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Publicado el 07-27-2010
Reportero: Jason Alderman

Credit 101 for your college freshman

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Jason Alderman

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* A secured credit card linked to an account with the card issuer to which they deposit money. Typically, users can charge up to the deposit amount, which can be replenished. Then, after a period of on-time payments, they can ask the lender to convert it to an unsecured card, or at least add an unsecured amount to the account.
* A prepaid debit card, where you load the card with money in advance and they use the card for purchases or ATM withdrawals. You monitor account activity online or by phone.
* With each, fees and restrictions may apply so shop around for the best terms.



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