Can I get a payday loan or short term loan on a credit card instead of using a bank account?
Yes. You can apply for a fast cash loan for up to five hundred dollars placed on a credit card to use for anything. This is if you are wanting a short term loan. There are also home equity lines of credit you can take out and place on a credit card if you are a home owner you can find out more about that with one of our mortgage partners.
The main card we offer is the fast cash preferred card which is similar to our 123 Online Cash Payday Loan but uses a credit card instead of depositing the money in your bank account. You ahve the money to use on a card in your hands and its more like cash.
Introducing the Fast Cash Preferred Card
The Fast Cash Preferred Card is a Stored-Value card issued by a financial institution and processed by Lynk Systems using the name “Cash Lynk.” This fast cash card works just like an ATM Debit card, but without requiring you to have a deposit account at that institution. After the proceeds of a loan are loaded onto the card, it can be used like any other ATM debit card with the same worldwide access. You can charge retail purchases at point of sale (POS) terminals or withdraw cash at ATMs up to the cash limit of the ATM or the card’s available balance. The available balance is determined by the amount of funds the cardholder has loaded onto the card and has not previously withdrawn.
How do loan proceeds get applied to the Fast Cash Preferred Card?
You must apply for a loan by logging on to www.fastcashpreferred.com and click on the Add Funds to Your Card button. This will take you to a loan servicers website where you can apply for a loan. Then Fast Cash Preferred will receive approval notification from the lender, it will takes about one hour for your loan proceeds to be available on the Fast Cash Preferred Card.
What are the different ways to withdraw your loan funds from the FastCash Preferred Card?
Our favorite way is to withdraw the entire amount of your loan immediately at an ATM. You will not be charged an ATM fee by the card issuer for the first ATM transaction that occurs following the card being loaded with your loan funds. In order to avoid being charged an ATM surcharge, you must use a surcharge free ATM. To locate the nearest surcharge free ATM, you can look online at www.atmsurcharges.com/find.html or use your favorite search engine to locate surcharge free ATMs nearest you.
Other options include:
- Leaving the funds on your card and accessing them over time using ATM’s or POS’s (Points of Sale) terminals, just as you would use a debit card. However if you choose this option, each transaction will incur a fee (ATM transactions may incur an additional surcharge levied by the ATM owner) and the card will be charged a monthly maintenance fee. The monthly maintenance fee will be charged on the 15th of each month in which the card maintains an available balance. This will then reduce the amount of funds on your card that are available for you to spend. Please see the Fast Cash Preferred Card Cardholder Agreement and Disclosure for fee information.
- You may transfer the funds from the card to your personal checking account. Please note that you will incur a fee for this using this service. If you choose this method we advise you just apply for a regular payday loan where they already deposit the money in your checking account.
- Try the ACE Cash Express Debit Card