The difference between a credit card and prepaid debit card is that with a credit card you are borrowing the money to pay back later, while with a prepaid debit card you are subtracting your own money being held at the financial institution.

Most people realize that it's almost impossible to get by without a credit card of some sort. Yet, there are millions of American families that have no bank account and no credit card. They often pay their bills either in cash or by money orders. For these people, a prepaid debit card may be the answer.

A prepaid debit card looks just like a regular credit card and normally carries a credit card logo such as Visa or MasterCard. Retailers accept these just like any other card. The difference is at the time you use the card, it is instantaneously deducted from your funds on deposit with the your bank.

Advantages of a prepaid debit card are that it's safer than carrying cash, it is accepted throughout the world where the credit card logo is displayed, and you can use it to pay bills by phone or online. You can also keep track of your funds for free on the internet. Prepaid debit card offers can include rewards programs and overdraft safety.

Obtaining a prepaid debit card is easier than applying for a credit card, especially with an easy online application. The approval is guaranteed as there is no credit check and no employment is required. After applying for a prepaid debit card, you can receive your card in as little as three days.

There will be billions of dollars spent this year using prepaid plastic, including gift cards and renewable debit cards. To those who dont want to worry about owing money or paying a bill, and still others who have less than perfect credit, a prepaid debit card may be the ideal choice.