ReadyDebit Prepaid Visa Card Review

Too Many Plans, Too Many Fees

ReadyDebit gives you lots of options: Pay high monthly fees or get nickel and dimed for everything - or both!

Who the ReadyDebit Prepaid Visa Card Is For

  • People who want a Visa card without a credit check.
  • People who want an alternative to a secured credit card.

Credit Rating Required

  • No credit check required

About the ReadyDebit Prepaid Visa Card

Pros

  • Free direct deposit.
  • Free online bill pay (depending on which plan you choose); otherwise $4.00 a month.

    Cons

    • Too many plan options.
    • High and numerous fees.

    Reload Limit

    • Maximum daily load: $2,500 per day.
    • Maximum balance on card at any time: $10,000.

    Rewards

    • None.

    Fees

    • Monthly fee: $3.95 to $14.95, depending on which plan you choose.
    • Card issuance fee: $9.95 (all plans).
    • Reload fee at retail location: $4.95.
    • Purchase transaction fee: $0.95 per transaction or free, depending on plan.
    • ATM withdrawal fee: $2.00 to $2.25, depending on plan.
    • Live customer service by phone: $2.00.

    ReadyDebit Prepaid Visa Card Review

    ReadyDebit gives you lots of options. Unfortunately, all of them are bad.

    You can choose from among four payment plans, which basically let you choose between paying really high monthly fees (up to $14.95 a month) and fewer transaction fees, or paying a lower monthly fee ($3.95 or $4.95) and lots of transaction fees. None of the choices are good, but the high monthly fee plans are the worst.

    For example, if you choose the low monthly-fee plans, you have to pay $0.95 every time you use the card at checkout; there's no fee if you choose the high monthly-fee plan.

    The lower fee plans charge you $2.25 for ATM withdrawals; the higher fee plan charges "only" $2.00.

    All plans charge a $9.95 card issuance fee. Direct deposit is free, and so is online bill pay - unless you choose the Select Plan ($9.95 a month) without direct deposit, in which case you have to pay $4.00 a month to use the service.

    The best plan for most people is the "Control" plan, which carries a $3.95 monthly fee that you can avoid if you direct-deposit at least $1,500 a month. But then you have to pay all of the other fees.

    Recommendation

    The various plans are way too confusing and basically give you two options: pay now, and keep paying later. That's not much of a choice.

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