The AccountNow Prepaid MasterCard is a debit Visa or MasterCard great for anyone with past credit problems who might find it hard to obtain a standard credit card. While this prepaid card isn’t a credit card in the sense that you can charge items and pay for them later, it does provide many of the benefits of a regular credit card.
Since the card we used for the review purposes is a “MasterCard”, it’s accepted in all locations where MasterCard is accepted, allowing you to make credit card purchases. While the card behaves like a debit card, it doesn’t require you to open a bank account to use the card and isn’t tied to any existing checking or savings account that you have. However, you are required to make payments before you can use the card. Payments that you make are held in an account and used to offset your purchases made with the card.
Loading money onto the card is relatively easy. You’re able to have payroll checks direct deposited and loaded to your card. You can also wire money from your bank account or use MoneyGram ExpressPayment. You have the ability to load a minimum of $10.00 and maximum of $5,000 onto your card on a given day. The maximum you can have loaded onto your Vantage card at any time is $10,000.
Certain fees apply to usage of the card. A non-refundable $9.95 activation fee applies. A monthly maintenance fee of $4.95 also applies. The minimum amount of fees in the first year is $129.35, if you have the least costly account plan. There’s also a $0.50 fee for each transaction made using your PIN (please see the offer terms and conditions for updated fees).
Like many prepaid credit cards, the AccountNow Prepaid Card does not offer many benefits beyond basic usage of the card to make purchases. It does provide a free bill paying service.
If you are interested in the AccountNow Prepaid Card, you have three different account plans to choose from. Each of these plans has a different fee schedule, so it’s important to review the terms and conditions of each before deciding on a plan.
Listing of our Top Credit Cards for those with less than perfect credit