Prepaid Debt Cards And IRS Tax Debt

Prepaid Debt Cards And IRS Tax Debt

There are many reasons to take advantage of prepaid debit cards. For starters, such cards can be used at almost any online store as well as brick-and-mortar locations. For those looking for a convenient way to pay bills, make purchases, transfer money and more, prepaid debit cards come with these advantages.

Since these types of cards are not in any form of a type of credit, they do not have any type of reflection on a person’s credit score, which is much unlike credit cards. If used inappropriately, credit cards can do much damage to a person’s credit, whereas prepaid debit cards have no effect.

Try not to use your bank card to pay off  tax debt you have with the Internal Revenue Service (IRS).  While this may be quite tempting, it is a much better idea to speak to the IRS directly and make sure they know that you wish to set up a repayment schedule. The terms of the repayment schedule will most likely be at a better rate than otherwise available.

For people who don’t have access to a checking account, a prepaid debit card, such as a Kaiku Visa prepaid, can provide many of the same benefits that are often associated with having a banking account. Money can be directly deposited onto a prepaid card as well as spent at any store or location that accepts Visa debit cards.

Lastly, prepaid debit cards are advantageous because a person won’t incur any type of overdraft fees. If and when the person tries to use the card when there are no funds available, the card will simply be denied; however, no insufficient fees will be charged to the person’s account.