Benefits include teaching kids how to use money and credit responsibly. It is also gives them more freedom when purchasing items out and about.
Prepaid credit cards are better than standard credit cards in that you're less likely to get in over your head financially. Standard credit cards are one of the primary ways people build debt but with a prepaid card you can only spend what you already have.
One can find information on prepaid credit cards in Canada on a variety of websites. Canada Post sells prepaid credit cards and has information both in store, and on their website. MasterCard has information on their website about their prepaid cards, and VISA has information on their website about their prepaid cards.
According to my knowledge, prepaid credit cards do not have contracts. The reason being is the credit card is prepaid. This means that the card is already paid for, therefore there is no contract to be signed in the first place.
Prepaid credit cards can be used to teach them some responsibility and get them ready for life as an adult; an obvious benefit is that they cannot go over the limit on a prepaid card. However, it would be wise to monitor their purchases with the cards to make sure they're being responsible.
There is no such thing as a prepaid credit card. There are secured credit cards and prepaid DEBIT cards. yes because if you pre-pay it can be called 'credit' other than that both cards provides the exact same facility. for you question. yes its possible to topup your 'prepaid credit card' with another credit card or using a bank account. however it all depends on whether your bank/credit card company supports such facility. refer to the link provided to know more about 'prepaid credit cards' available and different services provided by them.
There is few goods prepaid credit cards one should get. American Express offers a good deal when it comes to prepaid credit card. Also another good one is Visa's prepaid credit card.
No Not At All
The banks that offer prepaid credit cards are Bank of America, U.S. Bank Secured, Chase, Wells Fargo, Capital One Bank, also First Premier Bank offers prepaid credit cards.
Prepaid creidt cards are safer than regular credit cards. They work much like a debit card so that when the money is exhausted on the card, the card will be rejected.
Several Canadian banks offer prepaid credit cards. They include TD Canada, Scotiabank, and BMO Prepaid, among a few others.
Upside Card has the best prepaid credit cards, without annual fees. YOu can get your Visa prepaid debit card online at www.UPsideCard.com
Unless it says it, they most likely won't, because they act like debit cards. There are a few prepaid credit cards out there that report to the credit bureaus. See related link for more information.