FlexCard Visa Hybrid Prepaid Card Program Review
What You Need to Know About
the FlexCard Visa Hybrid Prepaid Credit Card Program
Second Chance Checking |
FlexCard Visa Hybrid Prepaid Card Review
There is an up
and coming prepaid credit card offer that you should avoid.
The FlexCard Visa hybrid prepaid credit card is being offered
as a way to rebuild your credit via a prepaid credit card.
Not Recommended - Here is what
you need to know about FlexCard Visa Hybrid Prepaid Card Review.
The FlexCard
Program prepaid Visa Card is a prepaid credit card that also
offers a $10,000 unsecured line of credit and a $1500 cash
advance to its card holders. The card is marketed towards
people who have bad credit and want to build/rebuild their
credit as well as to those who may need alternative banking
options due to being listed in ChexSystems and/or Early
Warning Systems.
The FlexCard Program prepaid Visa Card promises to help you
build your credit since they report all activity to all three
credit bureaus as well as offer you an $10,000 unsecured line
of credit that is reported to the credit bureaus as well.
Before signing up with the FlexCard Program Visa, please read
the following review and warnings.
While the FlexCard Visa Program sounds promising and an
excellent banking alternative and way to rebuild your credit,
there are some serious issues.
The first problem is that they have an "F" with the better
business bureau (view
- link opens in new window)
The second issue is that the $10,000 unsecured credit is not
one of those
unsecured credit cards that can be used at other stores.
It can only be used at thecreditbuilder.com where your line of
credit is only good for out of date books and e-books. Also,
it is only reported if it is active, so you have to activate
the line of credit to have your credit history with them
reported. The interest rate is 24.99% and there is a $69
security deposit required. So if you think about it, you have
to pay $69 security deposit to activate your card/line of
credit and only then will your account be reported to the
credit bureaus.
Also, we find that they are more interested in pushing the
$1500 cash advance than anything else due to the fact that
when you try to exit their application you are hit with 3
attempts to get you to accept a $1500 cash advance through
them.
We recommend that you avoid this offer and check out some of
the more viable, reliable and safe alternatives below.
If you need to rebuild your credit, check out the
Orchard Bank MasterCard.
If you need a prepaid credit card, check out the
Upside prepaid for an excellent low fee prepaid
option.
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