 TITLE: Secured Card or Prepaid Card: Which Is Best For You? CONTENT: If your goal is to build a credit history, a secured card is the clear choice here. If you make your payments on time and carry little, if any, debt, then you'll add positive information to your credit history and likely improve your credit scores.\nBut if you simply want an alternate method of payment, a prepaid card may be a good option. With a prepaid card, there will be no security deposit, and you'll immediately have access to all the funds you place into your account. Also, you can never go into debt or incur interest charges with a prepaid card.\nA prepaid card can also be a good way to budget: The amount you load onto a prepaid card can be designated for a certain time period, like a week or a month, and once you've spent it, you are forced to stick to your budgeted limit. Some parents might choose a prepaid card for their children if they want to offer them a set allowance.\nPrepaid cards and secured credit cards look a lot alike, and can both be used to make purchases, but that's where the similarities end. By understanding the strengths and weaknesses of these two methods of payment, you can choose the right one for your needs. END