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Prepaid Credit Card - Buyer Beware

July 25th, 2007

Don’t think prepaid credit cards have fees? They vary widely so check the fine print first.
Generally speaking, gift cards purchased directly from retailers, hotel
chains, restaurants, etc., have no initial cost to purchase and much
lower - if any - fees. Prepaid credit/debit cards are another story
entirely. Virtually all prepaid debit card distributors immediately
deduct a certain percentage of the purchase price as a fee for the
initial processing of the card.

Check out how I learned the hard way about prepaid credit cards and get other debt relief tips.

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