Pre-paid Credit Cards

So, I don't have a credit card. It's a choice. Generally I dislike the idea of paying for the privilege of going into debt (annual fees and such). But it does kind of limit me in terms of spending my actual money in places where I can't use cash (say...online.)

While looking at the payment options on Amazon recently I noticed "Pre-paid Credit Card" was an option. I did the google thing and found it's basically a debit card, but it apparently comes with an activation fee. So my question is, has anyone used one of these suckers and are they useful?

Uh, prepaid credit cards are like...gift cards I think?

Just get a fucking debit card attached to your checking account.

Yeah it's like paying $55 for something that costs $50 because they charge you $5 to activate it. Not worth it.

Quote:

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Originally Posted by Cowutopia

Just get a fucking debit card attached to your checking account.

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This.

Or you can just use a no-annual-fee credit card with a shred of common sense. If the cash isn't already in the bank, don't buy it.

Or, if you really are dead set against a credit card, then...

Quote:

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Originally Posted by Cowutopia

Just get a fucking debit card attached to your checking account.

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How people don't already automatically do this baffles me.

You need to get a credit card asap, otherwise you'll be fucked later when you need credit to do things like getting a car or a house. Find one with no annual fee, use it sparingly, and pay the bill in full every month. Find one with a good % back on gas and use that card to fill your tank.

I have a credit card from my bank, it's the only one I ever use, and it's basically just like having cash on hand. If I don't pay maybe I'd take a hit but I never use it excessively and have a fantastic credit rating.

If you only have one CC you should sign up for another. You can get a Sony card and get $150 off a PS3. Or just get one that does cash back. When I went for my auto loan I had two credit cards. I had them for a long time and had a credit score in the high 700s but still couldn't get a good rate because they needed 3 long term credit records. I had to put off buying a car for a couple months while I got a new CC and waited for it to show on my credit report. If you don't work to get and maintain a good credit history you are only fucking yourself over later.

I have a target card I never use as well. And a Sears one as well. I threw them away actually and just never use them. (By threw away I mean cut up).