Should I Get a Walmart Card?

A Look At The Walmart Money Card

If you are a frequent Walmart customer, you know that in their large stores, they have just about everything you need for your every day life. Did you know that they also offer the Walmart money card that offers a way for those with damaged credit.

Much like a secured credit card, a prepaid card offers an alternative for those with damaged credit who cannot qualify for a traditional unsecured credit card. While the Walmart money card isn't a secured credit card, it is similar.

Those with negative entries on their credit report will be happy to know that there is no credit check to get this card and no bank account is required. Instead, you receive a reloadable card where putting more money on to it can be done either by direct deposit or by cash or check.

Your Walmart money card can be used anywhere that a Visa card is accepted. Use it to pay all of your utility bills, buy groceries, or anything else. You can follow your credit card balance either online or by receiving alerts on your cell phone.

Here's how it works. First, you purchase the card. There is an $8.94 issuance fee that you must pay when getting the card. Next, if possible, you will want to set up a direct deposit. Direct deposits do not cost you any money so this is the best way to fund your card.

Beware, though. As is the case with many prepaid cards or any card for higher risk customers, the fees that accompany these offers can be quite high. As we said, to open the card, a one time fee of $8.94 will be charged. After that, a $4.64 monthly fee is charged and each time the card is reloaded, it costs $4.94. To avoid the reload fee, have money directly deposited on to your card.

You will also not be charged the $4.94 reload fee if you cash a paper check. You will, however, have to pay the $3 check cashing fee but this is still cheaper than taking your check to another place for cashing.

Also, try to avoid ATMs. If you check your balance at an ATM, it will cost you 75 cents. If you make a withdrawal, you will be charged a $1.95 fee. If you need to withdrawal money, go to your local Walmart where it will cost you nothing.

If you would like a monthly statement, Walmart will charge you $3 per month. As you can see, although this card is convenient, it has a whole host of fees. What makes it good for those with damaged credit is that you cannot be overdrawn so those $39 fees that you may have been accessed at your bank won't happen with this card.

If Walmart is your grocery store of choice, the Walmart money card may be able to help you keep your finances in order by avoiding bank fees and having a safe and secure place to keep your money when a traditional bank account is not an option for you. Visit your local Walmart or the Walmart website for more information.

------------------------

For more about the Walmart MoneyCard visit us at http://yourbadcreditvisa.com/walmart/

Source: http://www.submityourarticle.com

Permalink: http://www.submityourarticle.com/a.php?a=229173