Prepaid Credit Card

“Prepaid credit card” is a term that sometimes is (wrongly) used to refer to a prepaid debit card. A “prepaid credit card” is also known as a “secured credit card” – a card that extends minimal “credit” based on an amount of funds you deposit (as “security”) into an account associated with the card.

In many situations, a prepaid debit card with a credit builder option is a better way to build credit than a “prepaid credit card” or “secured credit card”. Check the fees associated with all the options to pick the card that fits your needs.

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