Remove Accrued Interest Remove Banks Remove Credit Unions Remove Retail
article thumbnail

What Are Prepaid Debit Cards?

Credit Corp

Instead of depositing money into an account at your local bank, you load money directly onto a prepaid debit card. This may help prevent hefty overdraft fees that some banks and credit unions charge. It’s important to note that prepaid debit cards don’t help build your credit. How Can You Get a Prepaid Debit Card?

article thumbnail

Lawmakers take aim at credit card interest rates, fees as cardholder debt tops $1 trillion

Collection Industry News

Total credit card debt topped $1 trillion in the second quarter of 2023 for the first time ever. The average interest rate for all cardholders jumped to more than 21% in August, the highest on record, according to Federal Reserve data. There are 70 million more credit card accounts open now than in 2019, it said.

article thumbnail

How to Get Your First Credit Card

Better Credit Blog

Gas Station or Store Credit Card: Some gas station chains and retailers, like Target, offer store credit cards that don’t require an established credit history. How to Apply for a First Credit Card. If you’ve chosen a bank-issued Visa, you could apply in-person at a local branch if you’d prefer.