Prepaid credit card

This type of card looks like an ordinary credit card, but has nothing to do with “credit” itself. After purchasing a card you have to load it with as much money as you want which could later be spent. You don’t have to pay any interest, but a monthly card maintenance fee and transaction fees. A common use of prepaid credit cards are for teenagers as they can spent a limited amount of money without having an ordinary credit card.

Before purchasing a prepaid credit card take a good look at the conditions as in some cases providers charge high amounts for using costs.