Freedom Prepaid MasterCard Debit Card for Canadians
Somebody had asked me if I know of prepaid credit cards in Canada.
Today I visited the Cash Store and they were promoting their Freedom Prepaid Mastercard Debit Card
SEE ALSO:Prepaid Credit Cards in Canada
This debit card is available in Canada.
The following are the fees for this prepaid debit card.
FEES
Card Issuance costs $14.95
Load Fee $2.50
Monthly Maintenance $7.95
Point of Sale Transaction - $1.75
ATM Withdrawal - $2.50
LIMITS
Maximum Advance Limit - $1,500
Maximum Daily Load - $2,500
Maximum Daily POS Purchases - $5,000
Maximum Daily ATM Withdrawal - $1,500
In my opinion this card if pretty expensive to work with. There are alot of fees.
The other thing is.. if you've got $1,500 cash to withdraw, or you doing $5,000 daily point of sale purchases , why on earth don't you have a bank account with a debit card and/or a credit card.
I get a feeling that people who use these cards don't have bank accounts, and need a place to store their cash. I also get a sense that people who get money from the Cash Store load the loan money they get on to the card for later use.
This is pretty expensive.
The benefit to using this prepaid debit card is that you can make purchases on the internet, and you can carry money around safely in your wallet or purse.
i asked the customer service rep if this card would help your credit rating, and they said NO... This card does not help you build your credit rating with equifax and/or transunion.
Alberta, British Columbia, Manitoba, Saskatchewan, New Brunswick, Newfoundland, Nova Scotia, Prince Edward Island,
Article Created: 2008-12-12
Article Updated: Not yet updated.