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To receive any sort of credit you need to have a good credit
history. Consumers with a low credit score or a bad credit
history face difficulty in getting an unsecured card. The
Vaya Prepaid MasterCard is an ideal credit card for consumers
with poor credit history. This is a prepaid card, which means
that cardholders must pay money onto the card before they
can use the credit card. The cardholder's paycheck is used
to finance the card, in full or in part, with the card loading
automatically every pay period.This card being a prepaid credit
card, charges no interest since cardholders are not borrowing,
but are using their own money to make purchases. Many charges
associated with unsecured credit cards can also be avoided
with this card, such as annual fees. Plus the requirements
with the Vaya Prepaid MasterCard are less stringent, which
means that applicants do not need a bank account and no credit
check is necessary.
There are some fees associated with this credit card. These
fees include over-the-limit fees that currently stand at $15,
and there is a $1.50 - $3.50 charge on cash advances from
ATMs. A one time application fee of $49 is charged on this
credit card, and monthly fees of $5.95 are charged to participate
in this prepaid credit card scheme.
This prepaid credit card is therefore very useful to those
with bad credit to enjoy the convenience and ease of credit
card use, but without the risk of mounting debt that they
cannot afford to repay.
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