If youre having trouble getting approved for a credit card, a prepaid debit card may be just what you need. Unlike many regular credit cards, prepaid debit cards do not perform a credit check when you apply. So if youve had trouble with credit or have no credit, youll still be approved for a prepaid debit card. And these cards come with other benefits as well. A prepaid credit card can be the first step down the path to better credit.
How Prepaid Debit Cards Work
Prepaid debit cards are similar to both credit cards and debit cards. After getting approved for one, youre able to deposit money into your new account. This is often referred to as loading. The amount of money you load on to your card is equal to your line of credit. When you swipe the card, the money is subtracted from the amount you deposited. As long as you have money on your card, you can make purchases. You can use the card anywhere that debit cards are accepted.
Having a prepaid debit card is similar to opening a checking account on a card. You can deposit money whenever you need to, and spend within your account limits. This system helps keep you far away from credit card...
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