Review of the Visa Prepaid Cash Card

The Visa Prepaid Cash Card was last reviewed on : 1st February 2005

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
Cost/Fees
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