Get a payday loan and have access to your funds through a prepaid debit card.
If you need funds quickly, a payday loan could be an option to consider. In the past, applying for one of these loans meant having to visit a physical branch, but you can now apply for these loans online. There are other convenient features also available with a payday loan, including prepaid debit cards.
Check into Cash Prepaid Debit Card Loans
Check into Cash allows you to directly apply for a payday loan and have your cash deposited to a prepaid debit card when you need it.
- Min. Loan Amount: $50
- Loan Term: Varies upon state
- Turnaround Time: 1-2 business days
- Total Costs: Varies depending on the amount and your state of residency
- Must be 18+
- No security needed
- Confidential and secure!
Other prepaid debit card payday loans you can compare
Here are some loan providers that you could apply to. Note that the max loan amount is based on the provider’s max amount. The amount will vary based on your state of residence.
A selection of loans you can apply for
Here are some loan providers that you can apply to. Note that the max loan amount is based on the lender’s max amount. The amount will vary based on your state of residence.
A selection of lender matching services you can apply with
These lender matching services are not lenders, loan brokers, or agents for any lender or loan broker. They also do not make credit decisions. They focus on trying to match you with a lender that might be able to provide you the funds you seek. Note that the max loan amount is based on the matching services max amount, but it will vary based on your state of residence. If you proceed with one of these services, confirm that the lender is reputable by checking with your local government.
How does a prepaid debit card payday loan work?
When you apply for a payday loan, in-store or online, you might also be given the option to request a prepaid card. If you’re approved, the lender will transfer the funds into your loan account, which you can then access using the debit card.
If you need a loan in the future, you can receive those funds using the same card. Most prepaid cards come with either the Visa or MasterCard branding, so you can look forward to withdrawing money from your card at ATMs as well spending at EFTPOS terminals.
State regulations govern how much you can borrow and for how long, and payday loans are not legal in all American states. Hover over your state of residence on the graph below (or click on your state if you’re using a mobile device) to find out if payday loans are legal in your state.
Features of using a prepaid debit card with your payday loan
There are a number of features that come with payday loans, including:
- You’ll get easy access to funds.
Once the funds are transferred to your card, you can withdraw money from an ATM, shop at stores that accept prepaid cards, and you may also be able to spend online or over the phone.
- You can receive other funds on the card.
You aren’t limited to using your prepaid debit card to receive payday loans. You can set up most prepaid payday cards to receive direct deposits, giving you quick access to your paycheck, tax refunds, and government benefits.
- You may earn rewards.
Some prepaid card providers let you earn cash rewards when you use your card.
- Multiple loan options to compare.
If you live in a state where payday loans are legal, you’ll have a number of lenders to compare and choose from. The time it takes to process applications and disburse funds varies by lender, so it’s in your best interest to compare your options.
- You can use the funds for any purpose.
What you want to do with the loan is up to you. You can use the money for car repairs, forgotten bills, or to just get by until payday.
What are the benefits and drawbacks of these loans?
- Bad credit is okay
As long as you can demonstrate your ability to repay the money you want to borrow, your credit rating should not stop you from being approved.
- Quick access to funds.
Some lenders can transfer your loan to you on the day you apply while you may need to wait until the next business day with other lenders. The process is generally quicker when you are a repeat borrower as you already have the prepaid card and can receive your loan onto it.
- No bank account required.
You can find lenders who approve loans to borrowers with no bank account.
- Higher fees.
Payday loans charge considerably higher fees compared to conventional loans, making them a costly form of credit.
- Short repayment term.
You’ll generally have to repay your loan on your next payday, so make sure it won’t put too much of a strain on your budget before you apply.
What you should know about prepaid debit card payday loans
Before you apply, establish how you plan to repay the loan. If you think you might not be able to repay it on time, seriously reconsider taking the loan in the first place. Not paying the loan on time means you will pay additional fees and charges, and it can also have a negative effect on your credit rating.
Make sure the lender you deal with has a valid license and is allowed to lend in your state. Review the terms and conditions before accepting any contract.
Frequently asked questions about prepaid debit card payday loans?
How much time does it take to apply for a debit card payday loan?
The application process should take no more than 10 to 15 minutes if you have all the required information close at hand.
Can anyone apply for a payday loan?
You can apply if you have a steady source of income and you’re a permanent resident of the US. You’ll also have to meet your state’s minimum age requirement, which, is 18 in most states.
Can anyone apply for a payday loan?
You can consider applying for an installment loan or an auto title loan. You could also consider a prepaid debit card that you could load funds onto directly.
Are there any fees with debit card loans?
This can vary with each short term lender you apply for. You may have to pay reload fees, interchange fees, setup fees and ATM withdrawal fees. It’s important to check these before you apply.
Is my information safe when I apply?
The majority of short term lenders use 128-bit security encryption to ensure your details are kept safe. Look for the padlock icon in your browser.