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Have you heard of a prepaid Master Card?
If so, how does it work?
5 Answers
- 1 decade agoFavorite Answer
Yes, I have heard of them and they end up costing you more money than what they are worth (in my opinion). A banking organization issues you a MC or Visa for X dollars per year. You send them lets say $300 to put on the credit card as money to charge against. You can use the card just like any other card except it's your money that you are "borrowing" against. You are using no borrowed or loaned money from the organization. For each withdraw from your card you must pay a small fee to the company. Each month you make payments to the company as you would a normal CC. You could do the exact same thing by using your debit card from your local bank and not have to pay a yearly fee or other fees.
Source(s): Information taken from Orchard Bank ad. - durrettLv 45 years ago
nicely i began out with a prepaid visa from orchard financial employer and that i could say it became the main suitable element i could desire to do to get my credit going. After that then choose for the genuine stuff. i'm hoping this helps. Smile risk-free! existence is all around you!
- Anonymous1 decade ago
you buy the card and put what ever money sum you want / have on it ...like prepaid phone card pay before using... they you buy and charge against the prepaid card
- Anonymous1 decade ago
Unfortunately I haven't heard of them. I have heard of the Visa card, though... Sorry I couldn't help!
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