Pre-paid credit card?

Question

do prepaid credit cards help build ur credit score?

Answer 1

It depends.

Most pre-paids dont help your credit.

Most "loaded value" cards do.

If you want a card that is fool proof and reporst to the credit bureaus; try the "Eufora Credit Builder Mastercard"


Its very much like a debit card that reports to the credit bureaus even if you dont use it.

Here is a direct link to apply: http://www.goeufora.com/418121496892

Answer 2

Some are right, you do have to get one from a bank. And start with just 50 bucks or more. Then put 50 bucks every month or more if you can afford it. it won't raise your credit much.... but a good way to start. once you've had one for about a year or so, get an amex! then ask your bank or use your computer to keep track of your spending and deduct it from your bank account so you know you have enough to pay the bill all at once when it comes in. after two years choose the pay over time option and that will increase your credit alot more!! It takes a long time to raise your credit. use this website to learn more about credit scores and how to choose a good credit card or secure cc!! GOOD LUCK!

Answer 3

Most prepaid credit cards do not help you rebuild your credit. That is because prepaid credit cards are like debit cards. They do not extend you any credit, so there is nothing to report to the credit bureaus.

Having said that, there are a couple of prepaid credit cards that have a "credit builder" service. What this service is that you pay a fixed amount (usually $19.95) as a fee to the prepaid card issuer. This fee is reported as an interest payment to the credit bureaus, which helps build your credit.

Hence, there are prepaid credit cards with "credit builder" service that helps you build your credit. Having said that, you may want to consider a secured credit card instead as it is probably more cost effective (you do not have to pay any fees - your monthly payements are reported to credit bureaus).

Answer 4

Pre-paid credit card? That's a debit card I thought, last time I checked. Having one credit card (and paying it on time) can help your credit score. Pay the credit card on time too!

Answer 5

no, Though prepaid credit cards are accepted at any regular retailer that carries the credit card logo, they are not a ‘credit’ card in the normal terms, since the issuer does not extend you any credit facility. Instead your spending limit depends on the amount of money you carry on the credit card at any point of time. After the amount on the card is exhausted, you can either purchase another prepaid credit card or opt to transfer money to another card you hold, based on the nature of the card program.

Answer 6

Pre-paid does help your credit as long it is through a bank. If it is a pre-paid visa like a gift card, no that will not help you repair your credit or gain credit.

Answer 7

No. They just give you money to use if you need it without having to carry cash. They work basically like a debit card.

Answer 8

i think that's called a debit card.

Answer 9

No--no no no. No matter what their ad hype tells you.

Answer 10

only perfect answer