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No Prepaid Cards Available from Capital One
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My husband and I chose Capital One's secured Mastercard as the foundation for our credit re-establishment and are very thankful to have had that account. We had amassed a large amount of debt and were working to eliminate it and as we got closer to reaching our goal, we knew that we needed to start doing something to not only repair our existing credit situation, but start to establish new, good credit.
While a secured card is shown as just that on your credit report, working with a company like Capital One can make all of the difference in the world as to how future potential creditors see and rate you. Capital One was very liberal about checking our credit situation and over time, started increasing our credit limit without us having to deposit the additional money into our account. This was the first sign that we were finally establishing ourselves as trustworthy individuals again and it felt really good!
The monthly fee was very low for this type of card and can be waived by depositing a certain amount into your account. No perks of any type are offered with this type of card, but the caring customer service and improvement seen on our credit reports, virtually within months of establishing our account, were priceless. Unlike other pre-paid credit card companies, Capital One does report to all three of the major credit bureaus and that was one of the biggest reasons we opted for their secured card. Even with just small steady purchases on our part and replenishing our account accordingly, it didn't take long at all for Capital One to offer to convert the secured Mastercard to one of their premier cards. We will be forever grateful to Capital One for giving us the opportunity to rebuild our credit and our lives with their services.…read more