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Sterling VIP Prepaid Visa® Debit Card
Issued By: Four Oaks Bank and Trust Company |
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No Annual Fee
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No Employment Verification
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No Security Deposits
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No Credit Check or Bank Account Required
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CreditCard49 Rating
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Intro APR |
Intro APR Period |
Regular APR |
Annual Fee |
Intro Good On |
Credit Needed |
NA |
NA |
NA |
none |
None |
Limited or No Credit |
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Card Info Last Reviewed 2006-05-11 |
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Our 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. The total initial fee includes a $59.95 application fee, a $90 processing fee, and a $10 bonus rebate. There is also a monthly participation fee of $4.95 that amounts to $59.40 annually. In total, cardholders can expect to pay $209.35 in fees the first year (not including the bonus rebate).
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.
Additional Perks
Various Internet account related services.
No liability for unauthorized transactions.
See website for additional benefits.
Notations
***The total initial fee includes a $59.95 application fee, a $90 processing fee, and a $10 bonus rebate.
There is a fee of $.50 for domestic purchase transactions.
There is a fee of $1.50 for international purchase transactions.
See website for complete terms and conditions of card usage and application disclosure.
View Website Details
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