A credit score below 600 falls into the “bad credit” category. There are a few ways you can end up in a tough spot: you miss some payments, you have an account go to collections, you declare bankruptcy, or you experience a foreclosure. These mistakes, big and small, can severely damage your credit score and make it difficult for you...
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- Use Direct Deposit - get your paycheck or government benefits check up to 2 days faster
- Get your money faster when you E-file and direct deposit your tax refund to your Control Card!
- Simple fee plan with no cost to order or activate a card and no overdraft fees
- Qualify for a $10 Purchase Cushion and $5/month fee plan after a Direct Deposit of $500 in one calendar month
- Earn Cash Back Rewards & Refer A Friend bonuses
- Free Bill Pay and online budget management tools
- Transfer money to other cardholders online or with your mobile phone
- Free Smartphone App - check your transactions, balance and find the closest reload location
Poor Credit Accepted
- Free to transfer money from one Control Prepaid Mastercard® account to another through the website or text message service.
- $10 dollar overdraft allowance and reduced monthly fee if you deposit $500 or more in a single month
- No fee for direct deposit or
- 3.5% foreign transaction fee
- Small fees for ATM withdrawals and transactions using the customer service hotline, though most fees can be avoided
The Simple Dollar’s Review
There are plenty of people out there who are unable or unwilling to open a bank account. But without a bank account how do you cash a paycheck or manage your money? That’s where a Control Prepaid MasterCard® comes in handy. Your employer can directly deposit your paycheck into your account, and then you’re able to use the card just like a debit card. Buy things at stores, pay bills online or get cash at ATMs. It’s simple and convenient.
That being said, there are a few cool advantages and a couple downsides you should keep in mind:
First the good stuff. It’s free to have a paycheck directly deposited into your account and it’s free to transfer money from one card account to another. So, for example, if you have a son, daughter, or relative travelling or living far away, and you need to send them some cash, then you can transfer money from your card to their card for free. It sure beats wiring money or mailing a check!
As for the downsides, like with many prepaid cards, you’re going to get hit with some annoying fees if you’re not careful. But if you pay attention, most of these can be avoided.
- First, the card costs $7.95 per month, but if you simply have $500 or more deposited into the account over the course of a month, you’ll qualify for an “upgrade” and only pay $5 per month indefinitely.
- Second, never use the card at an ATM if you can manage it; there’s a $2.50 fee per each withdrawal, plus any ATM owner fees. So if you need cash from your card, use the “cash-back” option at a retailer. This won’t cost you anything.
So if you’re looking for a simple way to move send or allot money to family members, or just want an easy alternative to a checking account, this card is a good choice. It has minimal fees and most can be avoided if you just take a quick look over the the contract.
You know about credit cards and debit cards, and you may even be familiar with secured credit cards, but did you know there's another option out there? Millions of Americans rely on prepaid credit cards to handle their finances. Prepaid credit cards work just as you'd expect: after acquiring a card, you load it with money. As you spend,...