Will prepaid cards...

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Replied by Meya on topic Pre-paid cards are just loaded

Pre-paid cards are just loaded funds from your cash. I think what is trying to be said is, "Does secured cards help build your credit" In this case, yes it does, because creditors will report it to your cr as a credit line and no one else will know that it is a secured card when they pull your report. If you are going to get a secured card, I will suggest that you deal with your local bank or a well known bank like cap1, bofa, wells fargo etc.
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11 years 7 months ago #1

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Replied by saurabh on topic well as far as i

well as far as i know the prepaid cards have nothing to do with credit.you dont get any score with it.
11 years 7 months ago #2

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Replied by dreamr802 on topic Prepaid cards don't do anything

Prepaid cards don't do anything for your credit. They aren't giving you a credit line that you have to pay back. The cards are like debit cards, you don't get anything on your score.
11 years 7 months ago #3

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Replied by hjm331 on topic No, prepaid cards don't help

No, prepaid cards don't help your repair your credit! If you want to start building your credit, get a secured card. The difference between a prepaid card and a secured card is that the prepaid card doesn't report your activity to the bureaus. It's just for using the convenience of a credit card. But a secured card's main purpose is to help you build your credit. Don't waste your money on cards like First Premier Bank you make you pay $200 upfront and don't give you your money back. But with a secured card, you put up $200-$300 upfront and get your money back within 6-9 months and they unsecure your card. But remember, you can't have any late payments nor go over your limit. Good luck! :cool:
11 years 7 months ago #4

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Will prepaid cards help repair your credit? If so, where do you get them through a company? I had heard chase bank had these but I didn't know if it would be worth getting?
11 years 7 months ago #5

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