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When you use a debit card, the cost of the transaction is taken out of your checking account.

As a result, debit cards do not help you build credit.

The short answer is that prepaid debit cards cannot help you build your credit history. We’ll sort through all the different types of credit, debit and prepaid cards, and how each generally can affect your credit score and credit history.

But first, let’s take a look at some of the best credit cards (not prepaid) that can help you build credit.

While you can monitor your credit with some prepaid cards, as noted above, you won’t be affecting your FICO credit score by using a prepaid card.

Low cost prepaid cards are a safe, convenient way to manage money for those that want to avoid credit and are unable to qualify for a checking account (usually because of Chexsystems).

In response to an article about free and low cost prepaid cards, a reader asked about building credit with a prepaid credit card: “Is using a Prepaid Credit Card a way to build a credit history for someone who doesn’t have one?

” This is a great question, and underscores how confusing the different types of credit and debit cards can be.

While debit cards today look like credit cards, including the Visa or Master Card brand, they are more akin to writing a check.

Instead, you transfer money to the card (via direct deposit, online, at certain stores, etc.) and then can use the card anywhere that accepts Visa or Master Card.

While these cards are sometimes referred to as prepaid credit cards or prepaid debit cards, they are really just prepaid cards.

If you’ve used a prepaid card to build credit, please leave a comment and let us know how it worked out for you.

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