Prepaid credit cards have been around for over ten years now, although they are just now coming into the spotlight. Prepaid credit cards are basically credit cards backed by major credit card companies that offer you the ability to deposit money onto the card and then use it for purchases. You are not allowed to spend anything more than you have deposited in most cases. It is a great way to teach students good financial responsibility. There are a lot of advantages to prepaid credit cards, and only a few disadvantages. However, before committing to any prepaid credit cards, you should be clear on the company’s rules and fees.

No Credit Checks

One great thing about prepaid credit cards is that there is usually no credit check required. This makes prepaid credit cards ideal for those with lousy credit scores or even those without any previous credit to build their credit. If you have bad credit, this is a nice way to slowly rebuild your credit score. Creditors will see the card on your report and see if you use it responsibly and often.

No APR

Many prepaid credit cards offer no APR on money deposited and your purchases. Some do charge high interest rates on your balances however, so beware. There is no reason you should pay a monthly interest rate on money you have deposited or on purchases. Therefore, you should certainly look for cards that offer no APR.

Fees

Just like the bank, some prepaid credit cards charge fees on your transactions. Some prepaid credit cards will charge you ATM fees or cash withdrawal fees. These are the most common fees with prepaid credit cards. Some cards however may try to charge you a monthly usage fee. Try to get a
prepaid credit card that does not charge this monthly fee. They exist out there, so just search. You will save yourself a lot in the long run by avoiding a monthly fee on your prepaid credit cards.

Direct Deposit

Prepaid credit cards often have the ability to allow you to directly deposit your check onto your card. This eliminates the need to go to the bank each week. This is the perfect option for the cardholder that uses their prepaid credit card for everything. Take advantage of these convenient options, as they can save you time. The truth is, prepaid credit cards are responsible ways to spend money. They give you the option
of using your money anywhere credit cards are taken without leaving you with a high monthly bill.

Prepaid credit cards can also offer reward programs and other incentives similar to regular cards. They are convenient and low risk. As with any credit card, make sure your prepaid credit cards have terms which with you agree. It is better to read everything before rather than later.

The Bancorp Bank issues the Vision Premier prepaid visa. With this card it means that you load or deposit money onto it in order to use it.

This can be done by direct deposit and PayPal as well as by other means. You can also transfer funds directly from your checking or savings account to the card.

The amount of money which has been transferred to the card minus purchases, fees and other transactions equals the amount available to be used for transactions.

It is only as useful, or valuable, as the amount of money you have loaded onto it. It has many features.

There is no opening minimum, no application fee, and no annual fee. There is no loading fee when you use direct deposit, PayPal or PreCash.

Likewise, there is no weekly maintenance fee when you use direct deposit or when you have 15 or more transactions per month. However, there is a $1.95 fee for ATM use as well as a $.95 fee for each ATM balance inquiry (You can sign up for free balance alerts which are delivered to you either via email or your cell phone).

The weekly maintenance fee is $.95 if you do not use direct deposit or if you have fewer than 15 transactions per month. Additionally, there is a one-time activation fee of $9.95; however, with the mail-in rebate this becomes zero.

If you want to use Vision’s live agent service, be prepared to pay a $1.95 fee.

A few things should be noted:

1) This is a debit card only (not to be confused with a credit card)

2) No credit check is required to obtain this card, approval is guaranteed

3) There are never any interest or minimum balance fees; and

4) This type of card will not be reported to credit agencies as a credit card.

Some of the good points regarding this card is the ease of obtaining the card (approval is guaranteed), it is convenient for making online and phone purchases, it is less expensive to use than check cashing services, you receive the same Visa Zero Liability policy as with a regular credit card, and interest is not charged.

Be aware that the policy does not cover some transactions. However, there are some bad points as well.

There must be money loaded to be able to use it and, if you need to use an ATM machine to check your balance, you will be charged a $.95 fee. Therefore, you must always be aware of the balance.

Additionally, it will not help to improve your credit rating like a traditional or secured card. Also, be careful of additional fees which are listed in the terms and conditions. Likewise, be aware that if you request a retailer to load money, you may be liable for additional fees which the retailer may charge.

However, if you are looking for a card to use to easily make purchases, this is the way to go. Also, if you have a tendency to overspend when you are shopping, this will help you by allowing you to spend only what is loaded. Paying no interest fees is also a nice feature!

Are you in need of cash to help you through a tough time? Was there an unexpected emergency or expense that you need to deal with? Maybe you are in the military and you just need a few hundred dollars till you get paid again. Whatever your reason is, if you need money and you need it fast, then the 1 hour cash advance option could be right for you. Here is what to expect.

You can get a cash advance within an hour if you actually go to the cash advance or payday loan store. It is very difficult to get approved within an hour and get your loan online, but you can get your loan online the same day if you apply early enough, fax in your documents quickly, or do a faxless payday loan online. However, if you just go to the cash advance store you will be able to get your loan faster.

They will want you to have a voided check, proof of your address, a photo ID, and a few recent paycheck stubs. They will usually accept a phone bill or a utility bill that is in your name for proof of address and if you do not have one of those they will probably accept another piece of mail that you have received at that address. They will accept a drivers license, state ID card, or a military ID for your photo ID.

Typically they will call and verify your employment and your banking information. It helps if you receive direct deposit, but it is not the most important thing in the world. They will approve you for a specific loan amount, based on your income, between $100 and $1,500. Then, you just apply and walk out the same day with your cash. These 1 hour cash advance loans are really that simple.

Cash advance payday loans are instant cash borrowings granted to the borrower without any form of teletracking or credit check. This type of a loan is a boon to those who have exhausted all other sources of borrowing. However, a payday cash loan should be taken only in case of emergencies or to meet any type of unforeseen expenditure. The value of such a loan should never exceed $1000, as the interest rate on such loans is very high.

Am I Eligible?

There are a number of financial institutions providing these instant loans. One can apply for such loans by filling up a simple online form. You must be at least 18 years of age to be eligible for such loans. Also, your bank account must allow direct deposit. It will allow your creditor to transfer money directly to your account. You will also have to provide the following data about yourself in order to avail cash advance payday loans:

Name Social security number Residential address Present employment ID Current bank account number

Some financial institutes might ask for more details. However, these are the minimum details that you have to provide while applying for the loan.

Beware Of Fraudulent Institutes

While applying for cash advance payday loans find out all the details of the financial institute lending you the money. Otherwise you might just end up giving your personal information to a bogus or even a fraudulent financial institute. So to be free of any legal hassle in future, make sure that you have a thorough knowledge of your creditor.

When Should I Apply For Such Loans?

Needless to say, that one must apply for such loans only under dire circumstances. If there is a sudden emergency and you cannot wait for your next paycheck only then apply for such loans. In such cases instant loans are a blessing. Providing such instant loans, without doing a credit check, is a risky business. Thus, cash advance payday loans have very high rate of interest ranging from 390% to nearly 900% as APR. In the United States there are laws forbidding very high rates of interest. But many financial institutes avoid these usury laws by forming relations with banks chartered in states without such usury laws. Hence, even the law sometimes cannot protect the interest of the debtor.

You can obtain cash advance loans in Australia easily over the Internet. Your application is usually processed instantly within 24 hours and the money is deposited automatically into your nominated bank account. Cash advance loans are small loans usually in the range of $100 to $1500. They are short-term loans and are usually to be returned by your next payday.

The terms of cash advance loans in Australia may differ from 10 to 18 days depending on the lender. There are many online lenders who provide payday loans. If you are short of money on your next payday, you can extend your loan to your coming payday. Most lenders provide this service as well.

Cash advance loans are widely-used services in Australia. The fees on payday loans may again differ depending on the lender. The higher your loan the more you have to pay for the. In general, the fees are usually in the range of $20 to $100. When compared with other services like credit cards etc, it is quite reasonable given that you can obtain the loan instantly with no credit check required.

The Requirements for Cash Advances in Australia

You have to meet some requirements to apply for online cash advances and payday loans in Australia. In general, you must:

- Be Australian citizen or resident

- Work at a regular job with steady income

- Have a bank account in good standing

- Have direct deposit of your pay into your bank account

Once you meet the above requirements you will need to fax some documents:

- Latest pay slip stub

- Latest bank account statement

- Copy of driver’s licence

You will only need to do this when you submit your FIRST application. Once the lender gets your details they will record them into an automatic approval system so that next time you use the service your application will be instantly approved with no fax required.

How to Apply

Getting cash advance loans in Australia is very easy. You can either fill in the application online or give the lender a call to get the loan. A good lender should have a facility to allow you extend your loan if necessary. Paperwork is only needed when you first time submit your application. After that, all verifications should be done automatically through an online system.

Cash advance loans, if used intelligently can be used to clear off your late payment penalties to avoid borrowing money from friends and relatives etc. It can be used when people have a short-term need for money.