Free prepaid credit cardsare hard to find. There are many ways to pay for purchases in life. Cash is a classic. Barter works sometimes. But plastic is the money of the modern age. One type of plastic is the prepaid card, often called a “prepaid credit card”, though really it doesn’t run on credit.
MasterCard says that “prepaid programs are powerful solutions for facilitating access to and spending money with greater security and efficiency than cash or cheques (checks).” Indeed, prepaid cards can play a role in careful financial management, as long as you understand their benefits and limitations.
Here are some facts you need to know about prepaid credit cards:
Of course, one way prepaid cards are good is that they let you have instant credit cards; so if you need a card to, say make a purchase online, these might be your answer. For those who need a credit card for bad credit with no fee, or at least a minimal fee compared to an actual credit card, these can really help.
Clark Howard. http://www.clarkhoward.com/news/clark-howard/personal-finance-credit/suze-ormans-pre-paid-card-goes-kaput/ngRjF/
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