what is the difference in a normal credit card and a prepaid credit card from a bank?
2006-07-10 12:18:14 · 3 answers · asked by peakcox 4 in Business & Finance ➔ Credit
If by 'prepaid' you mean a SECURED card, where you give the credit card company a 'deposit' amount and that amount becomes your credit limit, then there's not a huge difference. You still have to make payments on your credit card bill. Your credit limit is typically the same as the amount of your deposit.
Secured cards are good for building new credit or rebuilding after a bankruptcy.
2006-07-10 12:57:25 · answer #1 · answered by SciFiDiva 2 · 1⤊ 0⤋
Prepaid credit or sometimes called gift cards are loaded with a specific amount of credit.
Regular credit cards have a credit limit set by the card holder.
2006-07-10 20:47:26 · answer #2 · answered by John H 4 · 0⤊ 0⤋
you have to pay a credit card you dont have to pay a bank card cuz the bank card uses the money you have in the bank ( i would know my mom has one )
2006-07-10 19:22:26 · answer #3 · answered by Joanna 3 · 0⤊ 0⤋