Pre paid visa card, how do they work?

Question

i cant get visa card because of bad credit.

but heard there a pre paid visa card, where i just walk into a bank put some money on it, and then can use it.

can i get 1 with bad credit rating in the past?

after all i wont be able use it if theres no money on it can i.

Answer 1

apply for one and see, like you said if theres no money in it you cannot use it.

Answer 2

I think they are are similar to secured credit cards. Prepaid cards, I believe, are cards you buy, where you put $xx. on the card. Then use it like a regular credit card, until all the money is used. Secured cards are the same. Except they are on going. You put as much as you want on deposit, and can charge up to that amount. But you can continue to make deposits, using the same card. Secured cards are a great way to build credit. I don't think prepaid cards count on your credit score/

Answer 3

yeah you can get a prepaid visa. They don't do a credit check because it is basically a gift card that can be used anywhere rather than at a specific store.

Answer 4

THATS ONE WAY TO TRY AND FIX UP CREDIT CAPITAL ONE FOR EXAMPLE HAS THAT GOING ON U CAN ONLY SPEND WHAT AMOUNT U ACTUALLY PUT IN .... OVER TIME WHEN U PAY OFF WHAT U PURCHASE YOUR CREDIT GETS BETTER AND BETTER ... U MUST PAY ON TIME AND PAY FULL AMOUNT MONTHLY .

Answer 5

well the pre-paid visa can be purchased at many places like the bank, walmart,cash advance places,etc... it usually costs $9.95 which is a one time fee and you can use the card until it expires just like a regular credit card. except it doesn't come with the inconvenience of a credit check, over limit fees, late charges and finance charges. pre-paid visas do not effect your credit report and no credit report is needed to get one. if you have a checkings acct all you need to do is get a debit card with the visa or MasterCard logo....which all major banks have. a prepaid visa acts more like a debit card but has pretty much no strings attached. i hoped i answered your question. i have much experience in the financial industry if you have any more questions.... just let me know!

Answer 6

Essentially it's like a bank account. Your balance is tracked through expenses, as it would be in using an ATM/Check card, if you had a bank account.

  If you submit 100 300 500 $$$, that is your limit of ability in spending. You can certainly track that through the Holder/owner of your account, and "re-charge" when need be.

  It has no correlation to your credit standing at all. It is strictly YOU giving over money to the OWNER of the system, to be held as if in a bank, and used, until it's depleted, or added back to.