bly see them all the time at gas stations or advertised as a solution for people with bad credit. Prepaid credit cards act just like a regular credit card, except unlike a normal credit card there is no line of credit behind the plastic.

They are also known as Pay as you go cards. With a prepaid credit card you have a fixed amount of money you can use. Since there is no line of credit, you don’t have to worry about paying back any debt.

Credit cards are practically a necessity of life these days. When was the last time that you wrote a check. I’d wager that most of us just write one or two checks a year these days and the rest is done by card. It’s almost impossible to rent a car, reserve a hotel room, or make a large purchase without a credit card. Many businesses now require customers to have a credit card on file even if paying with cash or check. What can you do if you have bad credit or no credit?

As we said earlier prepaid credit cards are also known as “pay as you go” cards. They work in a similar way to traditional credit cards. The difference is that prepaid credit cards don’t involve borrowing money from the issuer. You preload the card with money and then use it wherever Visa or Mastercard are accepted. Late fees and interest charges are not applicable. Simply refill the card when the balance is low or depleted.

A prepaid card is much like the gift cards available from most high street chains in the UK, however, prepaid cards have a much wider acceptance, and can be used internationally. They are the same as credit cards, but without the credit. The majority of UK prepaid card providers offer cards embossed with your own name, and some are even CHIP & PIN cards.

A prepaid card is not a credit facility, so you do not need to pass a credit check. Even if you have bad credit or CCJs you are guaranteed to be approved for a prepaid card. However, you are still required to provide details verifying your identity and address (for example a passport, driving licence or national identity card plus a utility bill or an official letter with your permanent or temporary address). Some of the prepaid card issuers will even verify your details online, and give you an instant approval. By the way this is correctly called an electronic identity check, not a credit check!

A prepaid credit card such as a Visa or prepaid Master card can be used like any other credit card to make purchases. With a prepaid card, however, you load funds onto your card and use that money to make purchases and get cash — you are not borrowing money from a bank or other financial institution. The prepaid credit cards look, feel and work like a credit card but are pre-funded “stored-value” cards. This allows you to set spending limits for you or your kids.

So there you have your answer. It is a pre-paid, reloadable card can be used anywhere Visa or MasterCard is accepted — at stores, gas stations, restaurants, theaters, in the mall and online. Making a hotel and rental car reservation is a snap. You can also access cash at ATM\’s. The card is great for everyday purchases, special occasions, and emergency backup.

Prepaid credit cards, also known as prepaid debit cards, are becoming popular among people unable to qualify for a checking account or credit card. With all the card options, it’s always helpful to know what you are doing before you go out and get a card.

Often, people look at prepaid credit cards as being all the same; however, different cards have different types of fees, features and services. This article will guide you on how to find a prepaid card that is right for you.

Step One: Identify Card Use

If you are in the market for a prepaid card, the first thing you should do is identify why you are getting the card. Will you be using it on a regular basis? Or will it only be used for special occasions? The majority of cardholders use prepaid cards to handle their personal finances, such as paying for groceries, bills, and other necessities. On the other hand, some people like using prepaid cards for special occasions, such as vacations, traveling, and online shopping. Identifying how you will be using your prepaid card will help narrow down your card options.

Step Two: Identify Card Features

From the previous step, you identified how you plan on using your prepaid card, now you need to identify what card features you are looking for. ATM withdrawal and direct deposit is common among most prepaid credit cards and usually a necessity; however; some features, such as SMS text alerts and short-term loans, are more of a luxury and only offered on select prepaid credit cards. For example, a card with higher deposit limits and free bill pay may be more important features if you’re using the card to handle most of your personal finances, but not as necessary for someone using it just for vacation. Make a list of features you need, a list of features you want, and a list of features you can deal without. This will come in handy when you begin searching card offers.

Step Three: Identify Card Fees

The last thing you will need to identify when choosing the right prepaid credit card are the fees. Every card is set up differently and has its own fee structure. Not all prepaid cards charge the same type of fees, but some of the more common fees you can expect to see are: activation fees, monthly fees, bill pay fees, ATM fees, and transaction fees. Identify all the possible fees you can expect to pay along with an ideal and maximum amount you are willing to pay for each fee. This step helps by set a budget for how much you are willing to spend on your prepaid credit card.

Step Four: Card Comparison Sites

Now that you have an idea of what you are looking for in a prepaid credit card, it is now time to start shopping around to find the card that fits your needs. With so many prepaid cards available to choose from, it can be quite time consuming searching through so many card offers online, this is why card comparison sites are so useful. Most credit card comparison sites have categories for prepaid credit cards, but since these sites are formatted for traditional credit cards, the prepaid information may not be as useful. It is better to use a card comparison sites that are designed primarily for prepaid credit cards. These websites are great information resources for finding the right prepaid card; you can compare prepaid credit cards, read card reviews, and get information on a variety of prepaid credit cards without searching the internet for each card individually.

Step Five: Apply and Review

Now that you have used a prepaid card comparison site to find the prepaid card that matches what you need in a card and what you are willing to pay, all you have to do is apply. Once you have applied for the prepaid card that is right for you, write a card review on the prepaid card comparison site that you used. By writing card reviews, you can contribute to the community of prepaid card shoppers by sharing your own personal experience with the card.

There are number of prepaid credit card offers introduced by the worldwide banks. It’s very easy for the person having bad credit to apply for a prepaid credit card. To get a prepaid credit card, the person needs to deposit some amount in to the credit card account, then only the card will be issued. It is almost same like a debit card. And there are no bills and interest cahrges. Initially there’ll be fee to set up a account, the amount varies around $5 to $10 to set up a prepaid credit card account. There are hundreds of offers available in U.S. Lets see the detailed description and benefits about a few offers named as the best offers.

Johnny Cash™ Prepaid MasterCard® Card: This card comes with a slogan mentioning "If You Love Cash… You’ll Love this Card!

This card offers a $2500.00 Max Value and 100% approved. There are no employment required, no security deposit, No Credit Checks, No Turndowns and there is absolutely no annual fees. The 20/20™ Prepaid MasterCard® Card: This card offers Guaranteed Approval, there are no Interest Charges or Overdraft Fees. Provides Budget Better – Avoid Debt option and the card member can use it at millions of locations & thousands of ATMs Worldwide.

The Vaya™ Prepaid MasterCard® Card: This card have some special advantages. lets see one by one. Provides guaranteed approval, there are no credit check, bank account or security deposit required, No interest charges or late fees and no check cashing fees. Provides Prepaid, with easy loading options, Free Direct Deposit and the card member can add cash instantly at thousands of retail locations. This card offers purchasing power at more than 32 million merchants worldwide, Cash Access at more than 900,000 ATMs and protected by MasterCard’s Zero Liability Policy.

Western Union® Prepaid MasterCard® Card: This card is named as Easy to get! Easy to use! No credit checks required, no lengthy application, a non-refundable $9.95 enrollment fee for the card and the applican don’t even

need a bank account. The card member can shop wherever MasterCard debit cards are accepted, can access cash from participating ATMs, the card member can reload cash on his card at any of the 47,000 participating Western Union Agent locations in the U.S. The card member can directly deposit paycheck on the card and he’ll get $4.95 waiver on his monthly account maintenance fee.

Baby Phat Prepaid Visa® RushCard: This card is simple and reasonable. There are no annual, monthly, or customer service fees. There is a One-time activation fee: $19.95 (so the card members don’t have to pay monthly fees that can cost $60 a year or more). There is fee per purchase: $1.00 (capped at $10 per month— additional purchases are free. ATM cash withdrawal fee: $1.95 (anywhere in the US)and the Inactivity fee is $2.95 (no loads, purchases, or ATM activity within 60 days).

Prepaid Visa® RushCard: There are no monthly, annual, or hidden fees. This card offer is created by philanthropist and entrepreneur Russell Simmons. Everyone is eligible to avail this card offer. There are no credit check or employment verification. Quick and easy application processing. Provides free money

loading with direct deposit of pay or government benefits. Also provides free 24×7 customer service, activity status, & balance inquiries.

rds are a part of daily life these days. For each of us to establish a good credit rating is very important for many reasons from getting finance to getting a job.

Prepaid credit cards are a way for someone who cannot get a traditional credit card to build credit. The classic case here is the person who has declared themselves bankrupt. Once anyone does that their credit rating is reduced to zero and people describe that as having a bad credit rating, or just bad credit.

This is where a prepaid credit card can be a life saver.

There are some pros and cons to prepaid credit cards, so shopping around and being informed is important when getting one. A prepaid credit card will help build credit without the risk of falling into debt and hurting your credit rating even further.

A prepaid credit card is basically like any other credit card. It is backed by one of the major credit card companies. Prepaid credit cards, though, are completely controlled by the user. The account for the card is opened with a deposit that is then the credit limit. Whenever the user desires more money can be added. Only the amount of money that is in the account can be spent. If the user tries to spend more than their limit the card will be denied.

Walmart and Walgreens provide prepaid credit cards but there are many others. You load the card with an amount of money. Then you re-load it every time you need to use it.

Prepaid credit cards are really becoming popular because they are convenient and allow you to better budget your money than a regular credit card.

Charges vary from card to card, but it’s always best to compare fees before deciding which prepaid card is best for you. You can also find links on the above site to purchase prepaid cards.

Pre-paid credit cards are credit cards in which the owner of the card deposits funds with the credit card issuer to be accessed via the card. This is in contrast to a traditional credit card in which the credit card issuer gives the user a card without receiving any money in advance.

The merchant uses their standard procedure for accepting credit cards of any type. This often involves swiping the card through a terminal. In this case, the terminal is connected to a network that allows the card to be approved or declined. In the case of a pre-paid card, the amount of the purchase is compared to the amount of funds remaining from the original deposit. If there are sufficient funds available, then the transaction is approved. The amount of the purchase is deducted from the funds that were originally deposited with the credit card issuer and the remaining funds become the card\’s new balance.

Any government agency can deposit unemployment benefits, child support payments, etc. directly into a prepaid card, as your employer can do. You might be able to put money in it by yourself. The money can be used right away and the amount you spend or withdraw is deducted from it immediately. Just like debit cards, prepaid cards have a personal identification number.

There\’s nothing simpler. You pay up front. When the card runs out, you refill it. Use it like a credit card, but no bill at the end of the month, only a statement showing what you\’ve spent. That\’s why it\’s prepaid.

All you do is to decide how much to put on your prepaid credit card – and deposit that amount on the card, as you would into a bank account.