Credit Card Review & Application
|APR on Purchases:||N/A *|
|Card Issuer:||Other Issuers|
|Card Category:||Consumer (Stored Value)|
|Card Type:||- Card for Bad Credit|
- Co-Branded Card
- Guaranteed Approval
- Prepaid Debit Card
- Tax Refund Card
|Credit Needed:||Bad Credit OK*|
The TurboTax Tax Refund Visa Card is a reloadable prepaid Visa card which is aimed at people who are expecting a tax refund, but have no bank account. Normally such individuals would face high check cashing fees. However, a prepaid debit card like this one has no credit check and no bank account is required, making it a useful option for those people who cannot get a bank account due to poor credit.
The card allows you to get your tax refund in as little as 8 days, as opposed to the 6 to 8 weeks it takes to get a paper check. It is more secure than receiving a paper check in the mail and then once in use, is more secure than carrying cash around. Any money deposited on the account is protected should your card ever be lost or stolen, although there is a replacement fee for this service.
The card can be treated as a credit or debit card and be used to pay bills, shop online, or make purchases at various retail outlets nationwide, wherever Visa is accepted. You can also withdraw money from the account free from a wide network of participating ATMs.
If you take out cash at an ATM outside this network there will be a small fee. The card carries a monthly fee, however this is waived for customers who either make so many purchases on the card per month or who deposit at least a certain amount onto the account each month. If the monthly charge applies, it is assessed on the first day of the cards billing period.
The card also offers an opportunity for cardholders to track their spending and balance with email or text alerts so that you will always know the amount of funds on the card. The card works just like a traditional credit or debit card, although it is not subject to the associated fees and interest charges.
There are however fees for certain services, so it is important to read all of the fine print and be aware that certain types of transactions, such as using the card outside the United States might cost you.
Even if the card is opened solely to receive a tax refund, it can be used regularly afterwards. It is easy to reload the card with additional funds. This can be done by direct deposit, which involves having your employer or benefits office deposit wages or welfare benefits onto the card for you.
The card issuer offers a cash reward for signing up for direct deposit. You can also add additional funds at participating retailers using MoneyPak although this does carry a small administration fee.
The review prepared by CreditCardsCo™. Opinions expressed therein are solely those of the reviewer.
|Rewards:||- $10 Cash back when you enroll to Direct Deposit|
|Other Benefits:||- Online related services|
- Free ATM withdrawal at participating network
- Visa card benefits package
*See Terms and Conditions for more benefits
|Comments:||Daily cash load limit: $2,500|
Card balance (with cash load: $3,500
Daily bank teller cash withdrawal limit: $400
Card balance (with direct deposit): $10,000
Daily direct deposit load limit: $10,000
Daily ATM withdrawal limit: $400
Daily spend limit: $3,500
|Online Account Access:||Yes|
|100% Guarantee Approval:||Yes|
|APR on Purchases:||N/A *|
|Late Payment Fee:||N/A*|
|Additional Fees|| |
ATM Balance Inquiry - $0.50
ATM Withdrawal at in Network ATM's - FREE
All other ATM withdrawals - $2.50
Foreign Transactions Fee - 3%
Lost/Stolen Card Replacement - $4.95
Reload at Retail Location - Varies
Second Card - $4.95
Teller cash advance - $2.50
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† The information provided for TurboTax Tax Refund Visa® Card is believed to be accurate at the time of evaluation (May 13, 2019). We strongly advise visitors to review the terms and conditions to verify accuracy of the information posted prior to applying for the product.