• secured credit card banner

    Freedom Prepaid MasterCard Debit Card for Canadians

    Somebody had asked me if I know of prepaid credit cards in Canada.

    Today I visited the Cash Store and they were promoting their Freedom Prepaid Mastercard Debit Card

    SEE ALSO:Prepaid Credit Cards in Canada

    Freedom Prepaid Mastercard Debit Card

    This debit card is available in Canada.

    The following are the fees for this prepaid debit card.

    Freedom Prepaid Mastercard Debit Card

    Card Issuance costs $14.95
    Load Fee $2.50
    Monthly Maintenance $7.95
    Point of Sale Transaction - $1.75
    ATM Withdrawal - $2.50

    Maximum Advance Limit - $1,500
    Maximum Daily Load - $2,500
    Maximum Daily POS Purchases - $5,000
    Maximum Daily ATM Withdrawal - $1,500

    In my opinion this card if pretty expensive to work with. There are alot of fees.

    The other thing is.. if you've got $1,500 cash to withdraw, or you doing $5,000 daily point of sale purchases , why on earth don't you have a bank account with a debit card and/or a credit card.

    I get a feeling that people who use these cards don't have bank accounts, and need a place to store their cash. I also get a sense that people who get money from the Cash Store load the loan money they get on to the card for later use.

    This is pretty expensive.

    The benefit to using this prepaid debit card is that you can make purchases on the internet, and you can carry money around safely in your wallet or purse.

    i asked the customer service rep if this card would help your credit rating, and they said NO... This card does not help you build your credit rating with equifax and/or transunion.

    Alberta, British Columbia, Manitoba, Saskatchewan, New Brunswick, Newfoundland, Nova Scotia, Prince Edward Island,

    Article Created: 2008-12-12
    Article Updated: Not yet updated.

    0 CMA MEMBERS Likes this.
Add Your Comments:
Fields with * are required
Your Comment Below:
Enter Above Code
Note: Comments are moderated - Spam will be deleted

On Dec 12, 2012, kyle from regina Said:
How do i check my account balance i only bought a couple of things on this card n now i have nothing on my account i got it a couple of weeks ago ??????
On Sep 15, 2012, Honest Advice Said:
Some honest advice... if you need a card to use online DON'T EVEN THINK of using this one. Terrible customer server that disconnects calls on you and charges you $2.50 every time you call regardless. They lie to your face every single time!!! When asked to transfer to a supervisor they say hold on very politely and then hang up on you and charge you $2.50. This is a 100% scam and I can't believe that such a business is even allowed to exist!!
On Jan 31, 2012, K00020018@aol.com Said:
Where does a person go to find out their balance on this card.The fees that go with this card is ridiculous. The card says preferred customer not even my name on it, I do not know how the government lets companys like this stay in businesss
On Dec 5, 2011, Lisa Lynn Said:
yep, bad experience. I have/had a freedom MC, I put severasl hunderd dollars on it and tries to purchase a Christmas gift for my son. Transaction was denied because it did not recognize a billing address, then my card was cancelled, apparently by the store I bought it at, but the person at the store I spoke to , couldn'r understand how it was cancelled by them, when it was cancelled when they were not even open. Now I have been told I have to wait 6-8 weeks for a refund of teh mney I put on the card. That just blew Christmas for my son, as that was my Christmas money I put on it for him. I had used this card for the past year with no issues and now it did this. Strange, but once I (hopefully) get my money back I will never use this type of card again!! Lesson learned, painfully.
On Oct 24, 2011, Carol Cook Said:
How do I check the Balance on my Freedom Prestige mastercard?
On Jul 29, 2011, johnny Said:
just got my prepaid titanium crd. and guys it is wht it is. no matter wht kind of visa-mastercard. we get, expect to get charged...... id rather go. pay as you go and that way the goverment does not charge that bull crap 0f 19% or 29% intrest rate or more of wht ever the monthly statement is... im very happy with this card.... word to the wise if you get yourself in to a situation you should be able to get yourself out of a situation with out any complications ..................
On Jun 27, 2011, jeffery whitbread Said:
how can i from the comfort of my house put money onto my freedom prepaid master card
On Mar 15, 2011, Tom Lowe Said:
On Feb 21, 2011, A. C. Said:
I went to Money Mart in Fredericton, to get the Titanium card, in order to use it online to pay a fee to the Government of Canada. I was assured by the lady at the counter that it would be accepted. She knew all I needed it for was this one particular transaction and again assured me it would work and I would only have a 50 cent fee charge.

The Government of Canada refused the online transaction because they do not accept their type of credit card. I go to look online at the MM site and find out that my $351 was deducted.

I call the customer service number on their site 5 times. Three of which I talked with someone and two of which I was disconnected from and still charged for all 5 calls.

I was then informed that they had my money bu WOULD NOT release it for 14 days. This being my hard earned money that I need to pay a fee immediately.

A "supervisor" promised me I could take my card right in to money mart, return it and get my full balance off of the card and cancel it.

Then in the next 14 days they slapped me with 5 call charges, a 17 dollar monthly fee, and other service fees.

Money mart in Fredericton refused to do anything about it nor would they allow me to talk with a manger on site. Then they gave me my money minus about $40 plus being out the original $22.

The kicker is... they refused to close my account at MM and said that my personal information was theirs to keep for as long as they see fit.

I am going to email a mass letter to every MM employees fax/email addies, every MP, in Canada, every mayor of every city they are in, and all of the various provincial and federal departments.
On Feb 9, 2011, Derrick Said:
if i get a prepaid master card or any prepaid credit card, could i rent a vehicle with it? as long as i have that amount on the card?
On Jan 13, 2011, Janet Said:
I am not happy with my credit card, I'm using Titanium pre paid Visa. I was not told that I would be charged a fee for calling Customer Service! I wasn't told by the person I was speaking to nor when I signed up for the card. I only found out when I went to check my balance and there it was, a fee for Customer Service! What the hell? thought it was supposed to be free?
On Nov 19, 2010, kayla Said:
Let\\\\\\\'s make sure we are all clear. The Money Mart pre-paid visa is a card which can be loaded like a debit card but used as a mastercard. Of course there are fees, As there are fees at every bank there are fees on this card. When you spend money on your bank card you will pay a fee unless you have a monthly one time fee. Money mart also has a flat fee card like your bank.
The card protects you from exposing your high credit balance cards to fraudsters online. S
It does not cost 2.50 to cancel this card it costs 2.50 to call the customer service line which is a VISA line THEY actually charge not Money Mart, if you go into a branch the csr would happily have closed the account free of charge. This card is great for those with traditional cards trying to protect their identity, control their spending or those with no credit wanting to pay bills and buy online.
Two pieces of ID are required to purchase the card and its very simple.
For those who complain about the fees, think about the fees you traditional cards charge 9-25% and tell me what\\\\\\\'s cheaper, or what your bank charges you.
On Nov 18, 2010, kam Said:
what are the requirements for this prepaid card??
what id required?
ssn required???
On Nov 1, 2010, michelle Said:
if u want a balance from the card go to directcash.net and if your card is lost call the store asap so they can cancel it for u
On Oct 31, 2010, mark jack Said:
i would like my balance please
On Oct 18, 2010, Monica Menges Said:
I would like to get my balance.....how please
On Sep 13, 2010, jay Said:
This card is a complete rip of, they pray on the poor and desperate people. Ower government should put a stop to these scams. Ower government does nothing to protect the poor and desperate people in canada.
On Aug 13, 2010, Annie Mulrooney Said:
How do you put money on your freedom mastercard?
On Aug 12, 2010, Deb Said:
I have the Money Mart Titanium card and it will sit in a drawer until it's cancelled for me as MM has a $2.50 charge to cancel the card. It really does suck in ways of fees which are beyond rediculous. I paid for my web hosting that was located in the states. For $14.95, I was charged a .50 transaction fee plus another fee because it was considered 'international'. Plus the monthly maintenance fee makes this a rip off. You pay to have it, to use it, to load it and there is even a fee to cancel it. If you are looking for a good pre-pay, I recommend the BMO prepaid travel Visa. I have one and was only charged $9.95 once for it. You fund it via your bank account (just like a bill payment) and I haven't been charged anything else with using it.
On Apr 25, 2010, Done Said:
As of this month I'm getting a second fee on this card. over $9.00 for a monthly bank account fee... for a bank account I don't have. It's pretty ridiculous. It brings the fee up to $17.00. I'm canceling the card this week. If you are in a jam and you need the loan, or to make an important online transaction it's good, but get rid of it asap.
On Mar 29, 2010, peter de groot Said:
I have both the titanium and freedom cards, yes they are abusive, but all of canadian banking is abusive. They are the cheapest way to pay for an online transaction when your credit rating is destroyed. Repairing your credit rating is impossible when you are self-employed without a regular job. The trick to these cards is to use them only for the purchase required, and absorb the ridiculous cost as part of the necessity of the transaction. They are the only alternative for a person with a destroyed credit rating (i was nearly killed in an accident and had to self-employ for survival, with no govt or private help) in a corrupt, feudal country that permits the banks total control and subjugation of credit along corporate lines/terms. Many Natives use them, as they do not qualify for credit. Credit is only available to corporate employees. Private people are, in essence, out of luck.
On Feb 28, 2010, Robert S. Falzon Said:
Hi, my Freedom master card was stolen and I cannot find out how to report it...there is no # to call or any info on about what to do...I'm freaking out here! Can somebodu help me?
On Dec 1, 2009, Titanium Card Sucks Said:
Titanium Plus - Money Mart Sucks
Same crap as all the other prepaid cards.(Peoples Trust Company) High Fees, very poor customer service if you can get some one. Or even speak English clear enough to understand.
It takes 48 days to get your deposit back on a car/Truck rentals. Plus all the other fees are included x 2 cause your over 30 days plus the rental fees. It is just cheaper to buy a beater with insurance than to deal with these A**holes.
This card totally sucks.
On Nov 23, 2009, THE FREEMDOM CARD SUCKS! Said:
i went to the cash store and got a loan from them they told me i had to play the loan plus intrest by a certain date now i came in on that day to pay my bill and after paying my bill i came home to find out the next day they took the money out of my bank account to i went back to fix the problem but they wouldnt refund the money until i spent money to get proof that they took the money now this took me a week just to get my money back!!!
On Sep 17, 2009, VERY UNHAPPY Said:
Be Very VERY Careful with this Card as it is not what it seems, i recently had a withdraw taken from my card - with it being a "PRE PAID CARD" - I UNDERSTOOD THAT THE MONEY I PUT ON THE CARD WAS THE ONLY AMOUNT AVAILABLE ~ In Actual Fact- There was a Withdraw from a very unprofessional business who was able to Take almost $200.00 without consent nor signature and the kicker was, I did not have that amount on my PREPAID Card. So NOW i Owe. It showing me being in the MINUS ? (whats the point)= when Prepaid Freedom MASTER CARD Should NOT have allowed ANY Outgoing money that was not on the card to begin with. So As a PRE PAID Card It is NOT Trust worthy nor Reliable and when i find out where i can get this across to the main supervisor of this Freedom Master card company that what they did by allowing a random business the access to withdraw without the funds i will be CHOPPING it up. NOT WORTH IT!
On Aug 17, 2009, T. Laforet Said:
stay away from this card and the store.
If you borrow 150$ you have to pay back 260$
It is ridiculous.
Money mart is cheaper
On May 1, 2009, Ottawa_Chap Said:
Goto a bank you haven't yet dealt with, and request a secured Visa or M/C. My guess is you'll need $500-$1000 to get started; and those funds will probably be placed into a GIC, which your card will be secured against.
On May 1, 2009, DaleHobden Said:
I understand there is a freedom card in VANCOUVER,or somewhere on the west coast,that has a card that helps people reastablish thier credit.. If this is true,how come this is not also available here in Ontario..I,am looking to reastablish my credit,although it is nice to have this card it does nothing to help my credit...
On Jan 19, 2009, Guppydumpling Said:
Make sure the company you are trying to buy from on line will accept the card or you are pretty much screwed if you try to get a pre-authorization removed. It can take up to 47 days when it should be done instantaniously. Forget about trying to get to speak to a supervisor...impossible. When you try and check to see if your money has been returned to the card they charge you a $1.00 each time you request a balance. STAY AWAY FROM THESE CROOKS!!!!
On Dec 14, 2008, Monty Loree Said:
these cards are meant for those who don't have bank accounts... that pretty much describes it all
On Dec 13, 2008, Ottawa_Chap Said:
First thing that caught my eyes as well were the fees. Pretty damn expensive to carry this "Financial Tool" around.

Then again, for those new to the country, or for those who have really screwed themselves, this may be their only solution for "debit" like transactions. Also, I'm not up on the Cash Store's cheque cashing rate, but if one were to cash a cheque there then load the funds directly onto the card, they'd really be taking a big hit.

Seems like these "Cash Store's/Money Mart's" are really tuned in to squeezing dollars from the desparate and the ignorant.
On Dec 12, 2008, Vitzbitz Said:
Ah yes, reminiscent of the Money Mart Titanium Card.

Aside from the rather high costs of maintaining these cards, I recall that they were immediately recognizable by the fact that they have flat printing for the name and card number (as opposed to the embossed or raised numbers on a normal credit card).

These things are often confused with "secured" cards, but your CSR was absolutely right, they don't report to credit bureaus, mainly for the same reason as your savings account... there's no credit extended, you're spending your own money.

Expensive. Getting a secured card and fixing your credit would be a much better way of spending your money (this card costs $100 a year just to have it, using it costs extra).