I got an Ultra VX Visa card back in March hoping to raise my credit score. What was not explained to me even though I asked the questions was that You pay $3.95 @ Western Union to load however much money you want to use on your card. You then need to transfer this money to credit to pay down your cl which never goes down (if you use direct deposit you are screwed) because your cl is determined by how much money is loaded onto your card.
I had a cl of 1965.68 which was fine and well however they are reporting to all 3 agencies that I also owe them 1965.68 which we all would read it as a maxed out credit card!!! I called to cancel the card today and was informed that I had to pay 19.38 to cancel the card how I got a neg balance I will never know because I loaded $1500.00 onto the card just last month when I was informed by an agent when I called so upset that this would pay down my cl. All i had to do was load the money and switch it wo credit she said. Which I did. BUT WAIT!!! Once you do this you do not have access to the cash, you can only swipe that card or use it for online purchases! No atm! No cash! They hold your money hostage! Now I have lost almost 100 points on my credit score which was excellent from paying my reg cc's ontime every month.
SO the moral of my story is DO NOT USE ULTRA VX! They will report to the bureaus for you but will only show as a maxed out credit card killing your debt to ratio!!!
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