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February 2008
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WalMart is offering a new money card. It's a pre-paid type of Visa aimed at people who do not have bank accounts. Oregon's Attorney General's Office is warning consumers because the card has high fees. Walmartmoneycard.com shows a handful of the fees, which include re-loading, atm and balance checking fees. Do you think that WalMart is giving people a break or just preying on people with poor credit? 10 CommentsLeave a comment |
This is ridiculas, why cant people be responsible for their own actions. Walmart is offering a service, if you choose to use it then it is a benefit to you. You don't have to use it, it is completely optional. To even pose the question, "Is Walmart preying on people with poor credit?" is absurd. Isn't their better news out there?
Wal-Mart is the largest retailer in the world. Yes they are preying on the poor----all over the world.
Walmart - like bank of america is preying upon illegal immigrants. No social security card, no drivers license, no documentation, no problem. They are exploiting the poor and the illegal alien. they should be fined and ripped a new one. But since they are a large retailer, nothing will happen, as long as they are scratching the right government people. Welcome to America, we will give you anything you want and then take everything away fm you and then penalize you. Gracious
Wal-Mart is a preditor, they prey on small family businesses when they undercut prices to force competition out. They prey on the producers to make their goods cheaper, who then in turn needs to squeeze their employees. They prey on the poor and just barely middle-class who in turn feeds into the cycle.
Wal-Mart is evil
Some of you folks are scary. You don't understand that a greater choice of financial services is good, not bad. You don't have to get the stupid card if you don't want it. Nobody is holding you down and forcing you.
You folks want a nanny state to take care of you. Is it too much to expect you to make a decision between a 12% rate and a 18% rate or a $3 fee versus an $8 fee?
More supply means lower prices. Walmart is not preying on anyone.
It wouldn't kill some of you to read an economics book and act like an adult. You are not going to change the laws of economics by whining. It scares me for America that the average Joe knows little about Supply and Demand. A very simple concept.
i need active my new money debit card so i can use it
When Walmart moved in to one community we lived in they lowered prices until the local competion was gone. At that point they raised prices on items that couldn't be bought locally any more. People without the means to travel were forced to pay a premium for some necessities.
In the past WalMart has sought to offer banking services. Now they are offering prepaid cards as a way to sneak in the financial door. Frankly I am worried about what might come next. Will they start issuing chits in the form of these cards to employees so this is the only place they can spend their salary? Will they encourge their suppliers to give these cards to their employees in order to continue to sell their goods and services to WalMart?
Wake up America! A prepaid card would give a whole new meaning to owing your soul to the company store.
When Walmart moved in to one community we lived in they lowered prices until the local competion was gone. At that point they raised prices on items that couldn't be bought locally any more. People without the means to travel were forced to pay a premium for some necessities.
In the past WalMart has sought to offer banking services. Now they are offering prepaid cards as a way to sneak in the financial door. Frankly I am worried about what might come next. Will they start issuing chits in the form of these cards to employees so this is the only place they can spend their salary? Will they encourge their suppliers to give these cards to their employees in order to continue to sell their goods and services to WalMart?
Wake up America! A prepaid card would give a whole new meaning to owing your soul to the company store.
I love the idea of a card that has no connection to my bank account that I can load at will and be able to use at gas pumps etc. It would be a wonderful way to manage retirement cash flow if it did not have such high fees. We have bought one to use for a gas card on a trip we have planned just for convience, but we most probably will cancel it when we get home because we had not researched the hidden fees and they get unreal if you are not careful. P.S. we have very good credit, and are very aware of all the political stuff about Walmart, but we would still use the card if it did not have so many fees. It would be great to give to the grandchildren for gifts, or for the parents so they would not have to use the card at a particular store. Where are the other competitors who might compete with fees and get the card reasonable?
Do not let walmart add funds to your card as they did ours.I went to walmart and put.40.00 dollars on my card,and now theres NO MONEY on my card and walmart says call the number on the reciept,thats no use either.This lesson cost me 40.00 dollars.If theres a problem there is no help.