Debt is the word of the month. January is a time when many of us are suffering the repercussions of our own holiday over-spending. All the gifts, parties, decorations and travel expenses creep up on us every December and by the time we’re counting down the last ten seconds of the year, we know we’ve spent way more money than we have, and that after the fun is over we’re going to have a big mess to clean up.
The word debt strikes fear and anxiety into the hearts of most people, especially when the debt is high-interest and compounding out of control. Luckily, there is a variety of tools that can help to curtail spending and stop racking up consumer debt, and at the top of this list of tools is prepaid cards.
The Prepaid Advantage
The main advantage of a prepaid card over a credit card is that, when you use it, you’re spending money that’s already yours. It can be used just like a debit or credit card, but has been pre-loaded with funds so that you can’t spend any money you don’t already have.
Payza’s prepaid card can be used for purchases in-store as well as online, or at an ATM where you can withdraw cold, hard cash. Still not convinced? Here’s why anybody with a debt concerns should be using a prepaid card:
- You don’t need credit history. If you bad credit or no credit history at all, you may not be qualified for a credit card, but you are still eligible for a prepaid card, because funds are not being lent to you, you provide them yourself.
- No repayment necessary. Since you load the card with your own funds, you can spend the money any way you choose without worrying about owing the money to a bank or another financial institution.
- No debt means no interest. Spending pre-loaded money with a prepaid card does not create debt – that means there’s no interest accrued on the money you spend.
- You control how much you spend. Our prepaid card is reloadable, so you can routinely add funds to control how much you spend, thus decreasing chances of over-spending. For example, you can load your prepaid card every week with a set budget for lunches, dinners and entertainment, and never once have to use your credit card, your savings or your budget for bills and other expenses.
- You can withdraw cash: Just go to an ATM and use your prepaid card like you would your debit card, and you’ll have cash in your hand.
Payza’s prepaid Visa card is now available for order in 47 countries and the list is growing all the time. If you earn or receive money with Payza you can withdraw those funds from your e-wallet directly to your own Payza prepaid card, then use it wherever Visa Cards are accepted —online, in stores or even at most ATMs. Check our Local Payment Options page to find out if the card is available in your country.
Get the Payza Prepaid Card
If you would like your own card, just log in to your Payza account, click on “My Payza Account – Main Menu” and select “Prepaid Card (Payza Issued)” to order your card today or to get more information about the card including the terms and conditions. Only verified members can order the card, so if you haven’t done so yet, read this blog to find out more about verification.
For more advice on how to stay out of debt, read Start Planning Now to Avoid Debt this Year. If you have any more advice for people using prepaid cards or trying to avoid debt? Leave a comment below or join the conversation at our Facebook or Twitter pages.