Prepaid Credit Card with Small Available Limit

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Posted: Wed Oct 13, 2004 10:17 pm
Post subject: Prepaid Credit Card with Small Available Limit
DSharp
Date: 1/16/2001 2:23 pm CDT

I want to find a VISA/MASTERCARD/DISCOVER card vendor that will allow me to put a small credit limit maximum on it in order to feel more comfortable sharing the account with our 16 year old daughter. She would be using it to make weekly gasoline purchases for her car (she and I are each paying for 1/2 of the gasoline since she is running errands and carting her siblings around for the family as well as her own activities). I applied for a separate VISA card account with both names on it but the vendor will not let me go to a credit limit of just a few hundred dollars. Is there a card that will allow me to limit the credit maximum to $3-500 dollars?

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archive
Posted: Wed Oct 13, 2004 10:17 pm
Post subject: Prepaid Credit Card with Small Available Limit

Board Monitor- NK
Date: 1/16/2001 4:15 pm CDT

You should be able to put a maximum of $500 on a standard card. I would open the account first and then have the credit line reduced. When you have it reduced also tell them you don't want any automatic increases in the credit line.

Kat
http://creditexpert.tripod.com/home.htm

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archive
Posted: Wed Oct 13, 2004 10:17 pm
Post subject: Prepaid Credit Card with Small Available Limit

DSharp
Date: 1/16/2001 4:44 pm CDT

Thanks for your suggestion. I guess I need information on how to apply for a "standard card" that will allow a $500 credit limit instead of the "platinum card"? I did as you suggested, "applied first" but got sent a platinum card which has a minimum credit limit of $5000. Is there a certain vendor who offers this type of card (versus others who look at your credit rating and send what they think is best)? Any help with this is greatly appreciated. DLS

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archive
Posted: Wed Oct 13, 2004 10:18 pm
Post subject: Prepaid Credit Card with Small Available Limit

Board Monitor - CA
Date: 1/16/2001 7:10 pm CDT

DSharp,

Take a look at our Sept. artile that deals with the subject of teens and credit. I think you may find it helpful. Here's the link:

http://www.cardratings.org/sept00new.html

Best Regards,
Curtis Arnold
CFCCT P.R. Director
http://www.cardratings.org