After Bankruptcy - Debit Cards Vs Prepaid Cards - Which Is Better?

What do you want of Home Loans After Bankruptcy ?.

After bankruptcy or foreclosure, you have to find a new source for credit. But you may not be able to facilely get a new credit card. So you look at the new best alternatives...debit cards and prepaid cards. Ever wondered what the real disagreement is between debit cards and prepaid cards? They both use your money, they are both easy to use, they are both easy to obtain. But think about it...if you use a debit card, the money is taken from your checking or savings list and you can commonly forget to check your equilibrium before using it, whereas a prepaid card requires a deposit by you for a predefined amount. Following is some leading information that you may not know:

1. You may not be able to get a debit card if you are unable to open a new checking account, which after bankruptcy can be difficult. Therefore, a prepaid card is the easy way to handle this so you can still use a card online or in stores.

Home Loans After Bankruptcy

2. Using a debit card puts you at great risk! If an unscrupulous someone gets hold of your debit card number, it is possible that they can access your funds. The cyber-criminals have ways of obtaining enough information about you online that they can guess at your password. That is all they need to clean out the list attached to that debit card!

3. Using a prepaid card limits your liability. When you know you want to use it to make a purchase either at a bricks and mortar store or online, you can deposit or electronically exchange the exact estimate of money to this card. You deposit...you spend. Simple. If someone gets hold of this card number, they will only be able to access the estimate of money deposited into that account. As long as you are smart about the steps and do not get careless, your liability for cybercrime is minimized.

4. The other leading disagreement between debit cards and prepaid cards is associated to your credit score. Some prepaid cards narrative your activity, meaning deposits and spending, to the credit bureaus as a quarterly credit card. Because you have faultless operate over how much you use the prepaid card, you have faultless operate over what is reported to the bureaus! Cool. A debit card is plainly an electronic postponement of your checking account, and therefore, may not work on your credit. It affects your association with the bank that issued it.

With all the fears surrounding cyber crime today, it may be worth looking into obtaining a re-loadable prepaid credit card. You can see some examples of these by visiting http://www.my-prepaid-credit-card.com today!

After Bankruptcy - Debit Cards Vs Prepaid Cards - Which Is Better?