The AccountNow prepaid Visa card offers everyone the chance to own a Visa or Mastercard. The benefits of having a Visa or Mastercard are many — unless you want to carry cash around with you all the time, you have no option for spending your money other than getting a piece of plastic. AccountNow Prepaid Visa or Prepaid MasterCard card can help you manage your money and does it cheaper than most of their competition.
Unfortunately, many Americans have difficulty obtaining a line of credit, due to poor credit decisions in the past, or simply because they have no credit history. This prepaid card helps you navigate an electronic consumer economy if you have problems getting credit. If you want to become a Visa or MasterCard cardholder who is building a better credit score, AccountNow does nothing to assist, because it doesn’t report to the credit agencies. It has nothing to report, because prepaid is more like debit than credit.
If you want to build, rebuild, or repair your finances, you should take the money you would be putting into a prepaid card and instead use that cash as a security deposit for a secured credit card which reports to Experian, Equifax, and TransUnion. That is the best way for someone with a bad credit rating to change their financing situation.
AccountNow has a number of benefits, though. Below are the reasons consumers should consider a prepaid card.
Benefits of an AccountNow Prepaid Credit Card
There are many benefits to opening an AccountNow prepaid Visa or prepaid MasterCard account. Your card will work like a checking account, without having to go through the hassle and embarrassment of a credit check. Keep your money safe in a prepaid account. Your money will be FDIC insured like a regular checking account, which ensures the safety of your money.
AccountNow prepaid Mastercard and Visa accounts come with a prepaid card featuring the debit logo, meaning you can use your card anywhere that card is accepted worldwide.
Not only can you make purchases and withdraw cash with your prepaid debit card, but you never have to worry about overdrafts or credit card bills — you can only spend the money that you’ve added to your account. AccountNow is a flexible way to pay which is supported by both VISA and MasterCard.
I do not recommend people use this card if you’re trying to rebuild their credit. AccountNow DOES NOT help people build their FICO score or rebuild the damage to your personal financial reputation, because the provider does not report to the credit agencies.
Below are the details of this program, including a review of the brand’s fees, benefits, rewards, and services.
AccountNow Visa or Mastercard
The AccountNow prepaid card is a Visa or Mastercard brand debit card that you can use to shop at retail stores, pay bills online or by phone, make hotel and car rental reservations, and purchase retail goods or financial services wherever Visa or MasterCard is accepted. Also, you can withdraw cash at virtually any ATM or bank nationwide.
When you compare the services offered for free by AccountNow to accessing these same services without a traditional bank account or debit card, you’ll find you can save hundreds of dollars a year on fees associated with check cashing and bill payment.
Since I first published this page, the AccountNow prepaid program has changed significantly. In most cases, those changes have been updates for the times. Technology has changed and the economy has changed, so the
Activation Fee and Age Requirements
New cardholders must pay a one-time activation fee of $4.95. No mininum balance is required. To use AccountNow, you have to be 18 years or older. Once you apply, it takes 5 to 7 business days to get your card. AccountNow is an accredited service. It has been a part of the Better Business Bureau since February 2006.
Everyone Is Accepted
100% of people who apply for AccountNow are accepted. This is a prepaid plan, so there is no reason for a VISA or MasterCard network member to decline the application.
This program is not only for people with bad credit, but consumers with perfectly good FICO scores who want to protect their money safe by carrying around a prepaid card instead of a credit card. Deposits made into the account are FDIC-insured through the Issuer of the card. The insurance runs up to the federally-instituted limit of at least $250,000.
Lower Monthly Fees
Using AccountNow can be worth over $500 to check cashers over the course of a year. Consumers get free check cashing, direct deposit, bill payments, money orders, and checks. The monthly fee is $9.95, while the ATM fees (based on three withdrawals) is $7.50. When you consider that someone with no bank account would pay about $60.00 a month for the same services, you end up saving over $42.00 a month in transactional fees. The average cashed paycheck costs 2.25%, but it is free through this program.
Because there are only small fees attached to your AccountNow prepaid debit card, you will save hundreds of dollars a year. Instead of using traditional checking accounts, credit cards, bill paying services, check cashing, or bill paying services, your AccountNow prepaid Visa or Mastercard can perform all the functions of traditional bank accounts and credit cards, at a substantially lower rate. Since everything is paid up-front, there are never any late fees, finance charges or overdraft fees. Your AccountNow credit card gives you access to unlimited bill paying free of charge — there’s no need to pay for postage or money orders, or pay check cashing fees to access your paycheck. Also, you’ll never have to pay to cash your benefits or payroll check when you use AccountNow’s free direct deposit service.
Guaranteed against Fraud
The AccountNow Prepaid Card is guaranteed against fraud by whichever credit card network issues the card. That means you’ll receive either the Visa Zero Liability policy or the the MasterCard Zero Liability policy on financial transactions.
To add cash, cardholders make a deposit at any one of 135,000 locations worldwide. As is standard in the industry these days, direct deposit is an option. Direct deposit puts the money in your account up to 2 days sooner than snail mail checks and payroll checks. What many taxpayers don’t know is you can set up a direct deposit for a tax refund with this card.
Sign up by clicking the “Employer Paycheck” or “Government Benefits Check”.
Discounts and Rewards
When you make qualifying direct deposits, you can earn a $15 bonus to your AccountNow Gold Visa Prepaid Card account. The deposit amount is “at least $500 in qualifying deposits per month via recurring direct deposit in two or more consecutive months”. Once you do this for the second month, you’ll need to redeem the bonus within 30 days of meeting the qualifications by calling toll-free 877-553-3767. Read the full terms and conditions to make sure you make a “qualifying direct deposit” or else you won’t get the reward or cash back. Discounts apply with certain transactions.
Referral bonuses for when you refer friends to the program are also offered. The Refer-a-Friend Program allows you to earn $20 for you and $10 for each friend you refer to the program. The freind has to sig up and add money to their account (qualifying money).
To enroll in the program, set up a personal referral code. After this is done, you can refer friends online via email or through Facebook, Twitter, and other social media outlets. When they sign up using your personal promo code, it acts as a coupon code for them and an affiliate referral for you. Both you and your friend get rewarded.
ATM Withdrawals and Retail Store Purchases
Shoppers can use their AccountNow Prepaid Card to withdraw money or make purchases. The card can be swiped anywhere Debit MasterCard or Visa debit cards are accepted. This runs to millions of outlets across the United States, and even international locations. The prepaid card can be used for rentals of hotel and motel rooms, airline tickets, and car rentals.
Bill Pay Service
Cardholders also have the option of using “Bill Pay”, which allows them to pay bills online. To add a payee, simply input their name, address, and account number. Then click to add them to your personalized list of payees.
Once this is done, you can choose to send a payment through snail mail or electronically. To make an electronic payment, the payee must accept Electronic Funds Transfers or “EFTs”. If so, your monthly bills can be paid on the Internet with no hassle. “Bill Pay” is fast, easy, convenient, guaranteed, and free.
Customers who have an issue should call customer services Monday through Saturday between 5 am and 5 pm Pacific Standard Time (PST). If you have questions on Sunday, call between 7 am to 4 pm, Pacific Standard Time. AccountNow’s number is 866-925-2036.
Is Not a Credit Card
AccountNow prepaid Visa and prepaid Mastercard accounts do not extend credit like traditional credit cards — this means you can’t spend money you don’t have. Since you are only spending money you add to your prepaid card account, you can avoid falling into debt and possibly damaging your credit score. Because you’re not technically “borrowing money” from AccountNow, you will never have to worry about finance charges, late charges, or over-the-limit fees, not to mention avoiding credit checks in order to secure your Visa or Mastercard.
PrePaid Cards and Credit Scores
Using the AccountNow prepaid Visa and prepaid Mastercard accounts is convenient. It will not help you build or establish your credit history, though. Therefore, while these prepaid cards are helpful in everyday usage, I cannot recommend them to shoppers who want to build credit. It is better you open a credit line, even if that involves a secured line of credit. Only by finding cards which report to the 3 credit agencies are you building a better credit history.
How to Establish Your Credit History
For those who came to this page wanting to rebuild their credit, here is a quick tip.
By paying your bills online for free (saving time and money in the process) you will demonstrate to future creditors your “credit worthiness”. a free credit builder program that reports your bill payment history to PRBC, a nationally recognized credit bureau. Second, when you use a line of credit (which is a cost-effective alternative to payday or cash advance loans), a traditional credit card company will report your payment history to the major credit bureaus.
Zero Liability and Guaranteed Approval
To help keep your hard earned cash safe, your AccountNow prepaid Visa or prepaid MasterCard card is protected against fraud with Zero Liability coverage. This protects you from unauthorized charges made to your prepaid card account in case your card is lost or stolen — you will not be held responsible for fraudulent charges made with your card.
Getting an AccountNow prepaid Visa or prepaid MasterCard card is easier then qualifying for a credit card or checking account. AccountNow’s “100% guaranteed approval” ensures you will qualify for one of their prepaid debit card accounts, as long as you have valid identification and a valid Social Security number. Check out their website at AccountNow Prepaid Debit Cards for more information and to sign up for your AccountNow prepaid Visa.
If you have bad credit history or no credit at all, don’t stress yourself out. You can still get an AccountNow prepaid card — AccountNow will never check your credit before issuing a prepaid debit card. Even if your banking history is spotty, or you are red flagged through ChexSystems or another checking account warning program, you are still eligible to get an AccountNow prepaid debit card account.