The PEX Visa Prepaid Card for Business is a tool for every company with employees in the field who need to make purchases with company dollars.
Using the PEX card and their own computer, employers can allocate specific funds to each employee, and even control where and how those funds are spent. You can, for instance, allocate a dollar amount per day for restaurant meals and a different dollar amount for gasoline. You can set daily spending limits and restrict use to authorized categories.
For employees on job sites, you can designate dollars for supplies, and in the case of unexpected expenses, send additional funds to the employee card in minutes – right from the comfort of your own computer.
Pricing is via a monthly fee, which is waived for the first two months. There are no transaction or card load fees. No credit check is required to obtain this card.
Prepaid funds are held in the primary business account until disbursed to individual employee cards. Thus, each employee has a pre-set balance available, and that balance can be changed by the business owner at any time. Unused funds can be pulled back into the primary account.
Cards are issued in the employee’s names – in case of termination the owner needs only to set the balance available to zero. Cards can also be “turned off” when employees are on vacation or temporary layoff.
The reporting package can report monthly spending for each card holder, or for the entire business.
The PEX Visa Prepaid Card for Business gives a business owner complete control over his or her funds, even with a dozen employees in the field. The pre-set spending limits prevent unauthorized purchases and the “no cash withdrawal” feature means you know exactly where every dollar went, even if the employee loses receipts.
Using this system will put any business owner in good graces with the company accountant.
Are you looking for a secured card with no APR on purchases for the first 6 months, and a relatively low APR thereafter? Then the Public Savings Bank Secured Black Card might be the one for you.
After your introductory period, the interest rate will be a low 7.99% plus Prime – and you’ll have 25 days grace period after your statement arrives in which to pay the balance and avoid interest altogether.
Interest on cash advances, however, will be charged at 10.99% during the first 6 months, and from 19.99% to 23.99% thereafter.
Should you Make a late payment; Exceed your credit limit, make a payment that is returned, or do any of these things on another account with Public Savings Bank, your interest will go to 23.99% for an indefinite period of time.
Your monthly payment will be 2% of your balance or $10 – whichever is greater.
You’ll have a one-time set up fee of $79, and NO annual fee. When you increase your credit limit, a $25 fee per increase will apply. The fee for late payments, over-limit transactions, and returned payments is also $25.
This card allows you to deposit from $300 to $1,500 upon application, with a lifetime credit limit of up to $10,000.
The Public Savings Bank Secured Black Card helps you establish a credit rating, because it reports to all 3 of the major credit bureaus, and is accepted everywhere you see the MasterCard or Visa logo.
You’ll have free 24-hour online account access, plus friendly customer service. In addition, you’ll get free Visa rewards, including auto collision damage and emergency card replacement.
Your income and credit are not a factor with the Public Savings Bank Secured Black Card – all applications are accepted.
You can’t be turned down when you apply for the Applied Bank National Express® Secured Visa® Card
All you have to do is open a FCIC Insured Deposit Account at Applied Bank. Your new account will secure your new Applied Bank Visa card, and the credit limit will be equal to the amount of your deposit. No interest will be paid on this deposit account.
You can start with as little as $200 and go as high as $5,000. Plus, you’re not stuck with your initial deposit – any time you want you can increase the deposit, and your credit limit, up to the $5,000 limit.
Your application is guaranteed with verification of your deposit and your identity. The U.S. PATRIOT Act dictates that we must verify your name, address, date of birth and other identifying information.
This is a real Visa card, not a prepaid or debit card, and as such it is protected by zero percent fraud liability. It also comes with real rewards – With your account approval you’ll be entitled to a free companion airline ticket valued at up to $530. Simply request it from Customer Service.
The Annual Fee is a low $50, and the interest rate is fixed at 9.99% for both purchases and cash advances. The cash advance fee will be 5% or $5 – whichever is greater. Late payment fees and overlimit fees range from $32 if your credit limit is $1,000 or less, and $35 if your limit is over $1,000. Late payments will not affect your APR, but rates are subject to change without notice.
Rates and terms are subject to change without notice.
As of September 1 you can use your credit card to pay certain mortgage loan fees if the loan will be underwritten by Fannie Mae.
You still may not use a credit card for any part of the down payment, but fees such as appraisals, credit report fees, origination fees, lock-in fees, and commitment fees are now allowed. The limit is 2% of your loan amount, so on a $150,000 loan, you could charge up to $3,000 on your credit card.
This may not be a smart move, for a couple of reasons. First, adding $3,000 to your credit card debt could change your credit scores just enough to move you out of the running for the best mortgage interest rates. Even one or two points in your credit score could make a huge difference.
Since your FICO scores are in part based on how much of your available credit you use, it would depend upon the balances you already owe in relation to the credit limits you carry. If you push any one card over the 30% range, it could have an adverse effect.
If you have several cards with no or low balances, you might consider spreading these mortgage loan charges among those cards rather than putting all of them in one place.
If you do put all the charges on one card you run the risk of having your credit limit lowered, which would have an even greater adverse effect on your credit scores. Credit card issuers are still allowed to drop your limit to the balance you owe – and until February they may even drop limits below the balance you owe. This could trigger an over-limit charge and a negative notation on your credit report.
Next, adding these charges when you’re well into the loan process can delay closing on your mortgage.
When you use your credit card for loan fees, your mortgage lender is required to do one of two things. He or she can verify that you have sufficient liquid funds to cover this in addition to your down payment and required reserves, or recalculate your debt to income ratios.
If the debt to income ratios were tight, the new debt could prevent you getting the loan. At the very least the new calculations will require the lender to give you a new truth in lending statement, and that requires a new waiting period before your loan can close. If you’re very close to a rate lock expiration, that could cause you to pay a higher interest rate on your mortgage loan.
If you want a quick start to a good credit rating, get the Applied Bank® Secured Visa® Gold Card. Applied Bank reports to all 3 of the major credit bureaus, so your wise use of the Applied Bank® Secured Visa® Gold Card will put you on track for high credit scores.
As with any credit card, maintaining a balance that is under 30% of your credit limit will benefit your credit scores, as will a record of on-time payments.
Meanwhile, you don’t have to have good credit scores to apply – you don’t even have to show proof of income. All you need to do is supply your name, address, date of birth and Social Security number to comply with the U.S. PATRIOT Act regulations – then Deposit from $200 up to $5,000 in a FDIC insured Deposit Account at Applied Bank.
Your deposit will be security for the Applied Bank® Secured Visa® Gold Card and your credit limit will equal your deposit. You can start small and add to this non-interest bearing account at any time.
The interest rate on both purchases and cash advances will be 9.99%, even if you’re late with a payment. Interest is computed on your average daily balance, including new purchases.
Over limit and late fees range from $32 to $35 depending upon your credit limit. Cash advance fees are 5% or $5, whichever is greater. The annual fee of $50 will be billed to your credit card each year on the anniversary of your account activation. There is no application fee.
This Visa® card comes with zero percent fraud liability, and is accepted anywhere you see the Visa® logo.
Rates and fees are subject to change without notice.
When credit card issuers started increasing credit lines, promising low interest rates “for the life of the balance,” and sending consumers cash advance checks with large numbers already filled in – it was hard to resist.
Some merely transferred balances from higher rate cards. Who wouldn’t trade in their 10.9% balance for 1.9%?
Had everyone kept on paying the monthly minimum payments required at the higher interest rates, their credit card debt would have fallen rapidly. Unfortunately, many used that low interest rate and corresponding lower monthly minimum to reduce their monthly bill payments.
Others saw those offers of 1.9%, and even up to 6.9% as a way to reduce interest payments on a car, or on major home improvements. And again, they used the low monthly payment as a way to spread that debt out over many years.
Now credit card issuers have dropped credit limits sometimes to less than the balance owed – and the fact of being “over limit” has caused the low interest rates to spike.
The result is a monthly minimum that many find difficult, if not impossible to pay.
What to do if you’re in this situation?
First, act quickly. Keep making those minimum payments in order to protect your credit rating while you find ways to finance that debt at a lower interest.
If you owe on a credit card for a car purchase, try to refinance the car at a bank or credit union – and of course, use the money to pay down the credit card. Your interest rate will be lower and the payment will be fixed.
Then, if a good portion of your debt was for home improvements, see if you can get a home equity loan to pay off the card balance. This will put a second lien on your home, but will give you a fixed rate and a fixed payment.
When you’ve gotten that credit card balance as low as you can through those actions, begin working to pay it off. Look for a lower rate card that you can transfer to, or contact your card issuer to see if you can opt out of the rate increase by closing the account.
If you are allowed to opt out and stay at your old rate, remain on the alert for new increases, and put any extra cash you have against the debt.
The PEX Visa Prepaid Card for Business is a tool for every company with employees in the field who need to make purchases with company dollars.
