Forums
New posts
Search forums
What's new
New posts
New profile posts
Latest activity
Internet Search
Members
Current visitors
New profile posts
Search profile posts
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Forums
General Discussions
The Watercooler
Credit card for teens???
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="InsaneCdn" data-source="post: 554096" data-attributes="member: 11791"><p>There is a difference between a "prepaid" credit card, and a "secured" credit card.</p><p>A prepaid card doesn't build credit rating, per se, but using it well will give you a bit of a toehold into that CC company and into a secured card.</p><p></p><p>A secured card is like the deposit on an apartment. You put money up front to the bank (not into the CC acct), usually for a year. It is worth a certain % of the credit limit. If you don't make your payments, they close the account and keep the deposit. If you run a clean account for the year, they apply the deposit to your account. But... you are building credit.</p></blockquote><p></p>
[QUOTE="InsaneCdn, post: 554096, member: 11791"] There is a difference between a "prepaid" credit card, and a "secured" credit card. A prepaid card doesn't build credit rating, per se, but using it well will give you a bit of a toehold into that CC company and into a secured card. A secured card is like the deposit on an apartment. You put money up front to the bank (not into the CC acct), usually for a year. It is worth a certain % of the credit limit. If you don't make your payments, they close the account and keep the deposit. If you run a clean account for the year, they apply the deposit to your account. But... you are building credit. [/QUOTE]
Insert quotes…
Verification
Post reply
Forums
General Discussions
The Watercooler
Credit card for teens???
Top