Friday, January 23, 2009

Green Dot Credit 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 no credit check or bank account required for approval. There is a $4.95 monthly fee 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.

It is issued as a Visa or MasterCard through the Columbus Bank and Trust Company.

You can upgrade your account to Premier Membership; the benefit is priority customer service. The fee for this is a one time payment of $20.

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.

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.

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 that there are additional fees for priority service. We feel that when it comes to your money you are entitled to priority service. - 15224

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