Rosario Hill asked:




Here is some advice on your prepaid credit card application. These funded re loadable cards are available online and in local retail stores. These cards can be recharged and used again and again. You could use them anywhere Visa or MasterCards are accepted. Here are some tips on what to look for when applying.

You could apply for these cards online or at any stores that provide prepaid cards. The benefit of applying online is that it comes with a free online account where you could check your balance and recent transactions. Some cards are now equipped with free credit builder. Every bill you pay will be re-ported to the three major credit bureaus. This option is good for individuals who are looking to decrease their debt and increase their credit score.

Everyone who applies for a prepaid credit card is approved. That’s right; there is a 100% approval guarantee. There is no Chexsystem or credit check. Even if you filed for bankruptcy in the past you could still receive your card today.

The biggest benefit is the free options these cards are loaded with. There is no late fees, no interest charges, and no over limit fees. Many Americans only pay interest on their credit cards. Using a prepaid debit card eliminates all these charges.

Remember, you only get to spend the amount of money you put in your account. It is possible to have direct deposit to your account so you won’t have to pay to cash your checks. This is one way to control your budget and never get in to debt by using credit cards.

To apply for a card is relatively easy. Just fill out the application and you are instantly approved. This could be done online or at any stores that provide prepaid cards.

Bradley

Peter Burke asked:




Study reveals that nearly 9 million people in America have problems of bad credit. This forms about 3% of the population, (over 6% of the adult population!) of the United States. So the knowing the credit history of a person is gaining ground and necessity for creditors.

The fact remains if your FICO rate is below 620, people won’t lend you any credit. This FICO score being low has various reasons like bankruptcy, excessive debts, inability of rendering payment of bills at proper time, among others.

However, there is a ray of hope! Your credit score can be improved. This can be done by maintaining your potential for credit,however small it may be and making it clear to creditors that you’re capable of paying your debts in time, without having to having to resort to more credit. To help you improve your credit there 5 basic steps below.

1. Get yourself a copy of the your credit report. Then utilize the various advantages of the credit report of the government (which is free) from every Bureau of the National Consumer Credit – Equifax and Trans-Union. This will get you to the start of the process. It will give you a clear picture of your present rating.

2. File an application for a credit line, which may be a secured or unsecured credit card.

3. On getting the card, do not make blind purchases. Restrict the purchases to 70 percent of limit imposed on the credit card. i.e. if the limit of the credit card is $500, use it to the extent of $350 only.

4. Then, make sure you pay pay bills at the proper time, as this alone takes up 35% of the FICO score of yours. So this is a good base for creditors to judge your creditworthiness.

5. So what about Prepaid cards?

You can also use a credit card that is prepaid. This often a solution that many borrowers are unaware of. This, is perhaps the simplest and most effective method for longer term improvement if you have debt discipline problems. This effectively means you will mean using a credit card to rebuild credit – a ‘win-win’ situation. Use a prepaid credit card that is reported to a Credit Bureau. Only a few of the credit cards regularly report to a credit bureau. So select one that does so, on a regular basis.

One thing to note about prepaid cards is that you must Keep a track of fees. The prepaid card companies often levy fees. Make a prior comparison with many companies in order to secure a credit card where the lowest fee is charged. Bear in mind that some fees need to be paid for credit cards that get reported to the credit bureau, which can be up to an annual fee of$100 – But remember the purpose of this card is to repair credit!



Check the benefits

Some prepaid cards are available with certain benefits, but not all of them. Some give you points which can be used for free call time and other activities.



Preventing abuse of the credit card

Prepaid cards have the distinct benefit that you can never cross the limit, so it enables you to avoid interest and penalties. The implication is that if a report to the credit bureau is made, it is literally impossible to get a FICO score which is lower than your current score with such a card. So you can get credit cards to rebuild credit. It only gets better!

Randall

Linkyn Damon asked:


I want to purchase applications from the APP STORE on my iPhone 3G, but the only way to buy them is with a credit card. Does anyone know when Apple will come out with a prepaid card, similar to the prepaid iTunes card.

Tina