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The Hidden Agenda Of Rapid Mastercard | rapid mastercard

Rapid MasterCard did it again: they claimed in a press release that they had “dismissed” a screenwriter who'd taken their course for $2500 because the instructor wasn't a good writer and he wasn't paying enough through PayPal. Then they doubled-down by saying that “the writer was dismissed from Rapid MasterCard due to insufficient funds in his PayPal account.” Who do you believe? There are two reasonable points here.

First of all, RapidMasterCard doesn't define what “sufficient” means in their press release. There is no mention of what the acceptable circumstances are for payment in this regard. The implication is that any money beyond what has already been spent must be paid through PayPal. This is likely to be a loophole used by unscrupulous vendors selling RapidAid prepaid debit cards.

Second of all, this particular merchant isn't the first case of misuse of RapidAid. In fact, it's one of many examples of rapidmastercard incorporated aksyon pou (Rapid Visa). The original author, Jay Kubassek, has written about these issues in detail on his website. The site also contains links to reviews of merchants using advanced merchant services that RapidCredit and/or QuickPay feature to take advantage of existing payment methods like PayPal. And they have a list of merchants and the correspondence with them.

In relation to the second point made above, in rapidcredit and quickly the RapidMasterCard company does not appear to have any controls in place to ensure that a student who is enrolled in a course of study that uses QuickBooks to pay for it and that the course of study is valid. If that student then goes and uses RapidAid for payment, the RapidMasterCard company liability could extend to covering the cost of the entire course, even if the cash was paid via prepaid credit card. That could be extremely problematic if the course is part of a study allowance or part time work. It would also be problematic for a parent who has sent their child or children to expensive boarding school or university via a college program that requires a credit card. This could open up a whole new range of issues for those students who are already saddled with college debt.

The third example of misuse comes from a very different direction. The RapidCredit company was contracted by the US government to process payments for a program called Yellow Pages Connects, which connects businesses in the Yellow Pages to one another. The program itself was never launched, but the company did manage to contract out the service to quite a few companies. It was only when one of the companies was asked to process payments for the Connect program for the US military did the problems come about. In addition to paying for the credit card charges to the contractors' accounts, the company was being charged for the processing fees – which could be substantial. This is an example of the abuse of privilege, as well as the misuse of a credit card.

Finally, some may argue that credit cards should not be abused, because if a company is abusing a credit card it will eventually bring damage to its own credit card account. As already mentioned, some misuse of credit cards goes far beyond just charging them. Some companies go so far as to actually charge for using them! What is the point of having a credit card if you're going to be charged for using it? In the case of RapidMasterCard, the credit card charges that the company settled with the Federal Trade Commission brought about were not excessive.

Now, one could say “but my credit card company will reimburse me for expenses that I have not incurred”. That is true, but if you continue to charge on the card after you have stopped using it, that's crossing the line. The charges for RapidMasterCard were settled for not being able to keep up with the payments, which they ultimately did. If you use your credit card irresponsibly and then continue to use it after the debt has been settled, you are now in violation of both the credit card companies and the Federal Trade Commission.

If you do find yourself in this position, do what you can to get out from under your credit card debt. Contact your credit card company immediately to find out if they have any options available to you. It is possible that you can settle the debt yourself through a process known as “cashing out”, in which you cancel your account and agree to pay the full amount due. Keep in mind though, that if you continue to be in default, the penalties and other actions from the FTC will become serious and you could face criminal prosecution.

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