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Prepaid Legal Credit

Posted on March 2, 2010.
Prepaid Legal CreditIs it legal for my parents to sign for a prepaid credit card, then give it to me?

I mean like there is in the name, then give the card to keep me?

I do not think it is "illegal" but it could be contrary to the terms and conditions of the credit card company. Tell your parents to see if they can add you as a user "allowed" to their accounts.

I've never heard of a prepaid credit, but I heard of a debit. Usually, they are using Visa or Mastercard, if that's what you mean by credit card. Yes it is legal as far as I know. They can track your spending and the burden of money there every time you or they choose. It's like a gift card, but just different. There may be a small fee for the card dormancy fees if you do not use it for some time. I suggest opening a bank account because you have much more security, but the prepaid cards are also beneficial because they are great to have laying around when you're low on cash. Hope this helps!

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