Posted on May 29, 2008 at 4:12 am Would a prepaid credit card help to improve ones credit score? Or does it count at all since it is prepaid?

Posted on May 29, 2008 at 3:05 pm I personally am not sure about prepaid credit cards, although I know that some of the fees on them are incredible! I know I had one, and my money said it had cleared in it, but actaully hadn't, and I went it and used it, I got charged $30 for overwithdrawing (which I didn't according to my online account), then got charged another $30 later that day, because I didn't put any money into it, then got charged another $30 the next day, because it had overwithdrawn. That's just my experience

Posted on July 2, 2008 at 5:35 pm it doesn't count because it is not borrowing, here are prepaid credit cards explained: http://www.breadmarket.co.uk/credit/prepaid-credit-cards.php  hope it helps!

Posted on July 6, 2008 at 11:05 pm I have found that a credit card mentality is what gets us into trouble. We can't see any other easier way to get what we want. There are truly no free rides.Since handing in my store cards and two credit cards I have had such freedom. I understand a credit score is probably a useful thing to have but is it absolutely necessary? Aren't there better ways to get one?

Posted on February 9, 2009 at 9:50 pm I'm with Shonna on this one - debit cards are much better. We have to learn to be grown up and wait for what we want. I know next door have a huge TV, but it doesn't mean I need one too. After all, it's still the same old crap on the television. OUr society is going down the gurgler because we all carry on like greedy children. "I want it NOW!"Sorry kids, try saving for a little while, then you can have whatever you want, you may even get discount for cash!

Posted on March 24, 2009 at 2:37 am Are debit cards the same thing?  Or, is that different? I've never heard of this before. I use a prepaid debit card for my bills since it can't be over drawn. It's not drawn from a bank account.  If there's no money in there, they just don't honor the bill request.  That saves me at least $30 per over draft fee. I don't think it's helping my credit any. I still get preapproved credit card requests in the mail, so I guess someone doesn't think my credit is so bad.  

Posted on April 1, 2009 at 9:30 pm Hrmmm... I think that the only advantages I see to prepaid credit cards would be to give one to a student, for example, where the parent could load the card and the child could then make purchases for books, supplies, etc., away from home.  This way, there is control over what they "charge".  Also, for people who do a lot of shopping online, not every site accepts paypal.  If you travel, you might feel safer carrying a card versus cash or travelers checks.  Certain business transactions are just facilitated by having a credit card.  I've never had a prepaid card and I'm certainly not advocating for them but I can see limited uses for them.  I would also caution people not to confuse a prepaid credit card with a secured credit card.  They are absolutely not the same product.

Posted on April 2, 2009 at 12:50 am i think prepaid credit card really cool because you can only use it when the card have balance..so that can avoid you from over spending.

Posted on April 2, 2009 at 10:23 am people say prepaid credit cards are really good only when you have a hand that never stops shopping..If you have a card that is out of limit, you are sure to fall down to low your credit score somehow..

Posted on April 2, 2009 at 10:35 am It can help start or rebulid credit but you need to make sure they report to the credit bureua that way you know you are getting seen by the credit companines when you apply for credit cards. I would say hold the card for at least 6 months before trying to get credit though. Time is imporant when it cames to credit. I hope this helps.