Prepaid Master Card Fixed My Credit Score And Ended The Need To Shell Out In Cash!
My situation may well have been a lot worse that yours will ever be but when I lost
my business; I lost my bank account; I lost my debit cards and I lost a huge amount of time queuing in post offices to pay bills.You don't realize how fantastic a direct debit facility is, until you can no longer have one. Try trudging to the post office, queuing in line, then realizing you've forgotten the letter with the payslip on. Then having to get home, find the thing, trudge back to the post office and queue AGAIN. Who knew a journey to the post office required the strategic thinking of an MBA master class. And no matter which post office you visit, they all close down counters as the number of people in the queue line increases.
I can't stand waiting in line. There's 2 years of my life I'm never getting back.
Think about it. A bill arrives, you might stress over it; you might complain about it. But ultimately you're going to pay it. You can call the company, hold on the phone a little whilst you drink your coffee, then pay with your card. Simple, easy, hassle free!
But, lose the credit or debit card, surgically remove the direct debits and you're left with hard cash. No ones come up with a way to feed dollar bills down a telephone line. And there's no slot on your computer. You have to actually get off your behind, leave the house and go pay.
In my case, in the beginning, I couldn't even open a bank account. Then some bank angel took pity on me and gave me a bucket type of account. Put money in. Take money out. That's it. No cards, no other facilities. Just the bucket.
And then NIRVANA - I discovered prepaid credit cards. Cue music, roll back the clouds, and let the rays of sun light bathe you in sanity. Actually they're really debit not credit cards because no-ones giving you any credit, but I suddenly felt like part of the civilized modern world again.
Who knew a piece of plastic could be therapeutic!
One trip to the post office and I could load that puppy up with enough cash to cover the bills AND have enough left over to make like a real man and buy my wife dinner. Ok, it may only have been dinner at Denny's because technically we were still broke. But hey I had a credit card back in my pocket.
I could call and pay bills over the phone. I could browse the internet and actually order something. Usually books or gadgets in my case. And of course, I couldn't spend more than I had put on the card, which meant I couldn't run up more debt.
I've never had an issue with identity fraud, but if someone had hacked my card number, they'd only get a Mac Muffin and that's it.
What was really useful was the card company charged $5 a month for using the card. And at the end of 12 months, they update your credit record saying you successfully repaid a $60 loan.
That helped turn my credit file around. And it allows you to be welcomed back to credit planet.
Some moments remain with you forever. Your first boyfriend or girlfriend. Your first child. And being told, yes, you can have a bank account with a real working debit card again.
I phoned my mom to share the emotion of my daughter being born. I phoned her again to share the elation of having a real bank account again.
And I still have a prepaid card. I use it for what we call treat days. Stack up the card with the amount of cash we want and can afford to use and then out we go for the fun of spending it.
So grab your prepaid card. And re-join the cool credit gang.
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