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Ripoff-Prepaid Vision Debit Card

Discussion in 'The OT' started by Tim Godsil, Dec 28, 2009.

  1. Tim Godsil

    Tim Godsil Legend

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    Dec 3, 2007
    Im putting this out here so no one makes the same mistake as I did.

    My current online debit card charges a 10 dollar a month maint. fee. That dosent seem so bad. But I usualy keep only 20 to 30 dollars on my card.

    So I was looking online to find a cheaper place.

    That company is Vision Prepaid

    The site says I would be charged a 4 dollar a month fee. So I filled out a online form and a week later I had my card.

    So I put 50 on it and go to town to buy stuff.

    I tried using debit to get cashback, but twice I get declined.

    So I ring it up as credit and go home.

    I had only spent arround 10 dollars. Yet my balance was 23.55.
    So I went into my account and I noticed a 12.33 Authorizations fee.

    Since my card declined twice, they charged me a 2.95 fee each time.
    They also charged me a 10 dollar activation fee.

    Both of these fees were not mentioned in the terms and condtions.

    So I call the customer care center. The menu said I would be charged 1.95 to speak to a represenitive!!. So I hung up.

    This is utter BS. The terms and the site said a weekly fee of 95 cents.

    Not on any part of the site or the Terms does it mention paying 2.95 for a declined card or a 9.95 activation fee.

    So I am going to call my local news' consumer report line, the better business beauru and Im going to write the company a letter saying I would like my money back and False Advertising is illegal.

    So please do not sign up for this card. They practice false advertising.
     
  2. Mark Holtz

    Mark Holtz Day Sleeper DBSTalk Club

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    Sacramento, CA
    I use a HSA through work. Works out much better, doesn't cost me anything, and occassionally, they bug me for paperwork (like after a dental or eye exam).
     
  3. tcusta00

    tcusta00 Active Member

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    Dec 31, 2007
    I don't think he's talking about that kinda thing.
     
  4. dave29

    dave29 New Member

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    I don't really understand the point of even getting one of these debit cards. :shrug:
     
  5. tralfaz

    tralfaz Duplicate User (Account Closed)

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    Oct 31, 2009
    Me either. Why pay anything?
     
  6. Tim Godsil

    Tim Godsil Legend

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    Dec 3, 2007
    Because if you have your wallet stolen or loose money, the robber has all your cash.
    With (most) Debit cards, if its stolen and the robber spends your money, you can usualy get it back.
     
  7. dave29

    dave29 New Member

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    Feb 18, 2007
    Every Debit card with a Visa or Mastercard logo will reimburse you.

    Plus, you can always call your bank and tell them it was stolen and they can deactivate the card right away. (I have done this before)
     
  8. tralfaz

    tralfaz Duplicate User (Account Closed)

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    Oct 31, 2009
    OK, but don't most banks give debit cards for free (mine does)? And can't you call and cancel a CC too? I can see the reasoning for not wanting to carry cash (although I don't subscribe to that theory, myself), but I don't understand paying $4 - $10 per month for a debit card.

    Even if you carry $100 all the time and you get your wallet stolen EVERY single year, are you really saving any money?
     
  9. coldsteel

    coldsteel Hall Of Fame

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    Mar 29, 2007
    Some people don't want a bank holding their money. Of course, the prepaid cards are on a bank anyway...
     
  10. rudeney

    rudeney Hall Of Fame

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    May 28, 2007
    There are huge issues with debit cards tied to your checking account. While you will get reimbursed for any fraudulent charges, you can still be in a world of hurt because of related overdrafts. For example, you have $2,000 in your account and you make $1,000 mortgage payment and a $600 car payment, but before those checks clear, your card number is stolen and the thief gets away with $1,500 of your money. It may take the bank a week or two to credit it back to you and in the mean time, your mortgage and car payments bounce. Your bank will charge you $30 each and then your bank and mortgage company will also charge similar fees (unless they really want to be jerks and your state allows them to charge treble damages and end up taking you to court). Since it will take a week or two to get the money creditted back into your account, you can't make good on these bounced checks in time, so now you get hit with late fees on top of that and possible blemishes on your credit report. Your bank may credit their NSF fees, but they almost never deal with those other payees. Debit cards tied to your bank account are just bad news. My advice is if you want one, get it on an account other than the one where you keep your money. Get an account at a bank offering free or low-cost checking and use that as a "rechargeable" debit card account.
     
  11. tralfaz

    tralfaz Duplicate User (Account Closed)

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    Oct 31, 2009
    I have overdraft protection. I don't think I could bounce a check if I wanted to.
     
  12. rudeney

    rudeney Hall Of Fame

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    May 28, 2007
    How much does it cost you and how much does it cover? At my bank, they charge an annual fee of about $25, then it costs $25 plus 26% APR if it kicks in. On top of that, they only cover up to $1,500. Of course if it happened due to fraud, I guess my bank might credit all that back, but why deal with the hassles? I have a debit card only because that's the only type of ATM card my bank will issue to me. They will issue an ATM-only card, but only for customer's who don't qualify for a debit card based on credit scores. Anyhow, I hardly ever use it. I use AMEX for literally everything I can. The only time my debit card is used is when the merchant does not take AMEX and is someone I trust. For example, the place where I have my hair cut only takes Visa/MC/debit. I only use my bank's ATM's, or, in a pinch, I only use the ATM's of other large banks - never those no-name kiosk ATM's. I believe people who use their debit cards all over the place are just pressing their luck.
     
  13. dsw2112

    dsw2112 Always Searching

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    Jun 12, 2009
    This is a REALLY bad deal when you figure that your $10 is the equivilant of paying 33% in interest on your $30 dollars. Most would not be happy with that percentage on a credit card... Even paying $4 a month on $30 is 13%. In general prepaid cards are geared to make the issuer a LOT of money!

    I can understand the hesitation for a bank debit card on different levels BUT you can find a number of banks that will allow very low deposit levels <$100 and give you a debit card for free. Why not put your $50 in one of those accounts? Any bank fees will probably be vastly less than your prepaid debit card situation AND you'll still get the protection.

    There are different kinds of overdraft protection, the case listed above would be a line of credit. You can also link to your savings for overdraft (my bank does this with no added costs incurred.) Of course it would not be wise to link to an account with a very large sum...
     
  14. dodge boy

    dodge boy R.I.P. Chris Henry

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    Mar 31, 2006
    Yeah but you just got robbed by the person selling you the card.... :rolleyes:

    1.) Carry the fifty bucks in your front pocket and carry an empty wallet or a wallet with 5 bucks in it and some expired credit cards for "looks".

    2.) carry a gun

    Always use cash so no one can track your purchases yet, until they RF chip the money....
     
  15. jeffshoaf

    jeffshoaf Icon

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    Jun 17, 2006
    If you're elegible to join any credit unions, you can get a much better deal. CU's are much more flexible on membership now - the one I belong to through work will let any of my family members join by making a $5 deposit and I can be a member for life, even when I leave my employer. I just have to maintain a $5 balance in a savings account. I have two savings accounts and a free checking account (I just have to pay for blank checks, which I hardly ever use since getting on-line bill pay).

    I have a Visa credit card w/ no fees and a relatively low rate (that I never have to pay as I pay it off each month) and a Visa debit card w/ no fees. I also get free on-line bill pay since I signed up for the "paperless" option - I have to view/print my statements on-line instead of getting a printed copy in the mail. I can use a lot of teller machines with no fees.

    Big difference between a non-profit credit union that exists to serve it's members and a for-profit bank or debit card company!
     
  16. Tim Godsil

    Tim Godsil Legend

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    Dec 3, 2007
    the whole point is they charged me fees that they didnt mention
     
  17. elaclair

    elaclair Rescued Racers Live Here

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    Del Mar, CA
    I think you need a better bank. On mine, if the card is stolen and someone charged $1500 on it, all but $50 would be credited back the day I report the theft. ($50 is the liability limit...it will get credited back as soon as they verify the theft). There's no charge for the service, and the debit card is free.
     
  18. tralfaz

    tralfaz Duplicate User (Account Closed)

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    Oct 31, 2009
    It costs me nothing. First they'll take it from my savings which usually has a few thousand in it. After that, a line of credit starts. Never had to use either, though.
     
  19. Doug Brott

    Doug Brott Lifetime Achiever DBSTalk Club

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    Los Angeles
    Sounds like most people are already avoiding prepaid debit cards completely, let alone this particular one.
     
  20. tcusta00

    tcusta00 Active Member

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    Dec 31, 2007
    Come on man, tell the truth if you're going to come out with guns blazing against a company on a public forum. According to the Cardholder Agreement on their website both of those fees are fully disclosed.
    I'm not saying this company is right in charging these exorbitant fees but please don't lie. Caveat emptor.
     

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