| People often spend a majority of their time worrying | | | | debit card. It may bear the logo of Visa or MasterCard, |
| about money and being in debt. This is of course with | | | | but truth is this is not a credit card; there are no annual |
| good reason as being in debt is not a good thing and | | | | percentages or anything. The only money that is being |
| will reflect very badly on your credit score. Your credit | | | | spent is money that you already have and you cannot |
| score is a three digit number that is calculated from a | | | | spend more than that. However while it cannot help |
| credit report. The credit report shows all outstanding | | | | your credit score it can in fact hurt it. If you were to |
| bills that you may have with a creditorsuch as a credit | | | | over draw on what you have in the account and are |
| card company or even a utilities company. Any unpaid | | | | unable to pay it back this would in turn be submitted to |
| bills you have will be on there. The longer they sit | | | | a credit reportingagency and would be held against |
| unpaid the worse it will be. | | | | your score. |
| There is however ways that you can repair your | | | | The same can be said about a prepaid debit card |
| credit score such as paying your bills on time, a list of | | | | that you buy in a store; again it only holds what money |
| ways to increase your credit score can be found at | | | | you put into it so therefore it is not a real credit card. |
| But Also getting all your past debts settled is a god | | | | The only difference between the two is that a prepay |
| way to stop the negative fall of your score. All you | | | | card from the store cannot be over drawn therefore it |
| then have to do is work on keeping up with your | | | | cannot be put negatively to your score. |
| bills. Once your score is at a normal level getting a | | | | So if you find yourself with a bad credit score and |
| credit card and keeping up with the payments every | | | | want to try and make it better do not go out and get |
| month will help build your credit score back up to a | | | | a debit card just for that purpose because all that can |
| good number. | | | | happen is a bad score. You won’t be building but |
| One misconception to look out for however is a | | | | rather breaking down your credit. |