I saw an advertisement for fee free prepaid card. Is there a catch somewhere?
Answered on Wednesday, August 4th, 2010 by
James Williams

Prepaid debit cards generally are less expensive than credit cards, yet they do have fees. There may be an activation or set-up fee, monthly maintenance, purchase or ATM transaction fees, online or paper statement fees, account cancellation, card replacement and other fees, like for using a certain service or tool. Fee free or free card in advertisement can usually mean that the card charges no activation fee, free transactions or no monthly fee, but their cost might be built into other fees, like that on direct deposit. To find out for sure, you should read terms and conditions of cardholder agreement. Prepaid debit cards are so diverse and offer so many options, you are sure to find one that offers best low or no fees on features important to you.

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No. You can make only minimum payments each month. You can see the amount of your minimum payment (as well as balance and available credit limit) on your credit statement, which you should receive each month.

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Special financing at Dillard’s is done through their credit card. So you would need credit that is worthy of receiving their card. Which I would expect to be fair credit in the least. However, I would avoid any kind of special financing. It is usually associated with hefty fees and penalties. Many store cards advertise […]

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