johnwhetzell asked:


Do prepaid cards report to credit agencies? We have applied to two “bad credit” credit cards and have been denied because of no history so we were thinking prepaid would be the way to go. Do you all have suggestions for a prepaid card that reports montly to the 3 credit bureaus?

BEVERLEE

Share and Enjoy:
  • Digg
  • Sphinn
  • del.icio.us
  • Facebook
  • Mixx
  • Google
  • Furl
  • Reddit
  • StumbleUpon
  • YahooMyWeb

Comments

Jaime D on 30 October, 2008 at 4:46 pm #

By getting a credit card for people without any credit history. Try Capital One.

Edit: Some prepaid card companies report to credit bureaus and some don’t. I wouldn’t go with a prepaid card to build history. I was in my early 20s when I got a Capital One credit card and I had no credit history. Btw, you don’t have to get a secured credit card either. I would only go with a secured card as my last resort.


DAS on 30 October, 2008 at 5:46 pm #

pre-paid cards don’t report, so you will have to get a secure card, secured by your money. These cards are reported to the credit bureaus.


diamondeyes on 3 November, 2008 at 12:57 am #

I got my first credit card at a department store and all I had was my job on my history.

Go to Sears, Macy’s, or somewhere in a mall. Or try to apply for credit at a furniture store, or Best Buy, that offers a payment plan.

It will be for a low amount, but only use half of the amount or less.

Then you will begin to get promotional offers in the mail to give you credit.

These will also be pretty small (200-500 bucks), but still only make small purchases and try not to go over 1/2 of the amount of your limit.

This keeps your rating going up and up.

Then you can go into making larger purchases like cars, or applying for larger credit amounts.


love333 on 4 November, 2008 at 3:10 am #

You can apply for credit card for people with no credit history or limited credit.


Floppy on 4 November, 2008 at 6:26 pm #

Hello, unfortunately not all lenders report every 3 month to the CC bureaus. When I got into the US my first cc was issued by Capital One with a $500 limit which they increased 2 month later. Since than I have it and am happy with it. No Credit is better than bad credit…


ZAZ on 8 November, 2008 at 2:17 am #

- try this one. I personally use their card.
As I know it accepts everyone, even if a person has no credit and have regular update for my score for all 3 bureaus.


World D on 9 November, 2008 at 1:19 pm #

You need to start by having a good credit history created. You can check out they will create one for you for a cheap fee