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jwintint
Posts: 1
Registered: ‎05-01-2007
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Prepaid CREDIT CARDS same as standard cards

I need to get a credit card, just had bankruptcy. Do the prepaid cards improve scores as well as regular credit cards? Is there one in particular that is better than another?
Moderator Emeritus
Tuscani
Posts: 6,182
Registered: ‎03-29-2007
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Re: Prepaid CREDIT CARDS same as standard cards

You mean secured? Yes, the card should report as any other card eventhough it is secured (just double-check with the CC company to confirm).
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Boswd
Posts: 1,065
Registered: ‎04-26-2007
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Re: Prepaid CREDIT CARDS same as standard cards

This is when it is really important to shop around some are better than others in terms of annual fee etc.   I would try your bank first, if no luck there then shop around  some are really bad and charge soo many fees, application fees, annual fees this and that, that even once you send in your money you have about $50 to start with.   try www.creditcards.com.   But I will go to your local bank first they normally offer the best deals interms of limited fees.
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Tuscani
Posts: 6,182
Registered: ‎03-29-2007
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Re: Prepaid CREDIT CARDS same as standard cards

BofA has a superb secured card called the 99/500 (you put $99 down and get a $500 CL).
 
The catch... You have to be denied one of their regualr cards first. And eventhough you are denied, they may or may not offer the 99/500.  
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Boswd
Posts: 1,065
Registered: ‎04-26-2007
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Re: Prepaid CREDIT CARDS same as standard cards

and they do offer traditional secured cards as well.   And the beuty of BofA (which I still can't get a secured cc LOL )   Is that what  Tuscani has said is you apply for their credit builder/unsecured card and then if denied they will send you links to the other more applicable cards without doing anymore credit inquires.
Regular Contributor
KDM
Posts: 183
Registered: ‎04-17-2007
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Re: Prepaid CREDIT CARDS same as standard cards

What makes the 99/500 card with BofA superb? 
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Tuscani
Posts: 6,182
Registered: ‎03-29-2007
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Re: Prepaid CREDIT CARDS same as standard cards

^^ you get a $500 CL for only $99.
Regular Contributor
KDM
Posts: 183
Registered: ‎04-17-2007
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Re: Prepaid CREDIT CARDS same as standard cards

How good is BofA though at converting it to a regular card?  I know someone who just got one so I'm curious.
Moderator Emeritus
Tuscani
Posts: 6,182
Registered: ‎03-29-2007
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Re: Prepaid CREDIT CARDS same as standard cards

Not sure. The thing that sucks about upgrading or converting is you will likely lose account history.
Regular Contributor
KDM
Posts: 183
Registered: ‎04-17-2007
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Re: Prepaid CREDIT CARDS same as standard cards

How long does it typically take BofA to convert it to a regular card?  As long as you have other tl's it shouldn't hurt that much.

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