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A step-by-step guide covering Python, SQL, analytics, and finance applications.
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Get full access to all Data Science, Machine Learning, and AI courses built for finance professionals.
One-time payment - Lifetime access
Or create a free account to start
A step-by-step guide covering Python, SQL, analytics, and finance applications.
Or create a free account to access more
With all of the bad debt that many of us have racked up over the years, and it is only seemingly getting worse, it’s time to start taking better financial responsibility of our debt and future. For a good number of people, they get a new credit card and use it to book a trip or some other major purchase, and then tell themselves that they will deal with paying it off later. With all of the high-interest rates that are attached to credit cards though, it makes paying down this form of debt very challenging - even for those who earn a good salary due to high fixed costs for daily living.
Budgeting is getting more and more important to keep variable expenses in check, to improve personal credit ratings, and to reduce the stress that comes with debt and trying to keep paying it down while the interest accumulates daily. Credit cards are very convenient to use, almost too much so, and it has led to people going broke, or even worse - having to declare bankruptcy and start over from scratch.
Consumers want the convenience of a credit card but don’t want the high-interest rates that come along with using them. So what alternatives are out there that provide many of the benefits that a credit card offers including the ability to make purchases when traveling overseas? A prepaid credit card provides much of what a traditional credit card offers but allows someone to save on the high-interest fees, but there are still negatives to consider.
Western Union now offers its PrePaid MasterCard from NetSpend which offers a lot of value to its users - especially those who receive and send a lot of money transfers. How can you decide if this financial instrument is the right fit for your lifestyle though? We take a closer look at the Western Union Prepaid MasterCard to outline how it works, its benefits, what the costs are, and provide a transparent look at how it might be of use to you and how you live your life.
Cash is handy to use but has its drawbacks, mostly its lack of protection if you lose it, if it gets stolen, or if it gets damaged or destroyed. Not everyone wants a credit card and not everyone has the credit history available to qualify for one. So that leaves someone having to use a debit card that’s associated with their bank account, but this financial instrument has its limitations.
The great aspect about a Western Union Prepaid MasterCard is that there is no credit check that has to be done, as the card isn’t technically a credit card. By simply requesting one of these cards online a consumer can gain access to one, activate it after receiving it in the mail in just a few business days, and then add money to it so it’s ready to use either domestically or internationally.
There are a variety of ways to load money onto the card, and they include:
The direct deposit option is a popular one as access to new money on the card can come a couple of days earlier than the other options - dependent on the payment processor.
More value from the card includes the ability for cardholders to receive or transfer a Western Union money transfer within a few short minutes from more than 200 countries, can have their tax refund deposited to their card, can pay bills online, and other built-in benefits.
This specific card is actually a dynamic debit card so the worry of interest building up is gone as there is no associated interest rate. The card does come with some fees depending on which of the three plans a cardholder elects to go with, as outlined below.
All three of the above plans also have a $2.50 fee for each ATM withdrawal, and additional fees from the cardholder’s bank or the ATM owner can also exist.
When a cardholder refers a friend and they join and load at least $40 onto their card, then that referring cardholder receives a $20 credit to their card.
Some merchant partners do offer various special offers during select promotional periods, and cardholders can earn money back from select partners during these periods. Cardholders who are looking to gain value from merchant partners should pay attention to promotional offers that may be available to them at certain times.
LeadGenius has a free to use online marketplace that features a big and diverse network of lenders - both on the business or personal end of the spectrum. A loan request can be made in under five minutes, and the lender’s decision can come minutes after the request was first submitted.