Prepaid Credit Cards
If your credit is non-existent or damaged enough that you can’t get an unsecured card even with a very low credit limit, then secured or prepaid credit cards may be your path to rebuilding credit.
With these cards, you usually make a deposit (e.g. in a savings account with the issuing bank) which will be used to pay off the card if you can’t or don’t do so normally. A good place to get prepaid credit cards is to start with a bank where you already have bank accounts. Alternatively, most of the places which provide unsecured cards for people with bad credit will be even happier to give you a secured card.
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This entry was posted on Saturday, December 5th, 2009 and is filed under bad credit, credit cards prepaid.
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