What Are Prepaid Debit Card Loans? If your credit score has taken a beating and you don't have a traditional bank account, you've probably run into a wall when trying to borrow money. That's where the idea of getting a loan wired straight to a prepaid debit card starts sounding pretty appealing. These are essentially short-term loans—often payday loans or cash advances—where the approved funds get loaded onto a prepaid card instead of being deposited into a checking account. The concept is straightforward enough. You apply, the lender approves you (sometimes within minutes), and the money lands on your prepaid…
