We all know that having a credit card provides a certain convenience.
Sometimes there is too much convenience resulting in over spending, but lets save that topic for another article.
For this article let's focus on the question, whether it is possible to get a credit card without having a bank account? The simple answer is, "yes" however it does come with strings attached.
Generally speaking these types of cards are pre-loaded.
In other words what you put in is what you can take out.
For example if you pre-load it with a $1000 then you're credit limit will be $1000.
So when that runs out you will have no more spending money.
There are advantages and disadvantages relative to this type of credit card.
The disadvantage is that often times we get a credit card to borrow money however in this case you have to have the money first.
The advantage is that it restricts your spending based on the money you have.
With that you get the convenience of a credit card which for example can enable you to rent a car at an airport.
There is also the advantage that you can establish credit if in the event you have no credit or if your credit is bad.
The other advantage is that it forces you to budget your money and Lord knows based on the current economic environment that would not necessarily be a bad thing.
Last but not least make sure you understand what kind of deal you are getting.
Avoid cards with fees and upfront charges if you can.
Also make sure there is no obscene interest rate since after all it will be your money?