuition aid. ...
Ill. Credit Unions Help With College Aid CBS2 Chicago
State Secures More For Student Loans WEEK-TV
$100 million offered in aid for college students, state says Chicago Tribune
all 15 news articles

Credit freeze helps thwart ID thieves
Arizona Republic, AZ - 3 hours ago
OK, so you'll never see Credit Freeze in a comic book battle of good against evil wearing a cape and long underwear. But like other superheroes, ...
ID protection can be do-it-yourself Boston Globe
all 3 news articles

China Daily
New CEOs Are Untainted by Credit Woes
Wall Street Journal - 3 hours ago
Herbert M. Allison Jr. and David Moffett were on a short list of financial-services executives untarnished by the credit-market troubles. ...
Video: Feds Take Over Mortgage Giants AssociatedPress
Paulson Taps Allison and Moffett to Run Fannie Mae, Freddie Mac Bloomberg
all 556 news articles

US financial crisis spreads toward your wallet
Christian Science Monitor, MA - 17 hours ago
It warned of the danger to the nation from the sale of trillions of dollars of complex financial products called "structured credit derivatives. ...
Credit Crunch: The Sequel U.S. News & World Report
UPDATE 1-US banks' direct borrowing hits record in week Reuters
Crumbling financials have further to fall Financial Post
FXstreet.com The Foreign Exchange Market - Milwaukee Journal Sentinelall 82 news articles

Texas credit unions should disclose more information, panel says
Fort Worth Star Telegram, TX - 2 hours ago
By YAMIL BERARD The public could get detailed information about the financial health of credit unions if the Legislature adopts recommendations by the Texas ...

It's a hard time to get new credit
San Francisco Chronicle,  USA - 17 minutes ago
(09-07) 17:48 PDT -- Credit - the grease that lubricates the economy - is in short supply now and apparently getting even shorter. ...

MSN Money UK
Credit crunch could be bad for your health
WalesOnline, United Kingdom - 2 hours ago
THE credit crunch could have a detrimental impact on people’s health as well as their bank balance. New research suggests people are buying cheaper foods to ...
Credit crunch `fuelling ill health` The Press Association
Credit crunch takes a bite out of people's health, says report Telegraph.co.uk
all 6 news articles

Wind Chimes and more...

Windchimes for great gifts!

The Truth About Credit