Green Dot Credit Card
The Green Dot Credit Card is a prepaid card. This means you must first deposit money on your card before it can be used to make purchases.
It is issued through Columbus Bank and Trust Company as a Masterard or Visa. It offers guaranteed approval and their is no credit check.
There are two methods to deposit money on your card.
1. Direct Deposit - this is free.
2. Buy a Green Dot Money Pak - $4.95 - available at thousands of retail locations. (CVS, Rite Aid, Eckerd, ...)
Your card will be accepted online and over the phone. And at millions of locations worldwide.
You can also withdraw your cash at over 900,000 ATM's. And your money will be safe if your card is ever lost or stolen.
Benefits
- Guaranteed Approval
- No Credit Check
- Safer than Carrying Cash
- Accepted World Wide
- Free Direct Deposit
- Easy Way To Track Spending
Green Dot - Suggestion
Yes, we do suggest the Green Dot MasterCard & Visa. It is a great alternative for those without a checking account because it will save you money on check cashing fees.
And it guarantees approval and works just like a checking account or bank card.
The drawbacks are if you do not use direct deposit it is going to cost you $4.95 every time you deposit money on the card.
If you deposit money just twice a month then you will pay $118.80 just in deposit fees over the course of a year. I am sure you can find a better way to spend your hard earned money.
Additionally you will be required to pay a $9.95 activation fee or a 19.95$ activation fee if you sign up for "Premier Card Membership."
The most noticeable difference in these two plans is if you pay the $19.95 activation fee you will get "priority customer service".
This is cause for caution. We feel that when it comes to your hard earned money everyone should get priority service. Additionally the Green Dot Card will not help build your credit history.
It comes with; Free Direct Deposit, Free Online Bill Pay, Free Credit Builder, And a low $4.95 monthly maintenance fee.
For most prepaid cards their monthly maintenance fees start at $10.00 a month. And best of all you will never be charged an overdraft fee or have to pay any interest charges with the READYdebit Prepaid Visa.
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