The Stimulus Card is the gift to America from the federal government and has helped out Americans in many ways. It provides Americans with a way to avoid accumulating large amounts of debt and in the long run pay off what needs to be paid off. However there are many people who have been scammed by the government when it comes to getting one of these cards or even worse counterfeit ones. If you fall into this category, here are two things for you to know.
First of all you should know that it doesn't work like a standard debit card. With the stimulus funds in place this is not how it works. Instead of simply making purchases with your card over the Internet you will need to make payments directly to the bank in order to get your payments sent out. What is even more surprising is that the banks who you are dealing with are not actually participating in this program. So the question is: how does the government receive payments from financial institutions when they are holding the stimulus funds?
The answer to this comes in the form of Visa debit cards or rather prepaid cards. These are essentially an ordinary Visa card, except that it has a pre-loaded amount of money which you can use immediately. This money is put into your bank account and you can then choose which bills to pay off each month. Unlike a standard bank account which you can choose which bills to pay off, with the stimulus card you need to make payments directly to the bank. The benefit to this is that since the money is already in your bank account it is much easier to manage and easier to budget as well.
The other thing you need to know about this type of stimulus card is that you won't see any paper trail. There are no accounting records, nothing to indicate who received what money and nothing on the website to let you know where you can claim your money back if you don't want to use it. This might be fine for junk mail and standard envelopes but what about emails? It's hard to tell how much spam you are getting these days because emails are going through so many servers that the chances of two different companies sending you the exact same email at the same time are pretty slim.
Even with all these advantages the biggest advantage that you will have is probably the ability to apply for your stimulus card online. Now you are not going to have to worry about going to the bank to apply for your card's because all you have to do is go online to one of the websites that is designed to help you. You fill out a basic application and then the website sends it to the appropriate department to get your information together. In most cases you will just have to print out a few documents from their site and mail them to the right place. If you live in the area where there is a one reader signed for each household, it could take you a few hours to get everything together.
One nice thing about this option is that you will have the chance to choose between fixed interest rates and . . . . . . adjustable rates when it comes to receiving your payments. If you are careful with where you apply for your stimulus payment the payments that you receive can be significantly reduced. The stimulus money that is being put into the economy is good for us but it can also be used to our advantage by allowing us to get money to start our own businesses and pay off old debts. We need to make the most of this opportunity and make sure that we take full advantage of the tax breaks and the lower interest rates that we are getting. Take control over your financial future today and make sure that you get cash for your troubles today.