If you have bounced checks, bad credit or just can't get credit, Wal Mart has good news for you. Wal Mart will be rolling out a pre paid debit card. You can use it just like a credit card, the only difference is that you will need to have cash in your account for the charges to go through. The card will have fees so you will need to pay attention. There is a $4.64 reload fee every time you put money into your account. If you have direct deposit this is waived. If you use an ATM machine you will be charged $1.95 and if you want to cash a check it will run you $3. Requesting a paper statement will cost you $2 and the activation fee is $8.94.
If you don't have any credit, this is a great way to start establishing some. Just make sure in your agreement that they will report to all three credit bureaus which are experian, transunion and equifax.
Get a Debit Card
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