A prepaid debit card (note that it's not called a prepaid credit card) functions something like a regular debit card: you're not allowed to spend money you don't have, so you post money upfront. The only difference is that with a prepaid card, you load money directly onto the card itself, while a regular debit card is linked to a checking account at a bank, and you deposit your money with the institution. Prepaid debit cards are popular with those with bad credit or no credit, and those who don't have relationships with banks. There are a number of popular and pretty cheap prepaid debit cards out there, but watch out for ones with high monthly maintenance fees or other "gotcha" charges like per-transaction fees. We strongly recommend that you read the entire fee schedule before you get the card, so you know what you'll be charged for. If you're looking to build or rebuild your credit history, we recommend a secured credit card, which will report your good behavior to the credit bureaus and help get your credit score back on track.



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Credit Card Annual Fee *Rewards Rate Sign Up Bonus Interest Rates
Pentagon Federal Credit Union Platinum Rewards Visa Signature Credit Card

PenFed Platinum Rewards Visa Signature® Card

Show Details
$0 1.00% None


4.99% for 12 mos on transfers

Apply Now

on Pentagon Federal Credit Union's
secure website

  • No annual fee
  • 4.99% for 12 mos on transfers
  • No foreign transaction fee
Account Details

  • You must be a PenFed member to apply. Not yet a member? It's easy to join!
  • You may be eligible through your employment, association membership, and volunteerism, or by becoming a member of one of our nonprofit partner organizations.
  • 4.99% APR promotional balance transfer rate for 12 Months on Balance Transfers made between November 01, 2014 through December 31, 2014. After that, the APR for the unpaid balance and any new balance transfers will vary with the market based on the Prime Rate, and is currently 9.99%. A 3% balance transfer fee applies to each transfer. This transaction is subject to credit approval.
  • 5 points per $1 on gas purchases, 3 points per $1 on supermarket purchases, and 1 point per $1 spent on all other purchases
  • Automatic enrollment in the PenFed Platinum Rewards Visa Signature® Program
  • Ability to redeem points for a range of rich rewards, including merchandise, travel, gift cards or even Visa® prepaid cards right from PenFed Online Banking.

See complete PenFed Platinum Rewards Visa Signature® Card details

American Express Amex EveryDay Preferred Credit Card

The Amex EveryDay℠ Preferred Credit Card from American Express

Show Details
$95 1.00%* question Earn 15,000 Membership Reward® points after you use your new Card to make $1,000 in purchases within the first 3 months.

12.99%-21.99% Variable

0% for 15 mos on purchases & transfers

Apply Now

on American Express's
secure website

  • 0% for 15 mos on transfers
  • Has annual fee
  • Needs excellent credit
Account Details

  • Earn 15,000 Membership Reward® points after you use your new Card to make $1,000 in purchases within the first 3 months.
  • Earn 50% more points: Use your Card 30 or more times on purchases in a billing period and earn 50% more points on those purchases less returns and credits. Terms and limitations apply.
  • 3x points at US supermarkets on up to $6,000 per year in purchases (then 1x); 2x points at US gas stations; 1x points on other purchases. Terms and limitations apply.
  • You can use Membership Rewards® points to pay for all or part of your flight, prepaid hotel, vacation or cruise through
  • 0% intro APR on purchases and balance transfers for 15 months, then a variable rate, currently 12.99% to 21.99%, based on your creditworthiness and other factors.
  • Terms and limitations apply.

See complete The Amex EveryDay℠ Preferred Credit Card from American Express details

* These values are NerdWallet's estimates and do not represent content provided by or commissioned by credit card providers.
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