Why a Debit Card Application is a Breeze

Filed Under Prepaid Debit Cards

Have you ever filled out a loan application? They can be pretty daunting. They always seem to ask you for information you never seem to have close at hand. Information like all your existing credit card numbers, balances, and monthly payments, basically everything is fair game. And if you have a car loan or a mortgage loan they’ll want that information too.

Sometimes the application will request previous addresses. Sometimes it will want personal references. There are so many facets to it all that it can take quite a bit of time to fill out.

Then there’s the insecurity of it all. You’re asking for someone to loan you money whether you’re filling out a credit card application or a mortgage application and I don’t care how much cash you have in the bank, you still worry about being declined. Is it any wonder then why most people postpone filling these types of applications out until the last minute? I know I have.

But then there’s the debit card application. There’s no need to worry or fear a debit card application because they’re absolutely easy to complete. Here’s why.

In the first place, they’re short. That’s because they don’t require a credit check so they don’t ask you for any of your credit information. Let me restate that so it sinks in – prepaid debit cards do not require a credit check. You don’t need to have established previous credit in order to get a reloadable debit card. That all by itself shortens up the application tremendously. Plus it takes a lot of the worry and anxiety out too.

Next, you won’t find any previous address information requests or personal reference requests on the debit card application form because again, they’re not required.

What you will be required to do is provide your name, address, Social Security Number, date of birth, and a contact phone number to the debit card company. Every company requires this minimum amount of information because Federal law demands it. That information is verified to insure that it’s valid and, once it is, your prepaid debit card is sent to you in the mail.

Mostly today, these applications are filled out and processed online at the debit card company’s website. So it’s very convenient and fast. Most sites will let you know if you’re approved right when you apply. And your new reloadable card will arrive within a week to ten days thereafter.

When you compare this application to a credit card application, it’s like night and day. The credit application wants an arm and a leg while the debit application just wants a small amount of your attention. And yet, both credit cards and the debit cards will have the same features and benefits.

reloadable debit cards are every bit as useful as a credit card. They’re Visa and MasterCards to begin with and they carry with them the same abilities. You can use a debit card at just about any retailer. You can use it for online bill-pay purposes, and you can use it as an ATM card at your local cash machine. Even debit card protection is the same as a credit card’s.

The key difference (and the reason the debit card application is so short) is that you pay up-front for the debit card. So the debit card company absorbs less risk than the credit card company. It’s simple mathematics.

If you haven’t already, I suggest you look a little deeper at prepaid debit cards. They’re great budget tools and they give you a different perspective on your money and how you spend it. That’s a very good deal in today’s economic environment.

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Debit Card Application, Prepaid Debit Cards

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