With prepaid credit cards or secured credit cards, you deposit money onto the card, and you then spend the money on the card until it's all finished, just as you would with a prepaid calling card, for example.
There is no credit limit, and the card must be refilled before you can use it again. The advantage to a prepaid secured credit card is that it's impossible to go into debt using one!
If you have poor credit or no credit history, then it's a good idea to get a prepaid secured credit card to help build up positive credit. |
