Credit Card Professor

Prepaid Debit and Credit Cards are pre-funded reloadable cards. They require a payment in advance to the credit card company they’re from. After they are activated they can be used until the payment is gone, acting as a gift card. These Prepaid Debit and Credit Cards can be used anywhere credit cards are accepted.

Prepaid Debit and Credit Cards typically don’t require a credit check, so anyone can use them. Some even have credit re-builder and rewards programs.  Some credit cards are even reloadable, so purchases can continue. The benefit of these cards is that they won’t allow you to go into debt. You know what the limit is, and since it’s already paid off, you won’t owe anything.

There are some fees that are associated with Prepaid Debit and Credit Cards, however they are minimal compared to late fees and debt incurred through traditional credit cards. Prepaid Debit and Credit Cards help you control your spending. If you tend to overspend, this is the credit card for you.

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