Credit Card Review & Application
|Issuer:||GE Money Bank|
|Card Category:||Consumer (Stored Value)|
|Card Type:||- Co-Branded Credit Card|
- Guaranteed Approval
- Prepaid Debit Card
- Tax Refund Card
- Reward Card
|Credit Needed:||Bad Credit OK*|
Whether or not you like credit cards you cannot deny their importance these days. From efficient register processing to online purchases it just seems that you have to have some kind of plastic money. Fortunately, though, for people who prefer to avoid credit or may have trouble with it, the Walmart MoneyCard MasterCard Prepaid Card is available to help you.
Before learning what specific benefits this card offers you it is important to understand the difference between a credit card and a prepaid debit card. Both allow you to pay for products and services that you use without using cash. Obviously, you can use them both online too, which is a tremendous advantage over being a cash-only consumer.
Prepaid debit cards are different from credit cards, though, in that they do not have interest rates and penalty fees. While most debit cards charge a few fees, it is quite likely that these fees will be significantly lower than what you could pay with a credit card. Because of the "prepaid" aspect, you will never go over your limit either.
Most prepaid debit cards also offer a few other benefits. This could include things like no credit check, which is extremely important to people who may have faced credit issues in the past. You are also not required to have a bank account and you can use your card anywhere in the world where MasterCard (in this case) is accepted.
Prepaid cards are reloadable at your leisure too, so you don't have to make payments on a schedule like a credit card. This means that you can use it at your favorite restaurants and stores or make an airline or hotel reservation when they require a credit card.
MasterCard-supported prepaid debit cards also have the security of MasterCard Zero Liability insurance (which is basically the same thing as the program offered by debit cards backed by Visa). This protects you from having to pay for unauthorized charges in the event that your card is lost or stolen.
Similarly, you can rest assured that you will continue to have peace of mind when you submit your information online; after all, fraud and identity theft are common problems these days. If you want to monitor your account yourself, you can also take advantage of e-mail and SMS text message alerts that let you know when your card is processing, when purchases have been made, or when a payment is due.
This Walmart-affiliated prepaid MasterCard, though, offers you a few more benefits. First of all, you'll appreciate that there are no fees for purchases. This is different from some cards that charge you per transaction, often up to a limit. Some prepaid debit cards charge a fee to add money to your account, but you can avoid that fee when you deposit your payroll or government check into your account either in person at a Walmart store or using the Direct Deposit option.
|Other Benefits:||- Online related services|
- Safer than Cash
- Easy to get, use and reload
- Optional Green Dot MoneyPak
*See Terms and Conditions for other benefits
|Online Account Access:||Yes|
|100% Guarantee Approval:||Yes|
|APR on Purchases:||N/A *|
|Late Payment Fee:||N/A*|
|Additional Fees|| |
ATM Balance Inquiry - $1.00
ATM Cash Transaction - Domestic - $2.00
ATM Cash Transaction - Intl. - $2.00
Additional Personalized Card - $3.00
Additional Student Edition Card - $0.00
Card Reload at Green Dot - varies
Card Reload at Walmart - $3.00
Card Reload at other Locations - varies
Foreign Transactions Fee - 2%
Lost/Stolen Replacement - $3.00
Monthly Maintenance Fee - $3.00
Rush Card Delivery - $20.00
Teller Cash Transaction - $2.00
|We do not offer online application for this card at the moment.|
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† The information provided for Walmart MoneyCard MasterCard Prepaid Card is believed to be accurate at the time of evaluation (Nov 1, 2012). We strongly advise visitors to review the terms and conditions to verify accuracy of the information posted prior to applying for the product.