Capcom comes out with prepaid Visa card

[Brian Moy]

I read about this in a trade magazine I get.  Unity Visa is a new loyalty program that has released allowing users to earn cash back, rewards (such as entry to special events or beta testing on new games), discounts, access to events, and loyalty points on their Capcommunity website, www.capcom-unity.com.

Anyone over 13 can qualify, and all you need is a credit or debit card to sign up (or a parent with a credit or debit card to sign up for you).  Its NOT a credit card, but a prepaid debit card that you preload with money using PayPal, a bank account, or at a 7-Eleven, Safeway or other participating Visa Readylink location.  It seems to be marketed towards younger consumers, who likely don't have enough credit history to qualify for a credit card, so the thinking is that parents can give them these cards to help manage their finances - and as the card has the Visa logo, the user can make payments in case cash isn't accepted and credit card is the only way to pay - like many things online.

Besides all that, the cards are very cool looking with a some cards based on Resident Evil, Bionic Commando, and Street Fighter series.  I'm sure it'd be sweet awesome to pull that out at a GameCrazy to pay for your games! 

As cool as they look, I won't be signing up for one myself.  I'm not a big fan of the pre-paid debit/virtual money industry which seems to be getting more popular.  As the pre-paid debit card is not associated with a checking account, like a regular debit card is, basically they make money by all the various fees charged to the user for the privilege of having a Visa logo card. 

Check out the cool looking cards here - http://www.capcom-unity-card.com/

[G.A.Pster]

Yeah, I saw that when I looked at the Resi 5 site.
I’ll have to see how much it costs if I can get a low dollar amount one I might do it just to get the card.

[Brian Moy]

Yeah, I saw that when I looked at the Resi 5 site.
I’ll have to see how much it costs if I can get a low dollar amount one I might do it just to get the card.

As cool as it looks, I'd have to suggest you DON"T get the card.  (I made the mistake of getting my first card when I was in college just because it looked cool, but had horrible terms, don't make my mistake!!)

Among the fees, is a $9.95 fee to open the card, a $4.95 monthly fee, and a $10 fee to close the card.  See list of fees - http://www.prepaidcardholder.com/fl/capcomfl.html  If a person wanted to just get a card, and then close just to HAVE a cool card as a collectible, that would cost you $24.90 minimum opening and closing without using it - UNLESS you are a big enough fan of Resident Evil (or the other series on the other cards) that the price is worth it to you.  And there is a per minute fee for calling customer service, a fee if you want your statements mailed to you.  All cards have fees, but those mentioned are normally free for most reasonable credit cards available to a person with good credit.  (I know this isn't a CREDIT card, but I'm just making the comparison because of the fees)

The main thing is the monthly fees and fee to open the card.  If it didn't have those, then I'd say go for it.

[G.A.Pster]

As cool as it looks, I'd have to suggest you DON"T get the card.  (I made the mistake of getting my first card when I was in college just because it looked cool, but had horrible terms, don't make my mistake!!)

Among the fees, is a $9.95 fee to open the card, a $4.95 monthly fee, and a $10 fee to close the card.  See list of fees - http://www.prepaidcardholder.com/fl/capcomfl.html  If a person wanted to just get a card, and then close just to HAVE a cool card as a collectible, that would cost you $24.90 minimum opening and closing without using it - UNLESS you are a big enough fan of Resident Evil (or the other series on the other cards) that the price is worth it to you.  And there is a per minute fee for calling customer service, a fee if you want your statements mailed to you.  All cards have fees, but those mentioned are normally free for most reasonable credit cards available to a person with good credit.  (I know this isn't a CREDIT card, but I'm just making the comparison because of the fees)

The main thing is the monthly fees and fee to open the card.  If it didn't have those, then I'd say go for it.

Thanks you saved me some time looking through the terms.
 
Ouch, I like Resident Evil 5 but I’m not a big enough fan to pay that much!

But if Ubisoft gets into the prepaid credit card racket, and makes one for BG&E2 it'd be a diferent story.

[Josh Parr]

Yeah a lot of these prepaid cards have just outrageous fees. Seems like such a waste really.

[Brian Moy]

Yeah a lot of these prepaid cards have just outrageous fees. Seems like such a waste really.

Prepaid debit cards are mainly for people that for various reasons aren't able to qualify for a regular credit card, as having a credit card is necessary in some places that won't accept cash or checks.  The market is for people that can't qualify for a regular credit card, such as those with bad or NO credit, kids, immigrant workers that aren't yet legal and don't have a SSN or credit report (in their case, they might not be able to open a bank account either), or people that are willing to pay for a card because they don't like credit cards attached to their personal credit.

[Josh Parr]

Prepaid debit cards are mainly for people that for various reasons aren't able to qualify for a regular credit card, as having a credit card is necessary in some places that won't accept cash or checks.  The market is for people that can't qualify for a regular credit card, such as those with bad or NO credit, kids, immigrant workers that aren't yet legal and don't have a SSN or credit report (in their case, they might not be able to open a bank account either), or people that are willing to pay for a card because they don't like credit cards attached to their personal credit.

True, but couldn't they just get a checking account with a debit card? That's the part I never understood.  Most checking accounts that I see anymore come with a free Debit Card that works just like a credit card in most locations.

[Brian Moy]

True, but couldn't they just get a checking account with a debit card? That's the part I never understood.  Most checking accounts that I see anymore come with a free Debit Card that works just like a credit card in most locations.

Some people might not want to have their personal information attached to a card.  Or they might not be able to open a bank account - if they don't have a SSN or other ID.

[Josh Parr]

Well I could see that. I guess I can't fully wrap my head around that idea but does sound reasonable.