Credit Card Shopping for Fun and Profit: Prepaid Credit Cards

If you have no credit or bad credit and you've tried in the past to correct it you know what a difficult task that can be. There are plenty of reasons why you might have bad credit - divorce or bankruptcy to name just two. No matter what the reason, you can start to rebuild your credit at any time, and Prepaid Credit Cards can help you do it faster.

Check out these steps that will help you turn bad credit or no credit at all into good, solid credit:

1) Get a checking and savings account. Banks and credit agencies like to know that you have both. A checking account shows them that you have the tools you need to pay your bills, and a savings account shows them that you are thinking toward the future.

2) Get a copy of your own credit report. If you are new to the United States or are young you may not have a credit history on file. If you have had problems with credit in the past, those issues will probably be on the report. All of the three major credit reporting agencies - Experian, TransUnion and Equifax - will provide you with your credit report free and on-line. Just search Google for "credit report" and find one that's free and with no hidden charges.

3) Make sure that all of the basic information on your credit report is complete and accurate. The report will list information such as phone number, address, a second address if you've been at your current address for less than two years, date of birth, Social Security number and so on. Instructions for getting this information corrected will be included with the report.

4) Check all of the credit information on your credit report and make sure it is complete and accurate. If you find that some of the bad credit references are wrong, you should dispute these in writing - instructions for writing a dispute will be included with the report. Accounts that aren't yours, old or inaccurate data - dispute them all.

5) Shop on-line for a prepaid credit card. Secured, or prepaid credit cards are a form of secured loan. You can get one no matter how bad your credit history is. The issuer will require that you deposit a small amount of cash into an account - then they'll issue you a credit card with a spending limit close to the amount of your deposit. Shopping on-line for a prepaid card lets you compare different cards, pick the best one and apply very easily and privately.

6) Once you have your secured credit card, make sure you use it responsibly. Only charge as much as you can pay off each month, and make sure you pay your bill on time every month. When you've shown a willingness and ability to handle your credit responsibly for twelve months or so other credit options including unsecured credit cards will become available to you.

Bad or insufficient credit can haunt you at times when you need the trouble the least. Using the steps outlined above you can begin today to establish good credit so that it will be available when you really need it.

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