Account Now Gold Visa® Prepaid Card

CompareCards.com Credit Expert Review:

The AccountNow Gold Visa Prepaid Card, issued by Bancorp, is a pretty standard prepaid credit card and is intended primarily for the consumer who has been turned down for a conventional credit card. Prepaid cards are backed by cash in the cardholder’s account, whereas conventional cards allow charges against a preset spending limit based on the cardholder’s good credit.

 So the main value of the AccountNow Gold Visa Prepaid Card card is for the consumer who wants a basic no-frills card with no unreasonable fees or expenses. Use it to make purchases anywhere that Visa cards are accepted, and use it wisely – along with other common sense financial management strategies and it can help you establish a track record of credit history so that you can eventually qualify for a conventional credit card.

AccountNow helps in that regard because it comes with many features and benefits that traditionally have not been available to prepaid cardholders, including higher daily and monthly limits on deposits, withdrawals, and purchase transactions, no monthly service fee for customers who load at least $3,000 on their card in a month and free bill pay.

The Bottom-Line
The AccountNow Gold Visa Prepaid Card is a basic prepaid card with no outlandish fees but no special bells and whistles either.

The Good
Since the AccountNow Gold Card is a prepaid card, you can get one without having your credit checked or your financial history scrutinized. If you set up to have a recurring direct deposit and then make at least two deposits of $100 or more, you can qualify for a $25 account credit. Higher limits and lower fees.

The Not So Good
Unless you load at least $3,000 a month on the card you’ll pay a service fee. You also end up with a basic prepaid credit card, and all prepaid cards have limitations that are not experienced with “normal” credit cards. So you should only get the AccountNow Gold Visa Prepaid Card if you have been turned down for conventional credit cards.