US Bank to shut down Visa Buxx accounts

As reported by Miles Per Day, it appears that US Bank is discontinuing the Visa Buxx program for existing cardholders.  They previously stopped allowing new members to apply quite a while ago, but existing members have been able to use their cards and, until last month, even order new teen cards since then.  It looks like those days will soon be over.

Buxx

A reader sent the above letter to Miles Per Day.  The letter indicates (among other things) that the last day to load funds will be October 24th.  Click the picture above to view the full story.

Interestingly, the letter also states that cash advance teller withdrawal fees will be waived effective August 31.  So, getting money out of the account should be easier and cheaper than before.

What’s the big deal?

Buxx cards are debit cards intended for teenagers.  Most Buxx cards (including these) can be loaded online by a parent with a credit card for a small fee.  Usually, you’ll earn credit card rewards (worth more than the fee) for doing so.  And, since they are debit cards, there are ways to unload the money cheaply or for free.

About Greg The Frequent Miler

Greg is the owner, founder, and primary author of the Frequent Miler. He earns millions of points and miles each year, mostly without flying, and dedicates this blog to teaching others how to do the same.

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Comments

  1. I was getting suspicious in the last few days when people lost the ability to add new teens. So far my NW is chugging along. Hope it’s not contagious!

  2. Has anybody else received this letter as the three account holders in my family have not as of today’s delivered mail. The letter is dated 8/31 which is pretty quick to receive correspondence from a fairly large bank. I’m holding out hope that this is a hoax.

    • Well it certainly can be plausible because you have to keep in mind where the letter is coming from. Perhaps if the letter came from a guy who lives in the state where USB is headquartered it would make sense that they could have received the letter in 2 days. Another reason could be that USB probably sent out the letters in the mail late last week but dated it for August 31st since it wanted to account for some time to get it to all their customers throughout the country.

  3. Just signed up for a Capital One 360 MONEY card to replace my daughter’s Visa Buxx card. Seems to have an easier to use management interface too! Still sad to see Visa Buxx go.

  4. I haven’t received the letters yet. Interesting that I have still been able to request replacement cards for my expired cards within the last few days and nothing was mentioned to me over the phone.

    • Stop dreaming and wake up…the USB Buxx cards are closing and thats a fact. I received the letters on all 3 of my USB Buxx cards and so will you very soon. There is plenty of people including FM who have received the letters so don’t think your region you are exempt.

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