Apply For Prepaid Credit Cards
Compare and apply for prepaid credit cards online. Prepaid cards are rapidly gaining in popularity for several reasons. One is as a way to manage a budget, popular with teenagers and college students but also for anyone else looking to ensure spending does not exceed income. Prepaid cards are also a great option for people that can not obtain an unsecured or secured credit card due to bankruptcy or other factors negatively impacting a credit score. Many prepaid cards are guaranteed approval meaning that you can obtain them with a valid ID, a credit check is not required. Some require a bank account, but most do not even require that. Just like credit cards, prepaid cards can be applied for online and an answer can be received in minutes.
Prepaid Credit Cards
Apply For A Prepaid Card
There are a few things you should consider before you apply for a prepaid card. First is that prepaid cards are not credit cards. The key differences being that with prepaid cards there is no unsecured credit offered. Meaning you can only spend the amount of you have prepaid on the card. The second difference is that prepaid cards are debit cards therefore there are accepted within the issuers debit network. Normally this is not a problem.
Where the prepaid card is accepted and how you charge the card are two important points to consider. Look for cards offered through the MasterCard or Visa networks. You will see the symbols on the front of the cards. These cards will be accepted within their networks providing the largest number of outlets accepting the cards. Also consider how you will charge the card. Direct deposit is often the easiest, but if that is not something you want to do, consider how many locations are available for charging the card. Most cards will tell you this in benefits section.
Last, consider annual fees. Typical annual fees for prepaid cards range from around $45 to $130 so there is a large difference from one card to the other. Some cards offer benefits that may make the higher fees worth it for you. Consider what each card offers and see how they relate to your situation.
There is no reason why you can not apply for multiple prepaid cards. This is often done if you want to manage spending a little tighter, for example one card for going out and another for monthly bills. Ensuring you do not go out on the town and spend your rent money. Another reason is to have a card for each network some people will apply for a Visa prepaid card and a MasterCard prepaid card.