Instead of saving you money, this card will nickel and dime you to death.
Who the Prepaid Visa Rush Card Is For
- People who want a Visa card without a credit check.
- People who want an alternative to a secured credit card.
- People who don't like banks.
Credit Rating Required
- No credit check required
About the Prepaid Visa Rush Card
- No credit check required.
- Free direct deposit.
- High fees.
- No monthly fee waiver.
- No free bill pay.
- No preauthorized direct debits to pay bills.
- Some merchants can hold your money.
- Cash reload: $1,000 maximum.
- $5,000 limit on direct deposits.
- Maximum balance at any time: $9,999.
- Monthly fee: $9.95.
- $3.00 one-time activation fee on first card load.
- ATM fee: First two transactions per month are free, then $2.50 each. ATM operator may charge its own fees.
- Bill pay fee: $2.00 enrollment fee, $1.00 per payment.
- Retail locations may charge a fee to reload.
Prepaid Visa Rush Card Review
The Rush Card's website claims that it will save you hundreds of dollars a year by avoiding check cashing, overdraft, and interest fees. Maybe so. But instead of paying a bank, you'll pay hundreds of dollars in other fees on this card.
For starters, you get charged a $9.95 monthly fee no matter what; other prepaid cards waive the fee if you direct deposit a minimum amount per month. You get two free ATM transactions a month, but subsequent ones cost $2.50 each - plus ATM charges.
The Rush card charges a $2 enrollment fee for online bill pay , plus $1 each time you pay a bill. Other prepaid cards don't charge for this service. The Rush Card won't let you preauthorize direct debits to pay recurring bills.
Though the Rush Card touts its convenience, you can't pay at the pump. If you use the card at a restaurant, hotel, or car rental agency, the merchant may charge an additional 20% or more "to ensure there are sufficient funds available to cover tips or incidental expenses incurred." It may take up to seven days for this hold on your funds to be removed, which means you won't have access to your own money. What's that about?
The Rush Card also purports to build your credit history through the free "RushPath to Credit" program, in which all your online bill payments are sent to PRBC, a credit reporting agency. However, as the Rush Card website admits - in tiny, faded typeface that is very hard to read - the program won't help your credit if the lender doesn't consider PRBC, which many lenders don't.
While some people think it's cool to have the Rush Card because it's the brainchild of hip-hop entrepreneur Russell Simmons, it really only benefits Russell, not you. And why are so many things hidden in the fine print (literally)? I'd look for a cheaper, better, un-cool card. Better yet, how about a bank account?