The Wired Plastic + Rewards Stored Value MasterCard® issued by BANKFIRST is ideal for those who have difficulty getting an unsecured credit card
(Review Date: January 14, 2014)
Most prepaid cards have very few, if any, benefits. The Wired Plastic Prepaid Visa card is different from most prepaid debit cards because it does have benefits, including a innovative reward program, automatic bill payment, and direct deposit. The Wired Points Reward program provides the cardholder with one point for every dollar spent on all purchases. These points can then be used to purchase goods such as music downloads, long distance calling cards, ring tones, or prepaid wireless time. In addition, there is no limit to the number of points a cardholder can earn and the points never expire.
Another feature that sets this card apart from other prepaid credit cards is the fact that a security deposit is not required. Advance payments, however, are required in order to offset purchases that will be made with the card. A minimum of $10 has to be in the account at all times, but there is no maximum for the amount of money that can be added to the account. In addition, there is no annual fee associated with the card and no interest payments. Unlike many prepaid credit cards, there is also no required credit check, no required employment verification, and no need to have a bank account in order to receive the card.
Although there is no annual fee, no security deposit, and no interest with this prepaid debit card, there are some fees associated with the card. For example, there is an application fee of $9.95. There is also a monthly maintenance fee of $3.95, which totals $47.40 per year. Furthermore, additional cardholders can not be added to the card.
There is a minimum deposit of $10 with this card and a maximum deposit of $2,500. This money can be added to the card in a variety of ways, including bank transfers, wire transfers, and payment through various merchants. Direct deposits can also be made with employer checks, government checks, disability checks, and dividends. There is a $6.95 fee for placing money on the account with a wire transfer. All other methods, except going through a merchant, are free. The fee for going through a merchant varies by location. There are no fees for being an inactive member of this prepaid credit card.