A prepaid credit card is a great asset to have in your wallet.
In this article, I would like to take a look at what a prepaid card is, why you should have one, and how to get one.
What is it? A prepaid credit card works just like a regular credit card, except for the fact that the money to cover your charges must already be in your account.
When you apply for and receive a card, you are given an account that is linked to the new card.
You deposit money through ATM's or direct deposits into the card account and you have that money to use anytime you need it.
Why you should have one? These cards are a great item to have because you can do some much with it.
You can use it to reserve hotels and rental cars, withdraw cash from an ATM, pay for groceries, and many more things.
It is so much better than having checks on hand, because you can never spend more money than you have! This means you can learn the correct way to save and spend your money.
It teaches your financial responsibility.
Another benefit and a big one is that some of the prepaid credit cards report to the major credit bureaus which helps to restore your credit if you have had some negative marks.
How do you get one? It's really very easy to get a prepaid credit card.
Since you are putting the money into your account, you are already approved and no credit check is necessary.