How to Get a Prepaid Credit Card

As students are heading back to college, many parents are wondering how to make sure their child has the money they need for school and food, and extra money for emergencies. Prepaid credit cards for teens is a great way to make sure that your teenager has the money that he or she needs.

The advantage of using prepaid credit cards for teenagers is that they can only spend the amount that you prepay to the card company. This prevents them from running up credit card debt.

We recommend the prepaid Visa Rushcard from BabyPhat that allows you to use free direct deposit if you want to add funds to your students credit card every time you get paid. The card comes with a PIN number so it can also be used at ATMs. The advantage of this card is that you can track your student’s spending online.

The minimum amount that can be added to the prepaid Visa Rushcard is $25. The card can also be loaded through PayPal or by mailing in a check or money order. There are also CheckFreePay locations that will load the card for a small fee of $3.95, but there is no charge for the other options listed above.

To check out other prepaid offers, go to Find a Prepaid Credit Card.

The benefit of using a prepaid card is that you do not have to qualify for the card, and your credit report is not checked. There are no interest charges either since you are not borrowing any money. However, they will not establish credit. Tomorrow I will write about how to establish credit.