This review is for the Bank Freedom Platinum Visa Prepaid Card. This card is not a credit card, but rather a prepaid card that offers all the conveniences of a credit card without many of the fees, interest and annual fees. The Bank Freedom Platinum Visa Prepaid Card offers guaranteed approval for anyone who applies.
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Bank Freedom Platinum Visa Prepaid Card Details
The Bank Freedom Platinum Visa Prepaid card does not charge a fee for setting up direct deposit. Direct deposit can be set up through your employer, or can be used to receive benefit checks such as unemployment or social security.
In addition, when you set up direct deposit you will receive an automatic $30 cash credit on your card.
There are no fees for making purchases, and there is no charge to activate the card. These are important features as many prepaid cards charge for both, but the Bank Freedom Platinum Visa Prepaid card does not.
You can receive account updates including balances and transactions through your mobile phone, and if you deposit enough money each month onto the card, currently at $2,000 per month, you will never pay a monthly fee.
There is no credit check, and no matter what your credit history has, you are guaranteed to be approved.
Bank Freedom Platinum Visa Prepaid Card Benefits
The Bank Freedom Platinum Visa Prepaid card offers a fraud protection program at no additional charge. This gives you complete protection in case your card is lost or stolen. If any unauthorized purchases are made after you have reported your card missing, you will not be held liable for those charges.
You can also access your account activity online at any time, and even set up bill payments using the card. The card can be used anywhere were Visa is accepted, and can be used at many ATM’s. There is a $2.00 withdrawal fee for using the card.
Bank Freedom Platinum Visa Prepaid Card Bottom Line
With very low fees, the opportunity to earn a cash rewards, and free customer service, the Bank Freedom Platinum Visa is an excellent prepaid option. Many card charge high fees to use the card, but this one only requires direct deposit to avoid many of the fees.