Life can be pretty difficult if you happen to be in the unfortunate position of having less than perfect credit.The fact that credit is almost impossible to get even if you really need it is bad enough, but, life in the USA today without a credit card is nigh on impossible. Booking a hotel room, hiring a car, buying products online, hiring equipment and many other straightforward activities require a valid credit card with no “if’s or but’s”.
Many people have been in this position but have managed regain decent credit scores through the use of prepaid credit cards. The great thing about prepaid cards is that there are generally no checks or qualifications required – no credit score, no employer contact and no guarantors required. In a nutshell anyone can get a prepaid card, they simply have to deposit funds to provide the credit limit required. Essentially it is a debit card as no credit is offered. However it can be used in any outlet or retailer, on or offline, that accepts conventional credit cards.
It is a little known fact there are prepaid card companies who report on the conduct of your card to credit bureau’s and therefore can have a positive impact on your credit score over a period of time. If you want to improve your credit profile it is important to make sure the card issuer will report to a credit bureau. If this is not the case then the prepaid card will have no effect on your credit score whatsoever.