Closer Look at the Eufora Prepaid Card

In the last few years, Eufora has gained a name among the many alternatives that exist in the financial world. Located in Scottsdale, Arizona, it is considered to be one of the pioneers in the prepaid credit card industry.

Innovative Servicing

One of the most popular financial services offered by the Eufora card was its affiliate program. With this program, a cardholder could refer other people, such as family members or friends, to the card. Cardholders were able to receive almost $1000 in money for every 10 approved cards.

Not surprisingly, the Eufora Prepaid Credit Card won the Top Rated Card for 2003 by CardRatings.com only two years after it was introduced into the market. One of the main reasons the card won the prize was the fact that it offered three different types of benefits, with one of these being the aforementioned affiliate program. The second reason for the reward was its monthly car sweepstakes. With this sweepstakes, all of the holders of the Eufora cards can "buy" a ticket for every hundred dollars they spend with their card with the grand prize being a raffle for a $25,000 to $30,000 car.

Finally, the Eufora card is beneficial because it can be used for building credit. And, in the case of an individual who has such a bad credit history that he or she isn't able to acquire a card, the person can choose to obtain a prepaid debit card. That way, he or she can start to rebuild a solid credit reputation.

Using a Prepaid Eufora Credit Card

In order to comply with the special Eufora card programs, the cardholder must sign a two-year commitment to the card. During this period, the cardholder deposits funds in his or her account. Then, the cardholder can use the card in the same way as a traditional credit card. At the end of each month, Eufora sends this information to TransUnion, which is one of the three main credit reporting institutions in the United States (the other two are Experian and Equifax).

Having a credit card, even if it is a prepaid card, is almost a necessity in today's world. If you want to buy a plane ticket, reserve a room in a hotel, or even do something as simple as buy a book online at Amazon.com, you will need to have a credit card. Although some companies may accept money orders, using them is cumbersome and expensive. Plus, they take a lot of time when compared to using a credit card.

With a prepaid credit card, the owner of the card has access to all of these products and services. And, the seller doesn't need to know that it is a prepaid card. For them, the only thing that matters is that they are going to make the transaction and receive the money for the sale.

Using a Traditional Eufora Credit Card

What about the people who have a good credit rating and don't need to use prepaid cards? For that type of client, Eufora offers a traditional MasterCard credit card (accepted at 600,000 establishments throughout the world). With this card, consumers can start with a low introductory Annual Percentage Rate (APR) of 1.9%, which later changes to 9.9% and is quite low considering the market average.

There are other benefits to Eufora cards that are also worth mentioning. For example, cardholders receive free auto rental insurance for both the gold and platinum versions of the card. Additionally, there is a $100,000 travel accident insurance associated with the gold card, and a $200,000 travel accident insurance for the platinum card. For prepaid credit cards, the benefits are almost the same. In addition, all Eufora cards offer global costumer assistance and lost/stolen card reporting system in case the card is turns up missing or is stolen.