Prepaid Credit Card by Baby Phat RushCard

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Entrepreneur Russell Simmons recently broke into the world of financing by establishing the Baby Phat RushCard: a reloadable Visa debit card. RushCard is being marketed to low-income wage earners who have poor credit and, therefore, find it difficult to get approved for traditional credit cards.

RushCard comes in four different designs: Purple Diamond, Black Diamond, Original, and Baby Phat. In this Baby Phat RushCard prepaid card review, we will review the card’s pros and cons and then be sure and check out our free credit card search engine to start comparing credit cards today!

Baby Phat RushCard vs. a Regular Credit Card

First in our Baby Phat RushCard prepaid card review, let’s compare the Baby Phat RushCard to a traditional credit card. Since it’s a prepaid card loaded with credit by either direct deposit or other cash transfers, there is no interest charged on the purchases you make with this card. Also, you cannot spend more than the balance of the card, so you won’t need to worry about spending beyond a credit limit. Once the card runs out of funds, further transactions are denied. And since it’s still a Visa, it’s accepted by any store that accepts Visa credit cards.

Baby Phat RushCard Fees

In the next part of our Baby Phat RushCard prepaid card review, let’s look at the fees associated with using RushCard. There are fees involved: it’s not a free card onto which you load money and spend as you please. There are two types of plans available through RushCard. The Baby Phat RushCard is on the Pay as You Go plan.

There is an activation fee of $19.95 when you get the card, and there is a $1.00 fee on each transaction, with a maximum of $10.00 per month. You can also use your RushCard to withdraw money at ATMs, but there is also a $1.95 fee for each withdrawal, and that’s not including the fee that you will be charged by the financial institution that owns the ATM you use.

If you want a paper statement, that’s another $1.00 fee per month. And if you want to pay your bills using RushCard, there’s an initial $2.00 enrollment fee and then a $1.00 fee every time you pay a bill using the card.

A Solid Option for Some

Ultimately, though, even with the fees, the cost of using the RushCard for a month isn’t as expensive as even one overdraft bank fee, and it’s certainly less than credit card fees. To conclude our Baby Phat RushCard prepaid card review, we’d say it’s a solid financing option for those who have trouble managing a traditional bank account or credit card. Just be aware that there are fees involved so that it’s not a surprise when your account is charged.

The Baby Phat Rush Card has some unique features and benefits and you can even enter to win a lunch with Russell Simmons but of course the most important things for you to keep in mind are the actual benefits and features of the card!

The Baby Phat credit card is a solid prepaid credit card or even a solid choice as a credit card for those with bad credit but to find the best card for your needs be sure and check out our free tools for comparing credit cards today!

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Disclaimer: This content is not provided or commissioned by American Express, Visa, MasterCard, Discover, or any other credit card company or issuer. The opinions expressed here are the author's alone, not those of any credit card company or issuer, and have not been reviewed, approved or otherwise endorsed by any credit card company or issuer. Credit Card Chaser may be compensated through various affiliate programs with advertisers. As always, Credit Card Chaser is an independent website commmitted to helping people research credit card offers and find the best credit card!

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