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A pricey tool for making card purchases without a bank account.
Steve Dashiell Steve Dashiell
Written by
Tracy Stewart Tracy Stewart
Edited by
/ 10 min
The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict,this post may contain references to products from our partners. Here's an explanation for andhow we rate our cards.The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Terms apply to the offers listed on this page. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.
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Snapshot
Bottom line
The Green Dot card is a starter card for individuals who want to practice managing their finances without committing to a bank account. However, be wary of the various fees attached to this card.
Green Dot® Prepaid Visa® Card
*The information about the Green Dot® Prepaid Visa® Card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.
*
See Terms
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Recommended Credit
On This Page
On This Page
- Current offer details
- Green Dot Prepaid Visa pros and cons
- Reasons to get this card
- Reasons to skip this card
- Green Dot Prepaid Visa vs. other prepaid cards
- Best cards to pair with the Green Dot Prepaid Visa
- Is this card worth getting?
- Rating methodology
- Frequently asked questions
Green Dot Prepaid Visa Card overview
The Green Dot Prepaid Visa Card offers the convenience of a debit card. The card can be used anywhere Visa is accepted in the U.S., and other benefits such as direct deposit and a convenient mobile app add to the appeal of this prepaid card. However, the card’s hefty fees mean this card is more of a learning tool and a stop-gap toward opening a proper bank account.
Credit-building features
- This is a prepaid card, meaning positive use doesn’t affect your credit.
Expert Appraisal: Weak
See our expert analysisRewards
- This card does not offer rewards, which is typical of prepaid cards.
Expert Appraisal: Typical
See our expert analysisRates and fees
- $1.95 card purchase
- $7.95 monthly usage fee (you can avoid this fee if you load at least $1,000 monthly)
- $5.95 cash reload fee
- $3.00 fee for ATM and teller cash withdrawals
- $0.50 ATM balance inquiry fee
- 3 percent international transaction fee
- $5.95 for a set of 12 checks
- $5 to $15 card replacement fee
- $4.95 monthly VIP upgrade fee
Expert Appraisal: Weak
See our expert analysis
Green Dot Prepaid Visa pros and cons
Pros
The ASAP Direct Deposit™ feature allows you to deposit checks for free through the mobile app.
You can reload your money easily through a mobile deposit, ACH bank transfer or at locations all across the U.S.
As this is a prepaid card, you don’t have to worry about overdraft or bounced check fees.
Cons
This card charges numerous fees including a $5.95 cash reload fee and $3 fee per ATM withdrawal.
Since prepaid cards don’t report to credit bureaus, positive card usage won’t affect your credit score.
It doesn’t have a rewards program if you don’t upgrade to the Unlimited Cash Back Bank Account Visa Debit Card.
Why you might want the Green Dot Prepaid Visa
The Green Dot Prepaid Visa offers a few reasons you may want to check it out.
Usability: Easy to manage
The GreenDot Prepaid Visa is relatively simple to use and maintain: once you purchase the card, you can register and activate it online. The card features direct deposit through the GreenDot mobile app and the ability to upload a picture of a check to deposit into your account. You can also reload your money through eligible locations, including 7-Eleven, CVS or Kroger stores. Cash is available immediately after depositing for withdrawal at any ATM or teller.
Automatic upgrade: Register for more perks
When you purchase and register a new Green Dot Prepaid Visa online, Green Dot will automatically upgrade your card to the Unlimited Cash Back Bank Account Visa Debit Card. This card offers additional features, such as cash back, interest on savings, free in-network ATMs and more.
Why you might want a different prepaid card
The Green Dot Prepaid Visa carries many burdens that limitit* usefulness and cost efficiency.
Credit-building features: It doesn’t build credit
If you hope to use the Green Dot Prepaid Visa to build credit, look elsewhere. Since this is a prepaid card, you’re not borrowing money and not performing any actions that Green Dot would report to the major credit bureaus.
We expect this from a prepaid card, but ideally, a prepaid card offers some other type of benefit to offset the lack of credit-building capabilities. The Green Dot Prepaid lacks many extra perks to incentivize using this particular card over other prepaid or credit-building cards.
Excessive fees: A pricey card to use
Many fees are associated with the card, including a few particularly painful ones that aren’t common on credit or debit cards. Reloading cash, withdrawing cash, checking your balance at an ATM, making purchases abroad, and simply owning the card month-to-month all come with a cost. You’ll also need to pay for checks and card replacements should you need them.
Rewards: None available
The Green Dot Prepaid Visa doesn’t offer any rewards. Given that the card doesn’t help build your credit score and other prepaid cards on the market offer rewards, the Green Dot Prepaid Visa falls behind by not offering additional value to consumers beyond its base functions. The card’s numerous fees don’t help, and a rewards structure could have helped soften the nagging bite of those costs.
Withdrawal and reload limits: Too many stipulations
In addition to the many fees, the card has limits on almost everything, leaving the possibility that you can’t instantly access your money when needed.
The maximum daily cash reload limit is $3,000, but maximum in-store reload limits may also apply, which vary from store to store. You also can’t load cash to your card at any time if your balance exceeds $3,000, nor can your total transactions exceed $3,000 in a calendar day. The maximum balance you can have on your card is $10,000. Cash withdrawals are also limited to $1,500 per teller transaction and $500 per day in ATM transactions, which also can’t exceed $300 in a single transaction.
These limits can be confusing to remember and can lead to paying additional fees to access your money, making this a poor choice for your everyday banking needs.
How the Green Dot Prepaid Visa compares to other prepaid cards
If you’re looking for a prepaid card with a fee structure similar to the Green Dot card and cash back rewards, check out the Netspend® Visa® Prepaid Card or the Brink’s Prepaid Mastercard. Both cards allow you access to a free mobile app, free mobile deposits and live customer service. Here’s how they compare.
Green Dot® Prepaid Visa® Card
Bankrate Score
Annual fee
$0 (Monthly Fee Applies)
Intro offer
N/A
Rewards rate
N/A
Recommended Credit Score
See Terms
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Annual fee
Up-to $9.95 monthly*
Intro offer
N/A
Rewards rate
N/A
Recommended Credit Score
See Terms
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Brink's Money Prepaid Mastercard®
Bankrate Score
Annual fee
Variable Monthly Fees
Intro offer
N/A
Rewards rate
N/A
Recommended Credit Score
See Terms
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Best cards to pair with the Green Dot Prepaid Visa
While prepaid cards can be convenient, they don’t report to credit bureaus, which means they can’t help you build credit. If building credit is a major goal, you could add a secured credit card to your portfolio.
Two great secured cards worth looking into are the Capital One Platinum Secured Credit Card or the Discover it® Secured Credit Card. This type of credit card is secured by a deposit that becomes the collateral for the card. Since these cards generally have lower credit score requirements, they can be a great way to rebuild your credit and pair well with a prepaid card like the Green Dot.
Who is the Green Dot Prepaid Visa right for?
The Green Dot Prepaid Visa will most likely appeal to the following consumers.
Bankrate’s Take — Is the Green Dot Prepaid Visa worth it?
The Green Dot Prepaid Visa can be a solid choice for those who need to keep their spending under control and want to practice managing their finances before opening a bank account, such as students or those with a history of poor credit.
However, you shouldn’t view the Green Dot Prepaid Visa as an outright replacement for a bank account. The various fees for every aspect of this card can add up quickly, making the card no more than a short-term tool.
How we rated this card
50+
cards rated
500+
data points analyzed
250+
fees tracked
40+
perks evaluated
Our proprietary card rating system takes into account a mix of factors when scoring credit cards for students and people building credit, including each card’s cost, APR, credit-building tools and more.
We analyzed over 50 of the most popular cards designed for students and people with no credit history, bad credit or a fair credit score and scored each based on where its key features stood in relation to others in its category.
Here are some of the key factors that gave this card its score:
Frequently asked questions
Compare the best bad credit cards
Written by
Steve Dashiell
Editor, Credit cards
Read more from Steve
Steven Dashiell is an editor for Bankrate and CreditCards.com with expertise in rewards credit cards, financial literacy, and helping consumers build and maintain their credit.
* See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.
Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.
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