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Wired Plastic™ Prepaid Visa® Card

	Overall Rating 5.0 Benefit Rating 0.0 About Ratings	Apply Now	BALANCE TRANSFERS		INTRO RATE		APR (PURCH)	APR (CASH)	ANNUAL FEE
			Rate	Duration	Rate	Duration
			N/A	N/A	N/A	N/A	0.00	0.00%	$0

Rates and Fees

Card Type	Visa
Introductory Rate Offer	n/a
Card Status	Standard
APR for Purchases
APR for Cash Advances	0.00%
Annual Fee	0%
Annual Fee for additional cardholders
Grace Period
Minimum Credit Limit
Maximum Credit Limit
Late Payment Fee
Over the Limit Fee
Cash Advance Fee	$1.95 for U.S. ATM transactions; $4.95 for international ATM and bank teller transactions
Balance Transfer Fee

Rewards Information

Points per Dollar Spent	1 Point
Additional Points	None
Miles per Dollar Spent
Additional Miles
Additional Perks	Various Internet account related services. Automatic bill payment. Free direct deposit load option. Access to the Wired Points Rewards program. See website for additional benefits.

Important Notations:

No credit checks. No bank account required. Must be a U.S. citizen and have a social security number to get approved. Not available to residents of Puerto Rico, Guam, Virgin Islands, or America Samoa. No income requirement. No employment verifications. No security deposit. Various additional fees associated with the card, see website for details. See website for complete terms and conditions of card usage and application disclosure.

Wired Plastic™ Prepaid Visa® Card

Issued by Visa

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Most Attractive Feature(s): No credit checks; no annual fee; no security deposit required; no bank account required; access to rewards program.

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Least Attractive Feature(s): Activation fee; monthly maintenance fee.

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Description

The Wired Plastic™ Prepaid Visa® Card, issued by The Bancorp Bank, is a stored value card designed for those who may have difficulty in obtaining an unsecured credit card. Although the card does not require a security deposit, it does require payments in advance, which are then used to offset future purchases made with the card. There is no interest applied on the account, no annual fee, and none of the other charges similarly found with most unsecured credit cards. There are also fewer credentials required in comparison to common unsecured credit cards, such as a no credit check policy, no employment verification, and so forth. Nevertheless, it is important to note that there are some fees associated with this card, such as a one-time application fee of $9.95, a monthly maintenance fee of $3.95 ($47.40 annually), and a minimum initial load amount of $10. So in the first year alone, a cardholder can expect to pay a total of $57.35 in fees. This is very reasonable for this type of card. It is common for stored value cards to lack benefits; however, this card does offer automatic bill payment, direct deposit, and access to a unique reward program. Through the Wired Points Rewards program, one point is earned for each dollar spent on purchases made with the card. Points do not expire and there is no limit to the number of points that may be earned per year. Points can be redeemed for long distance calling cards, music downloads, a variety of ring tones, and prepaid wireless airtime at participating partners. Therefore, those who are looking for a stored value card to pay in advance for purchases, do not mind paying upfront fees, and will take advantage of the reward program may find the Wired Plastic™ Prepaid Visa® Card to be a beneficial option.

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Updated: Apr 1 2009 1:04PM

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