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Credit Card Reviews » Prepaid Visa® RushCard |
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In-Depth Credit Card Review: |
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If you have had difficulties in the past getting a traditional credit card due to poor credit or lack of credit, among other reasons, the Prepaid Visa® RushCard® may be for you. This card is issued by Manufacturers and Traders Trust Company. This card is a stored value card. This means that you make deposits onto the card for future purchases to be made. This is very handy when a credit card is needed, or simply more convenient.
There are several features unique to this card. Many traditional credit cards come with a special offer like earning air miles or saving for college education. Most prepaid cards do not offer these same benefits, but this one does. Cardholders receive discounts at all participating retailers. The issuer of this card also offers a refer-a-friend program. For every friend or family member you refer that becomes an active member of the RushCard® program, you will earn $5 on your card to spend any way you like. Who doesn't like a little free spending money?
The RushCard® also has very few fees in comparison with other prepaid cards. 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, which is capped when you have made 10 purchases ($10 per month). Any additional purchases would not be charged this fee.
A cardholder can place money on the account whenever they like through PayPal with no charges from the issuer. However, if they want to use the "Money Gram" transaction option at designated loading point merchants, there is a flat fee of $3.95. Banks may also assess a fee when transferring money to and from a RushCard® account.
Unfortunately, the activity on this card is not reported to credit bureaus, so if you are looking to build your credit this card may not be for you. On the other hand, if you are looking for a good card to help you stay out of debt and use your money wisely by paying for your own purchases ahead of time, this may be the perfect card for you.
In conclusion, those who are looking for a prepaid card with low fees and unique benefits, like store discounts and the opportunity to earn spending money with the refer-a-friend program, would benefit from considering the Prepaid Visa® RushCard®.
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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 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 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.
Any child between the ages of 13-15 wishing to apply for a Visa RushCard will require parental consent.
Various additional fees associated with the card, see website for additional details.
See website for complete terms and conditions of card usage and application disclosure. |
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| Notes: The review on 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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