prepaid credit cards that help build credit

[speckledfrog]

Can you recommend one? I'm helping my mom with her finances and we've moved from phase 1 - digging out of the hole and into phase 2 - building credit. I don't think a regular credit card is the way to go yet and so I want to look into the prepaid options. Any info would be great. Thanks!

[Deleted]

I have no personal experiences with them, but US Bank, Capital One, and Wells Fargo have secured credit cards. If you do a search for the bank name + secured card you will find them. Make sure you get a secured card and not just a prepaid card, they work the same but a secured card will report to the credit bureaus. She also may be able to find some local banks that offer secured cards. Make sure you check the fees carefully.

[ellipses84]

DH got one through Wells Fargo when he was rebuilding his credit 4 years ago and they just switched it to unsecured (they may do it sooner if you ask).

[takeonyou]

You can go on BankRate.com and find a card that suits your needs and apply right there online.

[dr.girlfriend]

If you trust your mom enough, you can make her a joint user on your longest-standing account. It will immediately give her all that good credit history. You don't even have to give her an actual card, you just both sign a form that you are both responsible for that debt. That's how we dealt with DH's lack of credit history...I added him as a joint user to my card, and then he was able to apply for a card of his own.