2006-12-24 17:08:05 · 3 answers · asked by davidreed1973 3 in Business & Finance ➔ Credit
With prepaid credit card, you have to put in some money before you can use the card. Your limit is equal to whatever money you put into the card. There is a initial charge on prepaid card.
The one you get from the mail are credit cards. Theses cards has a pre-set limit for you to use and has a interest rate as high as 19%.
Some of these cards have annual fee. Some don't.
2006-12-24 17:18:46 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Prepaid cards are actually debit cards. You pay the company for the card and then use the card in place of money. Credit cards allow you to purchase stuff and pay for it later.
2006-12-24 17:18:26 · answer #2 · answered by angel_light 3 · 0⤊ 0⤋
Yep. Prepaid means you pay up front, and purchases are deducted from the initial amount. When you run out of money on your card, pay some more into it.
2006-12-24 17:18:46 · answer #3 · answered by eferrell01 7 · 0⤊ 0⤋