Chosen by Asker

Though prepaid credit cards are accepted at any regular retailer that carries the credit card logo, they are not a ‘credit’ card in the normal terms, since the issuer does not extend you any credit facility. Instead your spending limit depends on the amount of money you carry on the credit card at any point of time. After the amount on the card is exhausted, you can either purchase another prepaid credit card or opt to transfer money to another card you hold, based on the nature of the card program. Though prepaid credit cards resemble debit credit cards a lot, the two are vastly different.

Source(s)

debts-to-wealth ...

by hendy h

2 years ago

Asker's Rating: 

"If you are not in position to get a credit card due to bad credit, then you can opt for a prepaid credit card. Prepaid credit cards offer many benefits like: Interest-Free purchasing Even people with a bad credit history can get prepaid credit card. The credit limit varies according to the balance on the card. Most of the retailers accept prepaid credit card, and it can be used just like a credit card or a debit card.When you use prepaid credit cards for any purchase, your money spent would be automatically debited from your balance present on the card."

by window d- 2 years ago