PLS is a check cashing financial center. They are now offering a prepaid Visa debit card. PLS financial centers are located in Arizona, California, Illinois, Indiana, New York, Texas, and Wisconsin.
They have created the Expectations Visa Prepaid Card. You can apply by visiting a PLS location. But you can start the application process online. This card is issued by the Bancorp Bank, a member of the FDIC and in partnership with NetSpend Prepaid.
The PLS Prepaid Card is a low fee reloadable debit card. You can use it at ATM machines to get cash withdrawals. You have 24/7 online account access and you can sign up for text alerts about you account activity. A neat feature is you can use person-to-person money transfers.
The PLS Debit Card is going to cost you $9.95 and there is a reload fee of $2.00. You can deposit money on your PLS Expectations Visa by using direct deposit and by visiting a PLS store location. The idea behind this prepaid debit card is to give people access to a debit card, who don’t have a bank account.
You can also sign up for a free NetSpend Saving Program, this is just like a savings account. You will earn interest on the money you deposit in this account. This savings account is held by Inter National Bank in McAllen, Texas, they also are a member of the FDIC.
There is no credit check or bank account required for approval for the Xpectations Visa PLS Prepaid Debit Card. And you will never be charged any interest fees or overdraft fees. The PLS Prepaid Card will protect you against unauthorized transactions. Just in case, your card is ever lost or stolen you will not be responsible for any fraudulent transactions.
For more details about the PLS Prepaid Card visit a retail location. There is a very limited amount of information available about this debit card. You may want to go with a larger company and we would suggest the prepaid Chase Liquid Card. It carries a low $4.95 monthly fee. That is it!
In recent years, the prepaid debit card market has exploded!
There are now prepaid credit card offers from: American Express, Discover Card, Chase Bank, Capital One Prepaid, and many more. It would be smart to compare a few prepaid debit cards they’ll often have different fee plans and benefits. You have a huge number of cards to choose from.
2 Important Tips To Note
1. Prepaid Debit Cards Will Not Build Credit
You can not use a prepaid debit card to build credit on your credit report. In the past, some debit cards offered you a line of credit and this enabled you to show credit related behavior.
But, new laws were passed to prohibit this and because a prepaid debit card is first loaded with money, you are not showing any behavior that can be reported to the credit bureaus. If you would like to build credit we recommend a bank secured credit card. It would also be smart to work on removing bad credit items from your credit report.
2. You Have The Power
In the prepaid marketplace the competition is stiff for your business! In other words, everyone wants your business. This means, it is worth spending a few minutes comparing a few prepaid debit cards. Some cards will have very low fees or even no monthly debit card fees. The point is you can find a prepaid debit card that suits your specific spending habits and without paying an arm and a leg.
If you’re suffering from less than perfect credit, get a free credit consultation by calling toll-free 1-855-655-9869. For more credit tips and strategies with Dan Willis sign up for our free newsletter.