Search
Recommended Sites
Related Links
FREE EMAIL
Email Login
Password

Looking for a
FREE EMAIL


 





   

Informative Articles

Accept Credit Card Merchant Account
If you're looking to expand your business, you can soon accept credit card merchant account payments by applying for a merchant services account. Many lenders and financial institutions are eager to provide this account to responsible entrepreneurs...
Credit Card Vs. Debit Card - What Are The Main Differences?
With our electronical cards fortunately the days of the mad rush and long queues to get cash from the bank before weekends are long gone. We now enjoy the convenience of using a nearby automatic teller machine (ATM) or you can even get "cash back"...
Exclusive Credit Repair Leads
If you own or work for a credit repair business, or you are considering starting a credit repair business, you may have at one time or another considered purchasing exclusive credit repair leads. For starters, the purchase of credit repair...
Is A Home Equity Credit Line Right for You?
Home Equity Using credit lines against the equity of your home are one source of consumer credit that is fast gaining popularity. Home equity is a valuable asset which both lenders and borrowers can benefit from and as such, lenders...
Selecting The Right Credit Card
Not all credit cards are created equal. There are many various types of credit cards, and if you are looking to apply for a credit card, it may be difficult to decide which type of card is best for you. In this article, we will look at...
 
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 www.iCreditOnline.com. 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: www.iCreditOnline.com.