Prepaid Visa Debit Card Review

Visa Prepaid Cash Card Review

prepaid visa Summary - The Visa Prepaid Cash Card is a debit card that enrolls in the credit builder program. This program reports your activities to credit bureaus for 12 months and hence helps to rebuild your credit. You need $159.95 to set up a Visa Prepaid Cash Card. Firstly, there is a one-time application fee of $59.95, a one-time processing fee of $90.00 and an additional $10.00 for a minimum first time load. The maintenance fee is $4.95 for maintaining the holographic debit card and $3.95 for maintaining the ATM card. Hence, your total annual maintenance fee is $106.80. The Visa Prepaid Cash Card charges fees for most transactions but does not charge for Point of Sales withdrawal.

Credit Builder Program - For the credit builder program, you have to send from your bank account $29.95 every months for 12 months. $19.95 will be reported as payments to your card and you will be credited with a rebate of $10.00 into your card. This program enables one to build a credit history even though you are using a prepaid credit card.

Verdict - The Visa Prepaid Cash Card will appeal to those who want to build or rebuild a credit using a prepaid credit card. Most prepaid credit cards do not allow you to build a credit history because of the very nature of a prepaid credit card (it does not extend you credit). This card, together with the credit builder program allows you to do so.

Latest Update - As of May 2006, this card is no longer offered. Check our report on prepaid credit cards with credit builder for other prepaid cards.

Visa Prepaid Cash Card
Annual Fee $No annual fee
Monthly Maintanence Fee $4.95 (Holographic Debit Card)
$3.95 (ATM Card) Withdrawal limit is $300 a day
Application Fee $59.95
Processing Fee $90.00
Creditbuilder Payments $29.95 from bank account of which $10.00 will be returned as a credit to your card
Card to Card Reload Fee $1.00
Bank Account to Card Reload Fee $1.00
Direct Deposit Reload Fee $1.00
Purchase at Merchant Fee $0.50
Purchase Online Fee 0.50
Telephone Purchase Fee $0.50
ATM Withdrawal Fee $1.50, 1.5% of transaction amount for international withdrawal
Point of Sale Withdrawal Fee $0.00
Live Teller Withdrawal Fee $1.50
ATM Balance Inquiry $1.00
Online Balance Inquiry/Service Fee $0.10
Automated Telephone Inquiry/Service Fee $0.50
Customer Live Call Fee $3.00
Paper Statement Fee $5.00
Card replacement/cancellation/reactivation Fee $5.00
Maximum Load Not less than $25.00 and not more than $500.00 for each load
Not more than $1,500 a day or $5,000 a week
ATM Withdrawal Limits $300.00 within 24 hours