American Express Prepaid Card
American Express Prepaid Card
While prepaid cards are often criticized for charging outrageous fees, there are a couple good options out there for people who don't qualify for credit cards.

Like most prepaid cards, the American Express Prepaid Card requires you to fund the card with your own money and it does not help you build credit. But John Ulzheimer, CEO of, finds it to be the most "fee friendly" prepaid card on the market.

That's because there is no annual fee, monthly fee or transaction fee. In fact, the only fee the card charges is a $2 ATM usage fee. Compare that to a card like the RushCard, which charges one-time fees of up to $14.95, monthly fees of up to $9.95 and a fee of up to $1 per transaction, and you've got yourself a good deal, said Ulzheimer.

And, while American Express doesn't report card usage to the major credit bureaus, it creates a financial history internally by monitoring your card usage. If it notices that you are using the card frequently and loading it consistently, it may invite you to apply for one of its traditional credit cards.

By Blake Ellis @CNNMoney - Last updated April 30 2012: 12:32 PM ET
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