The Acclaim Prepaid Visa Card is not a credit card, but can be used in many places where credit cards can. Accepted anywhere Visa Debit is accepted, the Acclaim Prepaid Visa Card is ideal for those with poor credit who cannot get a credit card; it is also used often by those who do not wish to keep a bank account but would like to keep their money somewhere safe and easily accessible.
Like other prepaid credit cards, the Acclaim Prepaid Visa does not extend credit to the cardholder. This is why it’s available to anyone no matter what their credit rating. No credit checks are required; the user must only be able to verify their identity and other basic information, and make the initial payments required. After setup, the cardholder simply deposits money into their card’s account, and makes purchases and withdrawals against that money. The account is only good for the balance applied. This card can be used anywhere Visa Debit is accepted, including on many online and telephone purchases, which is an advantage over simply keeping money in a checking account. However, the convenience of this card does come at a price.
There are various fees associated with usage of this card. Direct deposits from employer payroll, which are available, cost $1.00 per deposit, as do reloads from a bank account onto the card. Purchases carry a general cost of .50 cents. ATM withdrawals have a fee of $1.50. Considering the charges often associated with using a bank card or credit card to make cash withdrawals, these fees are not overly high. However, the cost on deposits and day-to-day purchases is a disadvantage of this card. There is also a fee of $15 to $25 for overdrawing the account.
Aside from having paychecks directly deposited onto the card, members can also make deposits into the card account via mail, with an approved deposit slip included. At this time there are no locations at which to make in-person deposits onto the card, which is a feature that some other prepaid cards do have. Although there is no limit to how much can be loaded onto the card via employer payroll, it’s important to note that the cardholder may not load more than $500 or less than $25 onto the card at any one time from their funding account.
There is no limit on purchases in a certain time period, but no more than $300 cash per day can be withdrawn or no more than $50 advanced as cash during a purchase.
If someone is interested in the freedom and flexibility that comes with a debit card, and does not wish to receive a debit card attached to a bank account for any reason, then the Visa Acclaim Credit Card can fill that need. It has disadvantages to a bank account, most notably the fees associated with usage and the limits on withdrawal, as well as the fact that no interest accumulates on the balance kept on the card, as it does in a checking or savings account. However, the advantage of online purchasing power as well as the ease and acceptance involved with holding a Visa card may outweigh those disadvantages for some people. For those who are interested in the convenience and not worried about the fees, this card can offer a quick and simple solution to budgeting problems or money storage needs.
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