No Credit ChecksGet a prepaid Visa here
Credit checks are also known as credit scores. It is a statistical analysis of a person`s creditworthiness. Meaning how likely that person will pay his or her debts. Based on this statistic, lenders can decide who they want to loan their money, that person`s interest rate and credit limits. So far, it has been proven very predictive of risk. So who carries out this statistical analysis? They are done by three American credit bureaus which are, Experian, TransUnion and Equifax. However, lenders prefer to use third-party scoring systems as they are considered to be the fairest tools. The scores do not take race, ethnicity and gender into consideration. These third-parties include FICO (Fair Isaac Corpperation), VantageScore, NextGen and CE Score.
However, credit scores are not all good. They can be affected if the lender did not update the debtor`s information in his or her credit report. If a debt has been cleared but not stated on the credit report, it will certainly reflect badly on the debtor. It will remain there until the debtor realized it and update it his or herself. Lenders will not do this on behalf of the debtors. Well, this sounds rather unfair to me. Due to one`s negligence, others have to suffer. No credit checks or credit scores for me! I am against this system.
This is one of the reasons why I choose Vision Premier Prepaid Visa Card. This card is not attached to any banks and no credit checks are needed. Why need credit checks when it is a prepaid debit card and mind you, I am using my OWN cash. I am free from interest fees as well as we are talking about spending my very own hard earned cash.
There are actually three types of Vision Prepaid Cards in the market. They are Vision Preferred Visa Prepaid Card, Vision Platinum Visa Prepaid Card and my very own Vision Premier Prepaid Visa Card. Of course, all of these cards have no credit checks! Vision Preferred Visa Prepaid Card is also known as The Load ‘n` Go Card. It is tailored for those who do not want direct deposit. Well, it is a hassle for me. Vision Platinum Visa Prepaid Card is known as The Fee Free Card. You need to spend $1,000 and all transactions are free forever. Well, it does not sound really ‘free` to me as there are the upfront criteria in which you have to SPEND first. The other name for my Vision Premier Prepaid Visa Card is The Paycheck Card. Reason being, your benefit and pay checks arrive each payday electronically and you will have immediate access to your money. As I have commitments to loans, I love this card! No credit checks, no payday delay and free direct deposit!
However, for parents out there, just for your info, there are prepaid cards tailored for you such as Visa Buxx Card, Current by Discover® Prepaid Card etc. They come in attractive colorful designs. If only my Vision Premier Prepaid Visa Card is as colorful…However, this is not the main focus. All these cards have no credit checks as well as they are prepaid. You will also be able to control your kids` cash with these cards. Not suitable for me yet. Maybe I will get one when I have kids in the future.