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Monday, January 12, 2009

Green Dot Credit Card - Review

By Dan Moskel

The Green Dot Visa is a prepaid debit card. Often this is used by individuals that do not have a bank account.

Card holders receive free direct deposit; this can save you money on expensive check cashing fees. It is accepted at millions of locations world wide.

There is no bank account required or credit check. It does have a monthly maintenance fee of $4.95 but this fee is waived if you deposit $750 or more monthly.

It is accepted online and over the phone. You can access your cash at almost one million ATM's world wide.

Frequent criticisms of this card are; the number of fees and poor customer service. It carries a reload fee of $4.95 when a MoneyPak is used to deposit funds.

MoneyPak's can be purchased at many retail locations including; Wal-mart, CVS, Kroger, Walgreens and many more. It does carry a $2.50 ATM withdrawal fee and a $9.95 card activation fee.

This card is issued by Columbus Bank and Trust Company and comes as a Visa or MasterCard.

They do offer an upgrade to Premier Membership; the advantage is you will receive priority customer service. This upgrade costs an extra $20.

Upon completion of your application you will be mailed a card in 7 - 10 business days. You can also purchase this card at many retail locations.

Frequently parents will use this card to teach a child how to manage money. It also gives parents an easy way sending financial help to students that are away at school.

This is a much safer alternative to carrying cash. Also your money is protected should your card ever be lost or stolen.

Using this will give you an easy method of staying within your budget and track your spending. It can also be used to pay your bills such as; utilities, cable, and internet...

In sum we do not suggest this card. We are alarmed at the extra fees for priority customer service. We feel that when it comes to your hard earned money everyone is entitled to priority service.

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