Prepaid & Debit Cards FAQS

March 25, 2019
A prepaid card is a payment card that you load with money before you can use it for purchases. Prepaid cards may look like credit cards, as they may have numbers, your name and Visa or MasterCard logo. But prepaid cards are different - you are not borrowing money, you are spending money you loaded onto the card in advance. Prepaid cards give you convenience of electronic payments.
February 19, 2018
ReadyCARDs are issued by Metabank and are prepaid cards. It means that you can use anywhere them debit cards are accepted, including ATMs. ReadyCARDs work similar to debit cards, except that they don't carry a credit line, you will not be charged interest, or late fees. You pay as you go by pre-paying the amount you wish to spend, plus additional usage fees. On the other hand, a credit card gives you a credit line meaning that you may purchase now and pay off later up to the amount of your credit limit. You also have to pay the minimum payment each month until the due date or you may be charges the late fee. If you carry a balance, you may face paying the interest on your balance. If you...
February 15, 2018
Pre-paid card can be great for this sort of thing. AccountNow® Prepaid Visa® Card has an one-time activation fee $4.95. This card comes with $0 monthly fee, but you should clarify further this information in the cardholder agreement on bank's site. When you choose prepaid card, pay attention of what fees are associated with the card. Some cards charge maintenance or other fees. Some pre-paid cards allow the holder to withdraw the cash which means you would not be able to track what the money was spent on.
January 26, 2018
You should apply for the card yourself, and then open up a Family Account. You'll add your son to the account, and you can add funds to your own account, which you will then be able to transfer over to his card. He will be able to access whatever amounts of funds you put on the card, and you can look at the account online to see exactly what he is spending. AccountNow prepaid card is a good card for kids to practice using payment cards. This card comes with $0 monthly fee, but you should clarify further this information in the cardholder agreement on bank's site.
January 06, 2018
No, AccountNow Visa card is a prepaid card. With a prepaid card your credit performance won't be reported to major credit bureaus. If you want to establish your credit history, consider applying for a credit card. Credit card issuers offer some credit cards for people with no credit or a limited credit history. You can also consider application for a secured credit card. Some cards come with low security deposit and rewards programs.
November 04, 2017
Metabank specializes on prepaid cards, so all the benefits of prepaid cards are there for you. Namely, no operations made with prepaid cards will affect your credit, so you may feel safe about your credit history. Prepaid cards won't make you spend more on purchases, because they don't have a credit line and you can spend only as much as you have put there. Besides, it's easy to get approved for prepaid cards - even with a limited credit score you can easily get such a card, because effectively you spend your own money. On the other hand, you won't earn rewards or borrow money for a big purchase, for that you only need credit cards. If you want to apply for a credit card, check out our...
April 28, 2017
Many people have become frustrated with the high fees banks charge for things like accidentally having an overdraft your account, failing to keep a minimum average balance in the account, doing wire transfers, paying bills, and ordering checks. Banks often waive the month fee if you do a bill payment and get a direct deposit into your account each month, but it can be hard to remember to do this, and frustrating every time you are charged a fee. One good solution is to get a prepaid card with no fees. The prepaid card acts in place of a checking account, and you can do nearly everything with it that you would do with a traditional bank account, except for writing paper checks – which most...
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