Prepaid Cards: Control Spending, No Credit Required.
Prepaid cards require the user to load money onto the card before the card can be used. There is no credit check required and these cards do not charge interest, although there may be other fees charged. They are beneficial for anyone with bad credit or no credit history at all. Parents also find them useful to give to teenagers as allowance or kids heading off to college. Since cash is paid up front it’s easier to control spending and more difficult to get into debt trouble.
As usual, pay close attention to the details! It is your responsibility to know the terms and the fees of the prepaid card you are applying for.
