Ready Debit Card – Worst Idea Ever

Ready Debit Card – Worst Idea Ever

    So here is my rant for the day. I wanted to see what options there were out there in regards to Loadable Debit Cards. The idea is to have this card which is separate from a banking account for emergency purposes. They give you the option to transfer money onto the card either through ATMs, in-store sales and direct deposits. If for some reason or another you can’t get a bank account or you just want a separate debit card and account than this would be ideal for you. At least that’s

what I thought. I went ahead and Googled the Top best cards that offer these services and the Ready Debit card I believe was ranked #1 in its kind.

 

First lets discuss the Pros:

100% guaranteed approval
Receive the card in 5 – 7 Business Days
Secure your own Account & Routing number
Easy Bill Pay

Now the Cons:(The only way you find out these Cons is when it happens)

$9.95 monthly Fee for use of the card
Deposit at least $1,500 a month or you are charged a $3.95 Fee
Card issuance $9.95
Customer Service Call $2.00 each

call
ATM Fee of $2.25 plus any charge from the ATM Branch (equivalent to $5.25)
Cash Advance at any $5.00
Withdrawal Limit of $500 per day
Special research and documentation Fee $50.00
Paper Statements $2.00
Replacement Card $10
Debit transaction $2.25
Check the Balance $0.50 each time
Money transfers take 5 Business Days
When you do try the Bill Pay option it states that the Account is Black Listed
Customer service might be the worst I ever worked with

 

   This was hands down the worst decision I made financially. I asked myself before this all happened, how do these companies make money? The answers are listed above. So to sum it all up, when you are looking into something like this as I had be cautious of what you find and pursue. The answer might seem too good to be true and in this case it was horrible. Next time you try and find the Top options for anything consider the source and do your research!!