A prepaid credit card is not a credit card, since no credit is offered by the card issuer. The cardholder spends money which has been stored via a prior deposit by the cardholder or someone else. Prepaid cards may be issued to a specific store or may carry a credit card brand (Visa, MasterCard, American Express or Discover) and can be used just as though it were a regular credit card.
Prepaid cards can be issued to minors (above 13) because there is no credit line involved. With prepaid credit cards you are not charged any interest but you are often charged a purchasing fee plus monthly fees. Other fees also usually apply to a prepaid card. Check the card’s terms of service before you apply.
The Facecard prepaid MasterCard® is an execellent prepaid card because it has no activation, montly or annual fees. The Facecard also allows you to setup bill pay and you can have your paycheck automatically deposited to your card.
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