Which of the following statements is not true of prepaid cards?
A) Many fees may be associated with them.
B) Some prepaid cards can be used to withdraw cash from ATMs.
C) They can be useful in rebuilding an individual's credit record.
D) They offer less protection against theft than standard credit cards.

Question

Quizplus · Accepted Answer

Prepaid cards do not help in rebuilding an individual's credit record because they do not report to the credit bureaus. Unlike credit cards, the use of prepaid cards is not reported to credit bureaus, so they do not affect an individual's credit history or score.

Which of the Following Statements Is Not True of Prepaid