SilverCard Credit Cards

SilverCard Credit Cards and Prepaid Cards

	FEATURED CARD

APR

Annual Fee

Credit

SilverCard Prepaid MasterCard®

N/A

Excellent - Good

Perfect card for government/benefits check recipients
$0 activation with rebate*
100% guaranteed approval*/no credit check
Free direct deposit of your pay or government check
This is a debit card, not a credit card; read more

Rates & Details | Full offer

[close]

The Pros and Cons of Prepaid Cards

Prepaid cards offer the convenience of a credit card without the difficult approval process or risk of getting into debt. These cards work a lot like a gift card, you will have to load the account with cash (direct deposit is usually available) before you can use it for a purchase

Prepaid cards are not credit cards; you cannot spend more than the balance you have deposited and you will not be charged interest for your spending. The pre-paid account will not be reported to the credit bureaus as a credit card.

Pros:

Easy approval process, no credit required
The same fraud liability protections as a standard credit card
Easy to use for online or phone purchases
Access cash from ATM machines
Less expensive than check cashing services

Cons:

Expensive fees for opening and maintaining the account
Fees for loading money on the account or using the card for purchases
Very limited, if any, reporting to the credit bureaus
Does not help improve your credit the same way a credit card or secured card would
Much more expensive than opening a checking account and using an ATM card

Fees and charges can vary significantly between different prepaid credit card offers. Be sure to read the fee schedule for the prepaid credit card before you apply.

[close]