Prepaid credit cards are a relatively new financial product in Canada, the first appearing in 2005. While prepaid credit cards are affiliated with Mastercard and Visa and bear their logos, they aren't actually credit cards. Prepaid credit cards are essentially electronic cash. You load funds onto the card and spend it doing the same things you might do with credit card such as purchasing things online or in person in a store.
The catch is of course that there are fees associated with using the funds which you can compare on the next page. One nice benefit is that Visa brand Canadian-issued prepaid cards can be replaced if lost or stolen which makes them good cash alternative.
But because you are not borrowing money or opening a credit account, credit checks are not required however reloadable cards require that you provide confirmation of your identity when applying. Non-reloadable cards however are anonymous unless you decide to add personal information to the online account management.
This chart shows the relative percent of clicks on links in the table above. Some of the credit cards in the table above were recently added so they haven't yet begun to show up as of early May 2012. This chart will be updated to regularly so keep coming back to see what card is most popular.
For now it looks like an overwhelming percent of visitors to this site are interested in the Bank of Montreal Mosaik Mastercard. A distant second popular credit card is the Money Mart Titanium Mastercard. The remainder of the credit cards are more or less similar in relative popularity.
