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 put as much money as you want to on it to be spent whenever you need it. You don’t have to pay any interest, but a monthly card maintenance fee and transaction fee may be charged. Prepaid credit cards are common with 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 them.