Compare and Review the Best Prepaid Credit and Debit Cards

Compare the newest pre-paid card programs offered by lenders, retail merchants, online banks and popular finance programs – updated daily to find you the BEST cards

Prepaid Debit and Credit Cards How They Work and FAQ
Prepaid debit and credit cards are those that serve as a great alternative to a regular credit card. Both have some great features that stop people from overspending and while doing so, some of them can improve your credit report.

A prepaid debit card is one that you can use after you have loaded money onto the card and accessing the card will allow you to get the money out. What you put into the card is what you can get out. This is great for the person who has debt problems or has not been able to open a bank account. The unique thing about a debit card is that you don’t have to pay overdraft fees or fees to use it as it’s not connected directly to a bank account. The problem with a prepaid debit card is that it won’t do anything to build up your credit rating.

A prepaid credit card is also called a secured card. The reason it is secure is that you can only have access to the money that you have already deposited into that account. It is very different from the debit card because the prepaid credit card can be used for other things such as making a monthly payment on a bill. This is a card that helps in building your credit which can be advantageous to someone who needs this. Many people who have no credit at all or have been through a recent bankruptcy can use this type of card to help rebuild their credit in a secure and safe manner.

You should always read the terms and conditions on these cards as some may come with some high fees.

Where can you use your prepaid debit and credit cards? You can use your cards at most all places that accept Visa or Mastercard as well as ATM machines. Your purchases made will be deducted right from the balance that was on the prepaid card.

How are these cards different from a regular debit or credit card? A prepaid debit card looks the same as a regular credit card and it allows you to use it with a signature. Your card will access the pre-loaded money on it and you don’t have a line of credit on the card. This means that what you are spending is limited to only what you have loaded on the card and nothing more. Your limits on spending are already pre-determined when you load it.
There is no security deposit required to have one of these types of prepaid cards.

Updated January 3, 2014 – Your Source for the Best Pre Paid Credit Cards

* See the online credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the 'Apply Now' button, you can review the credit card terms and conditions on the issuers website.
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