What is a prepaid debit card?
Prepaid debit cards are the one type of debit card where you don’t have to get yourself into debt or take on any debt. You simply top it up with your own money and use it like a normal debit card, whether you want to top it up by $10 or $100 to reserve a table at a restaurant or a hotel room. The prepaid debit card is an ideal source for those of you that won’t to keep free of debt but be able to shop online and in stores without using cash and gaining interest.
Can I apply for a prepaid debit card if I have bad credit?
This card is perfect for those that have been refused credit in the past or struggle to get accepted for debit cards and loans because of a poor credit report. As you are using your own money there are no risks to the prepaid debit card provider which means there are no credit checks taken out so anyone with a bad credit history can be accepted for this card. Most prepaid debit cards come without a minimum balance as well so with this card you truly are in complete control. If, however, you have an exceptional credit rating take a look at what the Low Interest Credit Cards can offer you.
Research what prepaid debit cards are
As with many types of debit cards it is wise to carry out a bit of research before going out and applying for one. Due to the large volumes of people that can be accepted for the prepaid debit card a lot of issuers will offer different deals and perks so it is important to check them all out and find one that really does suit you and your circumstances. So find one that will work for you.
Some advice on prepaid debit cards
Be aware that many prepaid debit cards will charge you an application fee that can range from $5.00 to $10.00 (not all of them do, some are completely free). Along with that they can charge a withdrawal fee like normal debit cards, which can range from 50p to 3%. Regarding the age bracket for this card, you can be as young as 10 to be accepted but the majority of prepaid debit cards have an 18 restriction on them.
