In todays economy most consumers cannot qualify for a traditional credit card because they do not have the necessary credit score. With this being the case, many consumers are moving to prepaid cards as a new card choice to improve credit scores or rebuild thier credit history. Both the traditional credit card and the prepaid cards are accepted whereever Visa or MasterCard are accepted but it works slightly different.

With a traditional credit card the consumer must qualify for an unsecured line of credit. This means they can use the credit card and pay at a later date. Unsecured credit cards require the consumer to make a minimal monthly payment including the interest rate associated with the card. These unsecured cards also charge an annual fee. This type of credit card is usually not able to take money from an ATM but can be used everywhere Visa and MasterCard are accepted.

Prepaid credit cards off the consumer the same convenience as the traditional credit card however the consumer must have a balance on the card to make a purchase. In this way the prepaid card is more similar to a debit card than a credit card. It works by the consumer depositing onto the card account via government benefits or by direct depositing thier paycheck onto the card. The consumer can also load the card with cash at any Western Union to activate as well. Once the funds are on the prepaid card the consumer makes purchases and the money is automatically deducted from the bank accout.

If you are looking for the convenience of a prepaid card or simply want to stop paying all the interest of your current traditional credit card then you're at the right place. We can open up your new checking account today complete with checks and a new prepaid MasterCard card. These cards can be used everywhere MasterCard is accepted and can be used for making online purchases as well as ATMs and bill pay.