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Credit Card Reviews » Baby Phat Prepaid Visa® RushCard |
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In-Depth Credit Card Review: |
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The Baby Phat Prepaid Visa® RushCard® is issued by Manufacturers and Traders Trust Company. It is a card that requires payment in advance in order to make future purchases when a credit card must be used, or is most convenient to use. This stored value card is designed for those who may have had difficulty obtaining a traditional credit card for many reasons in the past.
There are a few features of this card that are quite unique. First, the card offers shopping discounts at participating retailers. This is different from most other prepaid cards because most of them do not have any associated benefits or services for cardholders to take advantage of like those often offered by traditional credit cards. The Manufacturers and Traders Trust Company also offers a refer-a-friend program with this card. The cardholder can earn money by referring friends and family to the program. For every applicant who becomes an active member of RushCard®, the referring cardholder will receive $5 on their own card to use toward purchases.
There are very few fees associated with the RushCard®. There is a one-time activation fee of $19.95, but there is no monthly maintenance or participation fee. There is also no interest applied on the account like most traditional unsecured cards. There is only a $1 transaction fee for every purchase made with the card. Although the issuer charges no reload fees, there is a flat fee of $3.95 when a cardholder uses the "Money Gram" transaction option at a designated loading point merchant. Banks may also assess a fee when transferring money to and from a RushCard® account.
Like with many other prepaid cares, it should be noted that this card does not report to credit bureaus. Therefore, cardholders attempting to build credit will not benefit from this card. Like all prepaid cards though, cardholders cannot get themselves into debt using this card, so it is a good alternative for many consumers.
Therefore, those who are looking for a stored value card without many associated fees would benefit from considering what Baby Phat Prepaid Visa® RushCard® has to offer. As with any prepaid card, cardholders are able to reap the benefits of having a Visa card without the chance of getting into debt. Unique to this card, there are also the benefits of discounts at participating retailers and the possibility of earning spending money with the refer-a-friend program.
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| (Review Updated: January 14, 2008) |
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| Finance Configuration: |
| Additional Cardholders: n/app |
| Late Payment Fee: |
| Over-The-Limit Fee: n/a |
| Cash Advance Fee: $1.95 for domestic ATM transactions; $3.50 for international ATM transactions |
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| Minimum Credit Limit: n/a |
| Maximum Credit Limit: $9,999 |
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| Type of Reward: None |
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| Additional Features for Baby Phat Prepaid Visa® RushCard: |
Cash back rewards at participating retailers.
Various Internet account related services.
Lost and stolen card reporting.
See website for additional cardholder benefits. |
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| Important Notes for Baby Phat Prepaid Visa® RushCard: |
No security deposit required.
There is a $1 transaction fee for each purchase, which is capped at $10 per month (all additional transaction fees will be refunded).
The $19.95 activation fee will be deducted from the initial load amount made on the card.
Various additional fees associated with the card, see website for additional details.
Any child between the ages of 13-15 wishing to apply for a Visa RushCard will require parental consent.
See website for complete terms and conditions of card usage and application disclosure. |
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| Notes: The review on Baby Phat Prepaid Visa® RushCard was updated on January 14, 2008. The review is believed to be accurate during the update, however, information posted may have changed since the update.
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