Friday, November 9, 2012

Baby Phat Rush Card - Review

The baby phat rush card is a prepaid credit card. It was created by Russell Simmons he co founded the popular Def Jam record label.

The rush card works like this; you deposit money into your account, then you use your card to make purchases. This card guarantees approval for everyone.

There is no credit check or chex systems verification. You can have a card issued to you in black or in pink.

With this card you have free direct deposit. To enroll in this you only have to fill out a form and turn that into your employer or payroll department.

Your paychecks are then directly deposited into your rush account/card. You will still get the details from your employer. It will show the amount of your deposit and taxes and hours worked.

If you are in need of cash this card can be used at over 800,000 ATM's world wide. You also have free online account access.

You can use your card to make purchases online or over the phone. There is also another benefit; you can write physical paper checks from your rush card account.

To take advantage of this feature, you sign in to your rush card account and insert the person or business details that you want to pay. Their details simply include name, address and amount of payment.

Then a physical check in your name is sent to the payee. This is a great way to pay your bills, no more buying money orders.

Using this service and direct deposit you can save a lot of money because you will no longer have to pay for money orders or check cashing fees again.

However, we do not recommend the rush card. This is because of the number of fees they have that other prepaid cards do not carry.

For example the rush card charges you a convenience fee. A convenience fee is simply a fee for using your card.

The convenience fee is .00 with a monthly maximum of .00. However you will be charged a convenience fee for every purchase you make in a month.

Only at the end of a full calendar month will the extra convenience fees be refunded to you.

That works out to almost 2 months before you will be issued your refund. These fees are ludicrous; there are very few people that only use their credit card ten times in a month.

I don't know how they get away with charging these fees it seems unfathomable. In addition making their card holders wait so long before being reimbursed.

To enroll in bill pay the rush card will charge you .00 and then another .00 for every check you write from your account. There are other prepaid cards where this service is free.

The rush card proudly says there are no hidden fees with their card. However they have more fees than any other card we have reviewed. They carry a fee with every transaction you make with your card.

In sum, stay away from the rush card. There are many other prepaid credit cards available that have lower fees and better benefits.

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