ACE Elite Visa Prepaid Debit Card – Pink or Blue versions

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bad credit required

Editors Review

This card comes in 2 versions – Pink or Blue and has 3 payments plans:

Pay-As-You-Go

• No monthly fee
• Transaction fee- $1 per every signature transaction, 2$ per every PIN transaction

FeeAdvantage

• $9.95 monthly fee
• No transaction fees

Direct Deposit FeeAdvantage Plan

• $5 monthly fee
• No transaction fees
• Need to receive at least $500 direct deposit in one month to qualify for a plan

Automatically a pay-as-you-go plan is activated, to change a plan you need to call or go online

Pros

• up to $300 per day in no-fee cash withdrawals at ACE Cash Express locations
• your money is on FDIC insured account
• $10 credit limit for overspending protection, if you deposit  at least $500 on a card in a month

Cons

• Fees are high. You will be charged at least $5-$15 monthly even for a low use of the card.

Verdict

We recommend you think twice before applying for any prepaid card. These cards are exempt from the CARD Act rules, and there are no limitations on the fees they can charge. Usually, the fees are bad.

Even if you have bad credit, there is usually a better way than a prepaid card – a no fee checking account, like Capital One 360 with a debit card attached to it.