How They Work
With a prepaid debit card you must first make a deposit on your card.
Next you will be able to use your Visa or Mastercard to make purchases.
The best part about these cards are they often give you FREE Direct Deposit which will eliminate paying expensive check cashing fees.
Additionally many will give you FREE Bill Pay. This will also eliminate buying costly money orders every time you have to pay a bill.
On average these two FREE features (direct deposit & bill pay) will save the average customer $317 annually.
How nice it would be to have an extra $300 in your pocket right now?
How to Qualify
It does not matter how many mistakes you have made in the past. It doesn't matter how low your credit score is.
The vast majority of prepaid cards give you guaranteed approval. There is no credit check or chexsystem verification.
If you are in chexsytem and are unable to open a checking account this is a great alternative. It will do everything a checking account can and more.
Where Is It Accepted?
These cards are usually issued as a Visa or MasterCard. It is accepted everywhere you see the Visa or MasterCard logo (depending on which one you have).
Additionally it is accepted over the phone and online. You can use it to pay bills and make purchases.
It can also be used to; rent a car, book a hotel, purchase airline tickets, and much more.
Saves You Money
Not only will prepaid debit cards save you money on check cashing fees and buying money orders but you will never be charged any interest rates.
In addition there will never be an overdraft, over the credit limit, or late payment fee.
How To Deposit Money
Most give you FREE direct deposit. You can also use many cash stores; Western Union, Money Gram, ...
Additionally you can purchase a green dot money pak or use Visa ready link. And you can stop by many retailers including; Walmart, CVS, RiteAid, Walgreens, and many more.
What If You Need Cash?
You can use the cash back option at most retail stores. Also your can access cash just by stopping at an ATM.
Which Card Is The Best?
The prepaid Account Now Visa card is a far superior card than any other on the market.
This is because it gives you FREE Direct Deposit & FREE Bill Pay. Additionally you get FREE Activation a $19.99 value.
Also you can use a FREE service called Credit Builder. This service will record the payments you make using bill pay to a credit reporting agency.
This will provide you with a method to prove credit worthiness to future lenders.
This card has also created a line of credit (iAdvance). This means that if you need cash for any reason you can get a loan.
This information will be reported to a major credit bureau - giving you a way to build credit.
And this card is covered by Visa's Zero Liablitly Policy. This means if your card is ever lost or stolen your money is protected.
