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Back to: Prepaid Credit Card Forum - Back to: Prepaid Cards most asked questions - You are here: What is a prepaid card?
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A prepaid card is not a credit card it is a card that you preload your money on to. The is no credit facility so no credit checks are conducted, The money you load on to your prepaid card becomes available for you to spend. You can only spend what you load on to the Prepaid Card
Prepaid cards are similar to credit or debit cards, except the money you spend is pre-loaded onto the card - much like a gift card or a mobile phone top-up.
You cannot borrow money on a prepaid card, so you can't go overdrawn or get into any debt. This is the beauty about prepaid - eliminating the risk of going in to debt
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Back to: Prepaid Credit Card Forum - Back to: Prepaid Cards most asked questions - You are here: What is a prepaid card?
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