2006-10-12 08:27:25 · 7 answers · asked by John G 5 in Business & Finance ➔ Credit
Yes, prepaid credit cards can help improve person's credit score. Though, not all prepaid (or secured card as they call) will help you do that.
Some prepaid credit card companies reports directly to the major credit bureaus. These are the same credit reporting agencies that all major banks and credit card issuers utilize to judge credit applicants creditworthiness. So once a person gets and uses their prepaid cards, they begin building their credit score.
One such card I know of is Eufora prepaid mastercard.
2006-10-12 09:02:20 · answer #1 · answered by Tintel 2 · 1⤊ 2⤋
No you need to have a legit credit card if you need one Centennialcard.com is a reputable one and you can choose between a VISA or MC and rebuild your credit that way and I have a VISA card with them and I am less than $200 away from paying this card completely off and the account will be closed since I got approved for an American Express and other credit cards after paying on time and my credit score improving.
2006-10-12 18:58:18 · answer #2 · answered by nabdullah2001 5 · 0⤊ 0⤋
A prepaid card like All Access Visa will not help your score. A SECURED credit card will. For info on building credit from scratch and raising your credit score see http://creditwisdom.blogspot.com
2006-10-12 16:38:02 · answer #3 · answered by Anonymous · 1⤊ 0⤋
It is actually a prepaid debit card that you can use as a credit card. So, it won't help.
2006-10-12 15:36:32 · answer #4 · answered by spot 5 · 0⤊ 1⤋
Prepaid is usually anonymous so possibly not.
2006-10-12 15:30:13 · answer #5 · answered by rutchy 3 · 1⤊ 2⤋
as far as I know, thats one reason why they made them. Of course, dont take my word on it.
2006-10-12 15:35:48 · answer #6 · answered by mojo0520 3 · 1⤊ 1⤋
try this: http://www.cardratings.com/poorinfohome.html
2006-10-12 15:39:10 · answer #7 · answered by UNapologetic! 4 · 0⤊ 0⤋