Visa cash card

The VISA cash card is incredibly popular. It made history at its Atlanta Olympic Games debut in 1996 as a revolutionary new kind of credit card: a "smart card" or "stored value card".

A VISA cash card got me back on my feet. Now my 15 year old son has one. It teaches him good habits so he never messes up his credit like I did. (Paul Dunlap)

Today these have morphed into the the VISA prepaid credit card - the market leader in prepaid cards.

One thing you MUST understand is that prepaid VISA credit cards are not really CREDIT cards at all. VISA cash cards work more like debit cards - you must first deposit the the money before you can use it. The bank or other lender does not lend you any money (that is, extend you credit) as with a traditional credit card.

So what makes VISA cash cards so good?

There are several features that make a prepaid VISA credit card an excellent option in certain circumstances:

1. They are easy to obtain and generally do not require a credit check.

2. It is IMPOSSIBLE to get into TROUBLE with them because you are never spending money you do not have.

3. They are very flexible and work exactly like a VISA, a MASTERCARD, AMEX, or any other well know credit card - you can make purchases worldwide, including by telephone or Internet and even PayPal, and draw cash from hundreds of thousands of ATMs.

4. Depending on the card, they can be given to children as young as 13.

5. They can be used to rent a car.

From this you can probably see why these cards are so popular with people who have damaged credit, and as "teen cards" or "starter cards" to get kids educated about card use before they plunge into a conventional credit card use.

On the downside, some prepaid VISA credit cards have been criticised for high fees.

The best way to learn about these cards is direct from the horse's mouth - VISA's own corporate website has the latest authoritative information on VISA reloadable and prepaid cards without any irritating sales pitch.

(As you know, here at www.Credit-Cards-Comparisons.com we provide true consumer credit cards comparisons information and DO NOT sell credit cards.)

The big breakthrough for prepaid VISA credit cards was when the cards became available for over the counter purchase at retailers like Wal-Mart, and through reputable online sites.

In the past, The FTC has had to intervene because of deceptive VISA prepaid card marketing practices, especially in the subprime market.

1. The Prepaid Visa RushCard is my personal favourite prepay credit card. It does have a $19.95 one-time activaion fee, but there are NO monthly, annual, or hidden fees. This card was specially created for people without strong relationships with traditional financial institutions by the philanthropist Russell Simmons.

You can read about Russell developing his prepaid VISA card here.

Everyone is eligible for the Rush Visa card and there is no credit check or employment verification. It offers free 24/7 customer service, activity status, & balance inquiries, and is definitely not a "second class" card!

2. The Baby Phat Prepaid Visa RushCard was also developed by Rusell Simmons and is part of the RushCard prepay family. The fee structure is a little more complicated but basically it offers the same one-tme $19.95 activation fee and no monthly fees. It does have a $1 fee per purchase, but this is capped at $10 per month. It is my second choice for a prepaid Visa credit card.

Consumer Reports endorses VISA cash cards

Two of the Consumer Reports top 4 cash back cards are from VISA:

1. Capital One No Hassle Cash Rewards

2. Chase Freedom Visa.

Note: These are EXCELLENT deals and represent some of the best value avaialable in today's volatile credit crunch marketplace. They are NOT for people with damaged credit: The Average U.S. Credit Score: 692. The cost to see yours: $0.

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