• The card can be issued to minor children with their parents' consent. This allows children to learn how to use credit properly. It also allows them to establish credit scores early.

• The card has no minimum balance, which allows parents to control their child's spending. It also helps adults with damaged credit and limited funds to have the convenience of a credit card while rebuilding their credit score.

• The cost of membership is low. The Clear card is free, the Access card has a $2.99 per month membership fee and the Edge program has a $29.95 annual membership charge. In some cases membership fees can be covered by cash back rewards.

The MetaBank UPside Visa Prepaid Card is designed for people who have no credit, poor credit, or for parents that wish to teach their children about using credit cards. There are several plans available to meet the needs of every cardholder. The prepaid card can be issued to anyone, even if they are too young to apply for a credit card. Parents can load funds from their bank account onto the card and monitor their child's use of credit. The upside is the flexibility offered by MetaBank with three plans available to best meet the needs of cardholders and all plans allow the cardholder to take advantage of the rewards program.

Terms and Conditions

UPside Clear is free. The maximum balance for the clear plan is $1000.00. There is a $2.50 charge for uploading funds from a credit or debit card. There is no charge for depositing money from a bank account. This fee also applies to direct deposits from an employer. The MetaBank UPside Prepaid Visa Clear card cannot be used at an ATM; it can only be used to make purchases.  Cardholders can earn 1 point/dollar for loading funds by depositing money through the Green Dot Network. The points are good for use at the UPSide Mall.

The Clear plan is excellent for parents who want to give their children credit cards, without risking their bank account or credit rating. Funds can be uploaded to the account when necessary and parents can monitor their children’s' spending. There is no minimum balance and children can only spend the amount paid onto the card. This also provides security if the card is lost or stolen. The only fees on the card are the $2.50 convenience charge for adding funds from a credit or debit card. Having a card declined for insufficient funds can be a learning experience for kids and the proper use of credit is an important lesson.

UPside Access has a monthly membership fee of $2.99. The fee is deducted from the cardholder's balance. The Access card can be used at any ATM worldwide to obtain cash. Fees charged by the ATM apply and are deducted from the cardholder's account. The maximum balance on the Access plan is $2000.00. The MetaBank UPside Prepaid Visa Access also has check writing privileges for cardholders over 18. There is a $2.50 charge for funds loaded from credit or debit cards, but direct deposit and funds added from a bank account are free. 

While UPside Clear is an excellent program for children living at home, MetaBank’s UPside Access is more practical for college age children or those attending school away from home. The higher maximum balance and the ability to use ATMs or write checks make this plan more flexible. These features aren't usually necessary for children who live with their parents, but can be essential for children who may be hundreds of miles away. If unexpected expenses come up, funds can be loaded onto the card and the child can write a check, get cash or use the card to pay them.

UPside Edge is the premium plan for cardholders.  There is an annual fee of $29.95 per year. The $2.50 convenience charge for loading funds from a credit or debit card applies to the Edge plan. Direct deposit is free and the account maximum is $5000.00. Check writing and ATM privileges come with the Edge plan. 

The MetaBank UPside Prepaid Visa Edge plan is best for adults who are rebuilding their credit or adult children who are employed, but still partially dependent on their parents. Parents can load funds on the card as needed to cover expenses like tuition. The higher maximum balance allows the card to be used for expenses that exceed the $2000.00 maximum balance offered by the Access plan. 

Advantages and Rewards

While a prepaid card pays no interest on the cash which is loaded on the card, they also don't charge interest on the funds used. Unsecured credit cards charge interest rates as high as 19%APR. Minor children are generally unable to obtain an unsecured card and adults with less than perfect credit may have difficulty obtaining unsecured credit cards. 

While debit or check cards offer the convenience of a credit card, banks do not report debit card usage to credit bureaus. Using a debit card doesn't have any effect on your credit score. The MetaBank UPside Prepaid Visa Card is a credit card and does report transactions to the credit bureaus allowing cardholders to build or rebuild their credit scores. Most banks do not offer rewards on debit cards.

Rewards are offered by all three MetaBank UPside Prepaid Visa Card programs. The Clear program offers points worth $1.00 on cash deposits loaded through the Green Dot network. The points are good for the Sponsorship Program and UPside Mall purchases. The Access program offers the same points and cardholders can earn $20 cash back if they load $2000 on the card.

The Edge program offers the best rewards. Edge cardholders can earn 1% cash back on all the funds they load onto the card. A cash load of $2900.00 will pay the cost of the annual fee, making the Edge card essentially free. If additional funds are loaded, the cardholder continues to receive the 1% cash back rewards.

What Is The Downside?

There really are no disadvantages to the MetaBank UPside Prepaid Visa Card. Many prepaid cards aren't available to minor children. Giving a child an UPside Visa card can teach them valuable lessons about the use of credit cards with no risk to the parent's credit rating or financial assets. Since there is no minimum balance, parents can load only the amount of cash they want their child to spend. An UPside Visa card allows parents to remain in control of their children's spending.

For parents whose children don't live at home, the UPside Visa card makes it possible to send cash for expenses or emergencies quickly. Western Union is not convenient and it is an expensive way to send money to your children. Having a secured credit card in their own name helps young adults to build a credit score. Once a child becomes independent a good credit score can improve his chances for employment and save him money on interest rates for car loans and mortgages.

The Metabank UPside Prepaid Visa card is great for children and adults. It has all the advantages of an unsecured credit card without the high interest rates. In many cases the fees on the card can be earned back through the cash rewards program making membership free. There is no downside to the UPside Visa Card.