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The Wired Plastic Visa was last reviewed on 5th April 2007.
Summary - The Wired Plastic Prepaid Visa is a low cost prepaid card that comes with a reward program. You can earn one Wired Point for every dollar you spend on the card. These points can be redeemed for long distance calls made anywhere in the US or to purchase prepaid wireless airtime with Verizon, TracFone, Cingular and AT&T. We recommend the Wired PlasticTM Prepaid Visa® Card because
It has one of the lowest fees of all prepaid cards - just a $3.95 monthly maintanence fee and a low $9.95 one-time activation feeUnlike many other prepaid cards, there are no fees for Point-of-Sale transactions, Direct Payroll Deposits, check or money order deposits, Bank ACH and PayPal and online fund transfersYou can use Click N Pay to enable automatic payment to various merchants (eg monthly newspaper or cell phone bills - this comes with a fee).Live agent customer service and online web access to your accounts are also provided for free (many prepaid cards charge for these services)You can earn reward points
Let us look at the card in greater detail
Reward Points - You can earn one Wired Point for every dollar you spend on the card. These points can be redeemed for long distance calls made anywhere in the US or to purchase prepaid wireless airtime with Verizon, TracFone, Cingular and AT&T.
Cost and Fees - There is a monthly maintenance fee of $3.95, which works out to $47.40 a year. This is reasonable and comparable to many checking account fee. There is also a very reasonable one-time activation fee of $9.95. Otherwise, there is no annual fee and more importantly, Point of Sales Transaction fee (unlike other prepaid cards). This is very important because point of sale fees can add up very quickly each time you use your card. There is also no fees for Direct payroll deposits, check or money order deposits, Bank ACH and PayPal and online fund transfers. You can also use their Click N Pay facilities to enable automatic payment to various merchants (eg monthly newspaper or cell phone bills - this comes with a fee). I think this is a very important feature as automating your monthly bill payments helps you to avoid late payments. Online fund transfers are also free. Live agent customer service and online web access to your accounts are also provided for free (many prepaid cards charge for these services).
You are allowed to spend up to $2,500 from your card a day, to transfer up to $2,500 into your during a day and also to withdraw from an ATM up to $500 a day.
Verdict - We recommend the Wired PlasticTM Prepaid Visa® Card to those who want the convenience of a check/debit card and credit card, but do not want to open a checking account and who want a prepaid card to maintain spending discipline. This card has offers free money transfers and online, customer support unlike many prepaids cards which simply charge for these items.
Positives
Reward ProgramReasonable one-time feeNo annual feeReasonable monthly maintanence feeNo point of sale transaction feeNo fees for most monry transfer methodsFree customer support and online account accessAutomatic bill payments
| Wired Plastic Prepaid Visa |
| Reward Program |
| Point Formula |
Earn 1 Wired Point for every dollar spent |
| Benefits |
Free Online Web Access
Free live agent customer service
Free cash transfer via payroll direct, Money order, cashiers checks, paypal |
| Cost/Fees |
| Annual Fee |
$No annual fee |
| Monthly Maintanence Fee |
$3.95 |
| One-time Processing Fee |
$9.95 |
| Transaction Fee (Point of Sale) |
No transaction fee |
| Foreign Transaction Fee (Point of Sale) |
$0.50 |
| ATM Withdrwal Fee |
$2.00 ($500.00 daily limit) |
| Daily Spending Limit |
$2,500 |
| Payroll Direct Deposit Fee |
FREE |
| Money Order/Cashiers Check Deposit Fee |
FREE |
| Paypal Deposit Fee |
FREE |
| ACH Direct Deposit Fee |
FREE |
| Online Fund Transfer Fee |
FREE |
Apply for the Wired PlasticTM Prepaid Visa® Card.
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