Posted at 20:29h
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by DANNY LOOT
Let me make it clear about payday advances and prepaid cards
Wondering whether you may get a cash advance added to your prepaid credit card? It is possible - but you can find good reasons why you should think twice.
To start, although that is theoretically feasible, borrowing money to top up a prepaid credit card goes up against the initial reason for prepaid cards. This is to permit those that could not get yourself a credit or debit card, or maybe a good bank-account (because of credit dilemmas in past times), to create card payments in the place of depending on money. Pretty essential in an increasingly cashless globe.
Incorporating borrowed money to a card made to help people invest just the cash they always live within their means – could lead to further debt problems for anyone's who's struggled with this in the past that they already have – so.
Some individuals use prepaid cards simply simply because they assistance with cost management, but because a https://paydayloanscalifornia.net/ majority of these cards have actually a month-to-month cost (typically ВЈ5-ВЈ10), it is those that are not entitled to a credit or debit card who possess benefitted many from the arrival of prepaid cards.
Payday advances are a definite method to have the hands on some money fast, to tide you over until your following payday.