In our card reviews and ratings, we put a lot of weight on the clarity of a card’s terms and conditions and fee schedule. We believe that quality card programs are not afraid to clearly and prominently tell consumers what the cost of a card is, and what usage restrictions there are.
Below is a screen shot from a card website that we recently came across that would clearly not score too well in our ratings. (the card is not exactly a prepaid debit card, so we do not rate it on GetDebit.com, we are simply providing it as a bad example).
In the screenshot above, the top portion of the web page is a small frame (which a reader can scroll through, but can’t expand). Over 5,000 words of terms and conditions are packed into a 5 line high frame.
Can a consumer really read 5,000 dense, legal terms in a 5 line high window? No way.
We’ve blurred out the name of the card, as it is not exactly a prepaid debit card. If the card were a prepaid debit card, we would give it a pretty low rating.
Consumers: if you can’t read (or understand) the terms of a prepaid card (especially the fees), don’t get that card. There are plenty other options available to you.
Banks and Program Managers: Do your consumers a favor. Write clear and prominent terms and conditions. Make them accessible and understandable to your customers!