Posts Tagged ‘prepaid credit card’

1. Getting away from it all with a fast cash payday loan

   Posted July 23rd, 2011

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   You may not always be lucky enough to be able to arrange your holiday for just after you get paid. If your payday falls midway through your holiday, then a fast cash payday loan can provide you with a bit of extra spending money when you need it before you go, to take care of those last minute extras that always seem to crop up.

   Your holiday may be all paid for but you may still need to stock up on things such as:

   • aftersun;

   • sun cream;

   • new sunglasses;

   • a few books for reading around the pool etc.

   Of course, you could buy these things when you get there but who wants to spend their precious holiday time shopping?

   If you add these costs to the fact that you may need to pay bills that you know are going to crop up while you are away and potentially have to cover airport parking charges and taxis etc, then you could find that it may be difficult to make your money stretch as far as it may need to.

   A fast cash payday loan may be able to help you cope by providing you with a modest cash injection of perhaps £100-£250 until you next get paid.

   If you’d like the chance to spread the costs over a slightly longer period then there may be the option to pay the advance back on your next but one payday. You may wish to bear in mind that the longer you borrow the money for, the more you may typically pay in interest.

   If you already have an active prepaid speed-e-card then you can arrange for a cash advance from speed-e-loans to be loaded straight onto it. As a speed-e-card is backed by MasterCard (a globally recognised brand) you could then just take it with you on holiday and withdraw money at a local ATM in the local currency, as and when you need it.

   That may be a bit safer than taking all of your holiday spending money with you in ready cash.

   For many people, their annual summer holiday is the highlight of the year. Using a fast cash payday loan may take the hassle out of last minute purchases and help make it a holiday to remember.

   Tags: fast cash payday loan, instant cash advance, instant payday loans, prepaid credit card, prepaid debit cards, prepay credit card
   Posted in payday loans, prepaid cards | No Comments »

2. The prepaid credit card – what exactly is it?

   Posted September 21st, 2010

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   Well, it might be tricky to define something that doesn’t exist! In fact, the prepaid credit card is more accurately called simply a prepaid card. This is different to a credit card.

   What is a credit card?

   The credit card has been around in the UK since the 1960s but it still sometimes causes a little confusion.

   Basically, the card provider will allocate you a credit limit – that is, to all intents and purposes, simply a permanent loan. Every time you use your card, you draw down a part of that loan.

   In theory you can avoid interest charges on the money you’ve spent if you pay it all off each month end. In practice, many people find this difficult and the card provider will charge interest on any outstanding balance.

   You will need to make a minimum payment towards the debt each month if you can’t afford to pay it all off.

   Getting a credit card typically involves having a job and regular income; having a good credit history; and being a homeowner or long-term tenant.

   Due to their potential links to accumulated debt, credit cards have become a little controversial in the social sense over recent decades.

   The prepaid card

   Sometimes quite erroneously called a prepaid credit card or prepaid debit card, this type of plastic works completely differently.

   It can be used to pay for things through various outlets, machines and the internet.

   It may be physically indistinguishable from a credit card but it has one big difference – it carries no credit and debt risk with it.

   That’s because to use it, you have to load money onto it in advance. Typically that can be done through a PayPoint outlet although some providers may be able to offer an e-bank account that works with the card meaning you can load the card electronically.

   As no credit is involved, typically no credit check will be required before a prepaid card is issued.

   So what?

   The prepaid card may offer some significant attractions including:

   • being able to shop and pay electronically without the risk of debt;

   • getting a card even if you have significant credit history issues;

   • you can control your spending by loading only limited amounts on the card at any one time.

   The prepaid card is, therefore, not a prepaid credit card. It’s very different!

   Tags: prepaid credit card
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3. Holiday spending made easy with a prepaid credit card

   Posted July 21st, 2010

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   First of all, is a prepaid credit card really a credit card? The short answer is that a prepaid credit card is not actually a credit card at all.

   It is called a credit card because, in terms of physical use, you can use it in exactly the same way as you would a typical credit card.

   For example, you can use it at home or abroad wherever you see the card logo (eg MasterCard) displayed:

   • to pay for internet and telephone purchases;
   • in traditional shops and outlets;
   • to withdraw cash at ATMs.

   Control

   What you can’t do with a prepaid card, which can be sometimes be all too easy with a credit card, is to run up debt. That’s because a prepaid card only allows you to spend what you have previously loaded onto the card.

   You can resist the temptation of that spur of the moment purchase because, if there aren’t sufficient funds on the prepaid cash card, then the transaction won’t be approved – it’s as simple as that!

   As well as helping you budget, a prepaid credit card could also be a very convenient way of managing your own or your children’s holiday spending money.

   Just load your card with your holiday spending cash before you leave and you don’t have to worry about changing up cash. You just use your card when you get there.

   Protection

   A prepaid card may also be a whole lot safer than carrying large sums of cash around.

   That’s because it’s also PIN protected. If you lose it, one quick phone call can typically block the card and safeguard your money.

   Check first

   One point to note, however, is that if you intend to rent a car while you are on holiday, some rental companies may not accept prepaid cards as payment for the rental even if there are sufficient funds on your card.

   The reason is that typically an actual credit card is needed – just in case they need to charge additional expenses or an excess to your card after an accident.

   It may be worth checking with the rental company in advance what their position is on the use of prepaid cards.

   Whether you are trying to monitor and manage your spending or just seeking a flexible way of carrying cash around, a prepaid credit card may be just what you’re looking for.

   Tags: prepaid credit card
   Posted in prepaid cards | No Comments »

4. The prepaid credit card – what is it?

   Posted April 15th, 2010

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   The prepaid credit card is not really a credit card at all, but a prepaid card. However, it is often called the former due to its similarities of use with a credit card.

   The traditional credit card

   The ordinary credit card has been around a long time now and is probably well known to all.

   To all intents and purposes it is a form of credit that you can spend through the electronic use of your credit card.

   The conventional card typically:

   • has a pre-set credit limit;

   • is offered based upon your earnings level and very probably your credit history;

   • will incur interest charges for you if you do not pay back the spending at the end of the month.

   Some credit card use may be controversial and has been the subject of speculation regarding its affects on encouraging debt.

   The prepaid credit card

   This is an entirely different approach.

   These prepay cards work on the basis that you place money onto them. That can be done via a PayPoint outlet or via a bank transfer from your own bank account. If you have an active Speed-e-card, a payday loan from Speed-e-loans can be used to top up your card.

   Once a prepaid card has been loaded with an amount, you can use the card as per a normal credit card but you can only spend up to the amount you’ve loaded onto it.

   Advantages

   This form of card means that:

   • typically you can’t run-up debts on it;

   • as there are no credits or debts involved, the providers typically don’t need to make credit checks on your background;

   • may be useful for people who have been declined a credit card previously;

   • as your card is PIN-protected, it’s safer than cash;

   • you can use it at many ATMs both in the UK and abroad;

   • you could give it to older children for controlled spending.

   Some providers of these cards may also offer a supporting e-bank facility. This means that you could have your salary paid into this account and then download portions of it directly onto your card as required.

   Using

   In the modern world, it’s becoming increasingly difficult to survive without having a method of paying that involves a plastic card.

   Paying via the internet or using automated ticket machines are just two examples of where cash and cheques may prove to be useless.

   A prepaid credit card may allow you to take advantage of the modern information technology based society without the potential hassle and temptation to overspend often associated with a conventional credit card.

   Tags: prepaid credit card
   Posted in prepaid debit cards | No Comments »