Is there such a card? Yes, there are banks out there that don’t require a credit check in order to get you that plastic. For example, some banks will only require an ID check in order to approve you for a debit card. Simply provide your social security number and physical street address and watch how fast that debit card ends up in your hands!Additionally, if you’re a student with no credit history whatsoever, you can still get a debit card without going through a credit check. Many banks offer bank accounts, debit cards and other services that cater specifically to the student population – and all you’ll need is to fill out a simple application! However, with these accounts, it’s important to read the fine print, as you may be slapped with higher-than-normal fees due to your student status.
If you’re unable to find a local branch that offers a debit card without a credit check, then perhaps a prepaid debit card is your best bet. These convenient cards are easy to obtain and require no credit history or employment verification whatsoever – and more importantly, they’re more secure than ordinary debit or credit cards when it comes to online shopping. Best of all, you can link your checking account to the card so that you can reload the balance with no hassle!However, if you’ve been denied a checking account due to your credit history, it can be next-to-impossible to obtain a debit card. If this scenario sounds all too familiar to you, then don’t despair: you can still get a bank account without having to submit your credit for approval.
No annoying overdraft fees. If you ever made a purchase on your debit card that exceeded your checking account limit, you’ve probably felt the pain of forking over a large amount of cash towards expensive overdraft fees. Similarly, credit cards aren’t so kind towards those who exceed their limit, as credit card lenders can slap you with outrageous fees in return! Yet with prepaid debit cards, you’re never at a risk for exceeding your account balance or landing yet another fee; you’re restricted to the amount of money that’s available on your card. If you don’t have enough money for your purchase, your card won’t go through – it’s as simple as that!
Online security. These days, it’s important to be vigilant when using debit or credit cards for online purchases; but of course, once your billing information is online, it’s vulnerable to hackers and online thieves. When you shop with a prepaid debit card, you can rest easy in knowing that if your card information is ever stolen, there’s only a limited amount that the thieves can take. And with Visa prepaid cards, you are assured of zero liability for fraudulent charges A prepaid card is a good choice for people who would like to get a debit card but have trouble opening a bank account.
Approval Guaranteed! When applying for a traditional debit or credit card, you’ll always need to go through a credit check before being approved – and for some people with poor credit history, this is often a breaking factor. Yet with prepaid debit cards, there’s no credit check needed, since you’re simply loading your own money onto the card. Bankers and lenders are happy that prepaid debit cards carry no credit risk, while consumers are pleased that they can have their very own “debit cards” without going through the hassle of a nerve-wracking credit check This simple fact encourages thoughtful spending. It also makes one appreciate more of what one already has in one’s possession.
But now there are more incentives to get a bank card. Banks are working hard, competing for your business. In the recent years, they came out with several types of incentives for the check card holders, such as checking account sign on bonuses. Most recent, and apparently the most successful incentive is debit card cash back, or check card rewards card: based on the total amount of money spent each month, you are eligible to receive 1%, 2%, 3%, or even 5% reward on all the money spent that month through your check card in certain common categories, such as gas, groceries, and even your favorite cup o’ Joe at Starbucks Short of having an overdraft allowance on your checking account, it becomes impossible to spend more money than is held in your checking account.
Incredibly so, the incentives myprepaidbalance rewards for check card users are approaching those of the best credit cards available. The merchants love to accept check cards since, through PIN based transactions, they incur a very modest, $0.10 transaction fee or similar. With a so called “credit” transaction through your cash back ATM card, they, however, incur a much higher fee of $0.30 + 3% of the purchase value, or thereabouts. A big difference. As much as the merchant dislikes paying these fees, as long as they bring in a new customer who wants check card cash back, the merchant will profit from the idea of cash back ATM card still he main reason why a consumer would want to use a bank card is because it encourages prudent spending.