If you're in the hunt for a credit card, you've probably searched everywhere and with so many type of credit cards out there, it's hard to determine which credit card best suits your needs. Today, we're going to focus on a prepaid credit card.

When you think of a prepaid card, you're probably thinking of a card you give someone for Christmas as a gift but this isn't the type we are going to talk about. Instead, these type of cards are designed for those that have bad credit. They work like a gift card but instead, they are in your name and work just like a Visa or MasterCard.

A prepaid credit card sounds like a joke when it comes to your finances but believe it or not, there are cards out there that actually report to the main credit bureaus. What does this mean for you? This means that your credit will be reported and this will help you build your credit score. This way, in the future, you'll be able to get that home mortgage and loan you want.

How do I apply for one?

Applying for one is fairly simple. Many banks on the market offer these types of cards. There are things that you need to look out for though when you do apply. There are going to be maintenance fees, credit limit limitations and some cards will only allow you to use them at particular places.

A maintenance fee is what will be charged to you no matter how you use the card. Make sure that you read the terms and conditions when you want to find out more about this. This will either be charged weekly, monthly or even yearly. Sometimes you'll be able to find a card on the market that doesn't even have a fee like this so make sure you look for those too.

When it comes to credit limitations, this means that some cards may cap you at how much you can deposit into your account. There are accounts out there that will give you interest on your balance, so look for those too. For example, some cards may say that you can only deposit a maximum of $5,000. This will be your credit limit. If you can find a card that gives you interest on your balance, this is even better.

When it comes to applying for a card, make sure that you always look for a card that has a major card logo like Visa, Mastercard, etc. The reason you'll want these main logos are because you'll want to be able to use them wherever these cards are accepted (which is just about anywhere.)

Prepaid cards are great for those that are looking to get a card regardless of their past. Just about 99% of the people that apply are approved and even if you don't have bad credit, these cards are great to control your debt. If you're bad with your spending when it comes to credit cards, these can help you out a ton!

Does a MasterCard gift card leave any trail?

I would like to purchase a rosary online using a Mastercard gift card that I got for my birthday a couple months ago. However, my parents are quite anti-Catholic and somewhat anti-religion. Is it possible that they could trace this purchase back to me, even if they never see the rosary or the package that it comes in?

PS- I have no clue what category this should go in, so I hope the first suggestion is right.

Answer
As long as your parents don't have your gift card's account number and security code (located on the back of the card) you should be in the clear.

My best advice is to purchase it online at a public computer (ie not from the home computer or one your parents have access to). Next, send it to a friend's house (assuming you have a Catholic friend). Finally, check out what you bough PRIOR to destroying the shipping receipt (just encase you want to return it if there is something you don't like about it). All that's left is smuggling it home or where ever you have planned for it.

I wish you the best of luck, and I'm sorry for your situation.