Sterling VIP Prepaid Visa® Debit Card

No Credit Check or Bank Account Required No Security Deposits No Employment Verification No Annual Fee

Review: The Sterling VIP Prepaid Visa® Debit Card, issued by Four Oaks Bank & Trust Company, is a stored value card designed for those who may have difficulty in obtaining a standard unsecured credit card. When applying online, a bank account is required to fund the card. These advance payments are then used to offset future purchases made with the card. Advance payments can be funded directly from the cardholder's paycheck and automatically loaded to the card every pay period. The card can also be loaded with another credit card, by sending a U.S. postal money order via mail, or by making a cash deposit using the approved deposit slip. Each time the card is loaded, a fee is applied to the account. There is no interest applied on the account, no annual fee, and no other similar charges found with most unsecured credit cards. There is an application fee of $59.95, a processing fee of $90, and a minimum initial deposit of $10. There is also a monthly participation fee of $3.95 that amounts to $47.40 annually. In total, cardholders can expect to pay $197.35 in fees the first year. There are fewer qualifications required compared to other unsecured credit cards. There are no credit checks, no turndowns, no security deposits, and no employment requirements. The only requirement is a verifiable address in the United States. Therefore, those who are looking for a stored value card with flexibility to pay in advance for purchases, do not mind paying upfront fees, and do not need to build credit may find the Sterling VIP Prepaid Visa® Debit Card to be a beneficial option.

Date of Review: 2006-04-11 00:00:00

Notes: ***The total initial fee includes a $59.95 application fee, a $90 processing fee, and a $10 minimum deposit. See website for complete terms and conditions of card usage and application disclosure.

Additional Perks: Various Internet account related services. Autopayment option. No liability for unauthorized transactions. See website for additional benefits.