Inc Pad

Many people do not apply for credit cards for many reasons. The main reason most people give is they fear they will be turned down. Another reason not to apply for a credit card is because of all the advertisements and credit card invitations one receives in the mail almost on a daily basis. At Providian there are several types of credit cards.

One way to join the ‘plastic money’ world is to use a prepay card. This type of card guarantees that no credit check is required and there is a 100% acceptance for anybody who applies. To the average person this is not really a credit card because it of the way it is funded. You place money on the card and can use the card wherever credit cards are accepted until the money on the card runs out.

If one stops to think about it, with other types of Providian credit cards, there is a credit limit and when the limit is reached, the card will either reject the charge or accept the charge and tack on a rather large overdraft fee. With the prepay card there is no activation fee and no overdraft fee. While there is no minimum balance required, the Providian prepay card offers a special bonus for those who choose to fund their card via direct deposit from a bank account.

With a minimum deposit of $50 a bonus feature immediately comes into play which is an additional $25 advance credit limit. Most credit card issuers do not include a special feature which is offered by Providian even for prepay cards which is access to your credit score and a way to improve it. For example, each time you use this card for a purchase whether for an online transaction or for an offline transaction.

The transaction is recorded on your credit record. Merely by paying funding the card and using it correctly, your credit score improves which in turn can extend the limit available to you if you decide to move up to one of the other types of credit cards offered by Providian.