 |
7 Compelling Reasons Why A Prepaid Debit Card May Be Just The
Financial Tool You Need
Prepaid debit cards are great financial tools and may be just
the financial tool you need. Here a seven compelling reasons
why:
1. A prepaid debit card helps you stay out of debt because the
money you spend is your own. Credit cards encourage you to spend
money you don't have, thereby giving you a false sense of
reality. In truth, by using a credit card what you're doing is
borrowing money from someone else (your card provider) to
purchase the things you want. However, with a prepaid debit card
the money you spend is your own.
2. Prepaid debit cards helps you control your spending habits,
because in most cases you cannot spend over the amount you have
in your account.
3. A Debit card can be the perfect way to pay your freelancer
if you are a small business owner. Simply issue your freelancer a
card and load funds onto the card whenever you want to pay them
for a completed project.
4. You can use a prepaid debit card to send money to your
loved ones abroad or to your college age children away at school.
Some debit cards allow you to have two cards for one account and
in this case you will be able to keep one for yourself and send
the second to your loved one. Once they have received their card
you can loaded funds to your account and call the other person to
tell them how much money they can access from the nearest ATM or
POS merchant. Their money is instantly available worldwide. It's
a cheaper and faster alternative to expensive money transfer
companies.
5. Prepaid debit cards are a safer way for employees to
receive their salaries. Statistics indicate that in the United
States over 3 million payroll checks are stolen each year.
However, with the use of direct deposit combined with a payroll
debit card, there is no worry of that ever happening. Also,
through the use of direct deposit and a payroll debit card, you
will have immediate access to your wages, 24 hours a day, 365
days a year - no matter what part of the world you're in. You
will also save time by having your salary deposited to your
payroll debit card - no more standing on long lines each pay
period in the bank to cash your check.
6. A debit card is a convenient and affordable solution for
the unbanked. Over 10 million households in the United States
alone do not have bank accounts. In cases like these debit cards
can serve as bank accounts. They can be used to access cash or
make purchases at merchants such as gas stations, grocery stores
or convenience stores. Additionally, debit cards can be just as
useful as regular Mastercards or Visas because in many cases they
can be used to purchase goods and services not only in shops but
on the internet, and via mail order and to withdraw cash at home
and abroad from ATMs (cash dispensers).
7. Prepaid debit cards are easier to apply for than credit
cards. Often, they require no bank account, no employment
verification, no credit checks and no security deposit. If you've
been turned down for traditional bank issued credit cards because
of poor credit, bad credit or no credit at all, try applying for
a prepaid debit card. Some prepaid debit cards have a built in
credit reporting feature which make it easier for people with bad
credit to rebuild their credit histories by reporting their
monthly payments to the major credit reporting bureaus.
For more information about Prepaid Debit Cards, check out THE
definitive guide to prepaid debit cards of all kinds including:
prepaid mastercards, payroll debit cards, debit gift cards,
virtual credit cards, offshore, US and international debit cards,
at: http://www.debit-card-guide.com
Permission to reprint with full attribution.
MORE RESOURCES:
Credit - Google News
|
|
|
RELATED ARTICLES
The FICO Score
Misconceptions
There are many misconceptions about credit scores out
there. There are borrowers who believe that they don't have
a credit score.
Avoiding College Credit
Card Traps
Congratulations college freshman! You're about to embark on
one of the most exciting times of your life. By now your
parents, siblings, and friends have offered you all kinds
of advice on how to make your transition to college
smoother - how to get along with your roommate, what
classes to take and which ones to avoid, where to find the
best off-campus food, and how to stay safe on campus.
Debt Collection
Agencies
Debt collection agencies are often a viable option for
receiving payment on overdue bills. Here you can earn how
debt collection agencies work and what to look for in
reputable debt collection agencies.
Identity Theft - Guard
Your Childrens Social Security Numbers
Identity theft is a growing concern among Americans, and
rates among the top five complaints received by states'
Attorney General's offices. A stolen identity can lead to
tens of thousands of dollars worth of debt in the victim's
name and it can take years to completely undo the damage
done to the victim's credit report.
Credit Report - Look Out
for Your Debit Report, Too
Most consumers are aware that there are companies that keep
track of their personal financial transactions -
installment loans, mortgages, credit card accounts,
bankruptcies and judgements. These items are assembled by
the three main credit bureaus into a credit report, which
is available upon request by lenders, employers and anyone
else with whom a consumer might do business.
Negotiating Rates with
Your Credit Card Company
Ok, let's face it, everybody hates high credit card rates,
and they drain hard earned money out of your wallet. As a
valued consumer, it is apparent that you learn how to
negotiate to get the absolute best rate that you possibly
can.
Credit cards
If gold medals were awarded for marketing consistency, the
credit card industry would be the Sarah Hughes of the
business world. Major players Visa and MasterCard, who have
maintained their steady rates of spending and commitment to
their positioning platforms for years, will stick to their
established routines this year.
How You Can Help Prevent
Identity Theft
How can I prevent Identity theft from happening to me?
Never leave your receipt or slip in the ATM or gas pump.
Pay attention to your habits, lock up or organize and file
your bills, and bank statements.
ChexSystems: Who They
Are and How it Affects You
ChexSystems is a company that maintains a subscriber
membership service used in the banking industry. The
members consist mainly of Banks, and Credit Unions, but can
include other types of Financial Institutions.
Rewards Cards: Are They
Worth It?
Virtually all consumers will have a credit card at some
point in their lives. Is this an understatement? Probably,
as most consumers carry multiple credit cards.
Credit Reports: Find out
why you have been refused Credit.
You may already have 2 or more credit cards in your purse
or wallet and you have just applied for a third and been
declined. This can be very frustrating considering you pay
off your other credit cards regularly and you are
continually having your credit limit raised.
Is Your Credit Score
Being Held Against You?
Credit Scores That HurtIs your credit score being held
against you?More and more the staples of life depend on
your credit score. Your mortgage, insurance premiums,
employment opportunities and even your landlord may be
using your credit score to determine your financial future.
Credit Card Security
Advice
Which of the following is the biggest threat to your credit
card security?a) Shopping online with a credit card b)
Shopping in a real store with your credit card c) Ordering
something over the phone with your credit cardThe answer
may surprise you. It's b - shopping in a real store with a
credit card.
How Do I Establish A
Good Line of Credit?
A line of credit, roughly defined, is the amount of credit
that can be given to a borrower from a lender. Usually a
contract or note of promissory is exchanged between the two
parties, in which both parties agree to the line of credit
amount, as well as the annual interest due to the lender at
the end of the term.
Credit Report And
Correction Techniques
The three major credit bureaus, Experian, Equifax and Trans
Union are similar and feature a "Credit Score", which is
created from credit report data submitted to them about
you. Their report includes where you live, your bill-paying
habits, and bankruptcy and arrest information.
Special Credit
Information for Married Couples
If you are married, establish separate credit accounts.Try
to finance real estate in just one partner's name to
increase your investment financing potential.
Simplifying Your Search
For a New Credit Card
Today, selecting the proper credit card can be a bit
confusing to say the least. There are literally hundreds of
offers from the major institutions eagerly competing for
your business.
5 Things Your Credit
Card Company Keeps Quiet About
Credit Cards can bankrupt you if you let them run away from
you. The various Credit Cards companies are in it for
profit so they will not generally alert you to things you
can do to save yourself money.
Beware of Bogus Credit
Repair Companies!
So-called "credit repair" companies claim they can remove
negative information from credit reports. Advertising as
"Credit Advisors," "Credit Rating Correction Services" or
"Credit Consultants," they trumpet variations on this
message: "Turned down because of bad credit? We can help!"
Many of these companies charge hundreds if not thousands of
dollars for the promise to "clean up" bad credit reports.
How To Repair Your
Credit Report
A credit report is run on a buyer when he or she needs to
buy something that will take a long-term loan, such as an
automobile or a house. The credit report can come from one
of three agencies - Equifax, Experian, and Trans Union.
|
|
