A Guide to Pre Paid Debit Cards

Prepaid debit cards were created for individuals with a damaged or no credit history. There is no credit check or chexsystems verification.

The only requirement is that you comply with the US. Patriot Act, which basically says that your identity will be checked. So as long as you are who you say you are, then you will be approved.

These are not traditional unsecured cards. Instead you must first deposit funds into your account and then you can make purchases. However you will not be charged any interest fees, late payment fees, overdraft fees, or over the limit fees instead you can only spend the money in your account.

Where will it be accepted?

It will be accepted over the phone and online. Additionally you can use it world-wide and make purchases such as reserving hotel accommodations, buying gas at the pump, renting a car...

How to deposit money

Direct deposit is the most common form and usually it is free. You can also purchase a money pak and load funds at thousands of retail locations (grocery stores, gas stations, money stores...). You can also transfer funds from a bank account or pay pal account.

Bill Payment

You will be given access to an online bill payment center. This will allow you to pay your bills and manage your money. You can set up one time payment, recurring payments, and future payments. The fees for this will vary we have seen it cost upwards of a $1 and we have also seen it for free.

Fees

Each offer will vary with fees. This is incredibly important feature to research for obvious reasons. You should expect to pay roughly $10 a month; however you should also have the option of no monthly charges if you deposit enough money (we have seen roughly $3,000 a month) or make so many purchases every month. We have seen some cards charge up to $19.99 a month which is simply too much!

Security & Fraud Protection

Your card will be issued as either a Visa or a MasterCard. These cards will be covered by a Zero Liability Policy. This means that should you ever lose your card or have it stolen you will not be responsible for unauthorized purchases. In other words you will not have to pay for purchases that you did not make.

Need Cash

When you need cash, you will have access to millions of ATM locations. Additionally you can also ask for 'cash back' at the grocery store.

In sum, prepaid debit cards are a great alternative if you have made some financial mistakes in the past or just don't have credit. They can save you a bundle of money on check cashing fees and purchasing money orders.

For a full review of our recommended Prepay Debit Card the AccountNow Gold Visa visit us.

Effortlessly Lower Your Credit Card Debt

If you've some credit cards, then you know what an amazing convenience they can be. You don't have to carry cash wherever you go, and you can get points on things that you buy, which can add up to a significant amount of savings. Another way to use them is to help keep track of your monthly expenses, which is great when keeping a budget.

Naturally, every good thing also has a dark side. And when misused, the dark side of credit cards can be pretty terrible. If you've ever gotten behind on your monthly payments, then you know exactly what I'm talking about. It only takes a couple of months, and it seems like you are hopelessly spiraling out of control and there's nothing you can do to help.

For almost every adult today, getting rid of, or at least lowering debt is a number one priority. However, getting out of debt is much more difficult than getting in, as you might well imagine. Doing so requires some significant lifestyle changes that many people aren't willing to face.

If you spend a little less money every month, and pay down your debt bit by bit, you can notice some pretty good effects after a while. You won't be able to buy everything you want, when you want, but you'll certainly be making some headway toward your financial goals.

One way to significantly decrease the time that it will take to pay off your debt is to get a consolidation loan. This takes all your credit card debt and rolls it into one. You usually get much better interest rates when you do this, which means that you can pay your debt off quicker.

If you simply cannot qualify for a consolidation loan, and there's no way you can make any of your credit card payments, then you can file for bankruptcy. This, of course, is an absolute last resort strategy and should be avoided at all costs. The consequences can be financially devastating.

Keeping out of trouble is much better than trying some last ditch solutions. To stay out of financial trouble, make sure you pay your bills on time, and only use your credit cards in case of emergencies. That way you'll stay in good financial shape.

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Common Loan Data

Wouldn't it be great if you found out you had a rich uncle that left you billions of dollars? Of course it would. But that isn't going to happen. The cold hard truth is that there are really only two ways of getting money. Earning it, and borrowing it. When you finish reading this article, you'll know some basic information about borrowing money, so you can better understand the process.

First of all, there are two basic methods to borrow money. The first method is secured, and the second method is unsecured. These are based on various factors, most importantly your perceived ability to pay the money back in a timely fashion.

The first kind, secured loans, are very common. These are when the loan is secured by some kind of object. The most common are cars and houses. If you get one of these loans, and you can't make the payments, then the bank simply takes your car or your house.

An unsecured loan is when you borrow money without putting anything up for collateral. This are much more expensive, meaning that the interest rates are much higher. They represent a much bigger risk to the banks or lending institutions.

One important factor in determining the quality of the loan you get is you credit score. This is determined by how well you've paid your bills in the past. If you have paid them on time, then your credit score is pretty good.

Obviously, the best way to borrow money is with a secured loan and a good credit score. This means you will get very favorable rates. An unsecured loan with a low credit score will cost you quite a bit. If you take out one of these loans, make sure you can pay it back quickly.

If you want to borrow money, make sure that you can pay it back. Otherwise you may suffer some pretty terrible financial consequences down the line.

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