Having your payday loan deposited into a prepaid cash card offers a good deal of convenience.Lady holding piggy bank with cash sticking out of top slot

Budgeting Tips to Consider

Once you receive one of the cash advance cards, you can use them at any location where the common Visa or MasterCard logos are displayed and those credit cards are accepted. Simply give the card to the person at the counter and the amount of your purchase will be deducted from the total of the balance that you were approved for and had deposited in the account. As easy as it is to find a payday lender using this site and to get a loan, usually with no credit checks required, and have it deposited on a card without having to worry about the usual hassles, it is still possible to injure yourself financially by abusing the system.

Borrow Only What You Need

A common mistake made by consumers is borrowing too much money. You should know when you apply the precise amount you need to handle your emergency or situation that necessitates the service and borrow that exact amount. A lot of people want to round up the amount to the next nearest hundred because the fee will not change and they figure they could use a little extra. That little extra can cause extra severe burden when it comes time to repay the balance later so you're better off doing without it for now. If you need $103.98 to pay an electric bill, for example, then borrow $105 and leave it at that.

Make Charges Carefully

With preloaded, prepaid options, your money will need to be carefully spent in order to avoid having an "unusable" minor balance when you are done. This is another key reason why you don't want to borrow more than you actually need when taking out funds this way. If, for example, you have two bills totaling $397.87 and you take out a Payday loan for $400 even, you will end up with a $2.13 balance left. It is your money, you paid for it, but it's not useful for much at this point and may be unusable fully until you take out another loan.

Remember Your Other Debts When Planning Repayment

Typically any funds received on prepaid cash cards will have to be repaid with your next pay period unless you make other adjustments at the time you take out the funds. You should have an eye on the future and your other debt obligations when you consider how you will manage that pay cycle without the amount of your cash advance plus the fee. Planning and preparing for it in advance by cutting back on things you normally spend money on (groceries, perhaps, or eating out) will help you to be best prepared for the task of repaying your amount owed in a timely manner and avoiding further penalties or late fees.

I have a regular source of income.
I receive at least $1000/month.
I have a bank account.
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There are many advantages to using a prepaid cash card in order to finance your payday loan. Cash cards act like a credit card but do not have the fees that are generally associated with a credit card.