THE APRIL DEBIT CARD

In order to be ahead of debt, the economy and the vicarious thrill that comes with shopping with a credit card, I decided last week to get a prepaid debit card from my banking institution. That way I could put money in ahead of time and the only money I could spend was what was in the account. No debt. When I got the card in the mail yesterday I spent some time reading the Fine Print on the back. Because if banks and their cards were untrustworthy before, they are even more so now, begging for money as they are.

While reading through the Fine Print I became acquainted with the price of being debt free. Under fees I found out that there were several:

$1.50 each time I withdraw (my) money from an ATM;
$2.00 monthly maintenance fee (on the account with My Money in it);
50 cents every time I add (my) money to the account;
a declined transaction fee of 50 cents;
and an Inactivity Fee. If I haven’t spent any of (my) money for three months, it’s going to cost me $3.00 a month for each month thereafter until I spend money.

There are also fees for replacing a stolen card, and for the Neighbor’s Dog.

I am going to spend the money presently in the account pretty quickly, cut the card into little pieces and take it in person back to my banking institution and ask them why they let me get this card in the first place. Then I will apply for a regular credit card. Which has no fees until you really screw up. And not from the same bank.

Ta!