"I Love This Card."

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Written by: monkey909 on 2010-05-25

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monkey909's review: Callout Comment My husband didn't have any credit and needed some positive accounts. I searched and searched and found this card. Yes, it does have fees. But, I would pay double for what it does.

It has two sides to it: One is a cash account, you may use it to pay bills or get money out of an ATM machine. The other side is a credit card, and you fund it by putting money into it from your cash account. So you control your credit limit. If you use it as a credit card it will be reported to all 3 major CB's.

You can fund it will direct deposit or through sending money from MoneyGram and places like that. It's very easy! I do not like that I have to pay moneygram a fee to send it and then pay the card to accept it. BUT: Direct Deposit is FREE. So that's how we fund it. We put $250 a week in for my husbands expenses like gas and food. And the rest goes into our regular checking account for household bills.

It does show up as a secured credit card after about 90 days. And it will never ever become a true unsecured credit card, but it is the quickest and most versitle card I found.

I just filed BK and I'm going to get this card as well. They are closed to new applicants at the moment but as soon as they start taking more, I will be first in line.

Good luck with road to credit redemption!!


Comment 1 by brownfox79
Re: I Love This Card. User Icon on 2010-05-30

Remarks Glad to here you and your husband like this card a lot. I've had mine since 04/2008. One word of advice to save you from the loading fees, is to load your card through Paypal - it's free that way.(That's if you have a Paypal acct.)

Before I became aware of this I too was loading every week at a cost of $3.95 ea. So, if you do have Paypal save yourselves time and money by loading that way.
Comment 2 by wanderer
Re: I Love This Card. User Icon on 2010-06-01

Remarks Thanks for the explanation on how this card really works.
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