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Thursday, January 1, 2009

Green Dot Prepaid Card - Review

By Dan Moskel

The Green Dot Credit Card is a prepaid credit card. It is frequently used by individuals that don't have a checking 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 a monthly maintenance fee of $4.95 however if you deposit $750 or more monthly this fee is waived. There is no credit check or bank account required for approval.

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

There are however some criticisms of this card such as; the number of fees and poor customer service. There is a reload fee of $4.95 when you use MoneyPak.

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 your account for Premier Membership at a cost of $20. This will give you priority customer service.

You can purchase this card at retail locations or you can fill out an application online and have a card sent to you within 7-10 business days.

It is commonly used by parents to teach children financial responsibility. Additionally it is a convenient method of providing financial assistance to students that are away at school.

Should your card be lost of stolen your money is protected, creating a much safer alternative to carrying cash.

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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