Prepaid Debit cards by Russell Simmons

Visa
Visa
 

The RushCard is a prepaid Visa card. It offers the convenience of a credit card but, without the drawback of owning a credit card from which a bank charges interest for an unpaid negative balance. It's prepaid which means that the money you put on the card sets the limit for how much you can spend.

Many companies have jumped on the prepaid debt card band wagon and most of these cards can be found in almost every retailer accross the country. It's fast, easy, just as secure as a regular credit card, and there is no credit approval process.

The average cost to start up a prepaid credit is anywhere from $9.95 to $14.95 with a minimum deposit of $20.00. With your purchase, you get a temporary Visa card and you call the 800 number to give your personal information to authenticate you are the person who purchased this card. Within 2 weeks, you get a personalized card with your name and a pin number to access your card on debt purchases.

Green Dot is one of the leading Pre-paid Visa Card companies has mastered the business of pre-paid debt cards. Green Dot pre-paid credit cards are reloadable at any Green Dot location and offer a direct payroll deposit option for those who want their paychecks automatically deposited.

I feel the draw backs to making these credit card purchases are the fees. Many cards will charge you a service fee of $2 to $7.95 per month. To reload your pre-paid credit card can cost anywhere from $2 to $4.95 for each transaction. Nothing is free, but if you want the benefits on owning a credit card, then like everything, it comes with a price.

Benefits of a pre-paid credit card is you can control your spending You can only spend what you put on the card. We live in a debt society. Putting things on credit is the American way of life. For those who are prong to abusing credit, a prepaid credit card is a perfect way to control your spending.

If you are someone that is interested in making a determination on what pre-card credit card that is right for you, you can go to www.creditcards.com to compare credit cards and prepaid credit cards.

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Comments 9 comments

luvnlyf 8 years ago

Thanks so much Jaramillo! I was wondering what the fees would be like since I know R.S. has to make money somehow....you answered the questions I had. Thanks for the extra info link as well and WELCOME to Hubpages! Hope you have fun here:)


Jaramillo profile image

Jaramillo 8 years ago from Los Angeles, CA Author

You are very welcome. I didn't realize you were making an actual request. I just saw the question and knew the answer and wrote about it. That was fun


Mary Tinkler profile image

Mary Tinkler 8 years ago from Gresham

I think this would be very good for travelers. Set your limit, you'll have to stick to it. I wonder how this card would work for renting a vehicle....do the rental agencies have to see some sort of expandable balance on a card before they will rent a car?


Jaramillo profile image

Jaramillo 8 years ago from Los Angeles, CA Author

I have never tried that, but they look for the words CASH CARD or Money Card or DEBT right on the card. Some Pre-paid credit cards like Money Mart will say both. Most of the prepaid cards that I have seen don't say that, so unless the rental card companies try to charge your card, you can use it to reserve your rental vehicle.


Julio Pinzon 7 years ago

I enjoy my prepaid debit card, I went with the Pr1macard and find it has a lot of nice added features that makes my life easier. I get free calling minutes everytime I load the card, and it helps me keep in touch with my family in Colombia.


multimastery 7 years ago

Great information Jaramillo!

And you touched on a very good point in mentioning how a prepaid credit-card can help in controlling spending and debt issues.  I touch on that issue in my Accountnow hub as well.  I have been using the Account prepaid debit card for a while now and it has been Fantabulous! 

http://hubpages.com/hub/Prepaid_Debit_Card_Custome...


sf 7 years ago

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CHEVI LEWIS 7 years ago

I NEED TO KNOW WHERE CAN I GO AND RELOAD MY BABY PHAT VISA DEBIT CARD


Jaramillo profile image

Jaramillo 7 years ago from Los Angeles, CA Author

Rushcards including Babyphat can be reloaded at Walmart and CVS retailers or where you can find the Moneygram logo.

Here's the link for more information. https://www.rushcard.com/howitworks/add.aspx#2

You can always call Customer Service on the reverse side of the card for assistance. I hope this is helpful.

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