Using a Prepaid MasterCard keeps you from overspending and avoid debt. It requires payment upfront and then is debited once you make a purchase. You decide how much money to put on your MasterCard putting you in complete control of you spending.
An attractive feature to know about a prepaid MasterCard is the card does not require a bank account to be opened, a security deposit, a credit check, or have financial charges. The drawback to a card like this is the fees. Knowing before hand and doing the research on fees will save you money and from surprises in the future. Some fees include an application fee, which could be approximately $49 annually (if paid online), a monthly participation fee of about $5.95, which gives your total of about $120 a year. So for people looking for this type of credit card should look into the Vaya Prepaid MasterCard. Look at all the types of Prepaid MasterCard’s and choose the best one for your needs.
Use your prepaid MasterCard anywhere MasterCard is accepted. Use it to take out cash, pay bills, and make purchases online. No more finance charges, late fees, check cashing fees or bank overdraft fees. You spend what you have on the card making you save money instantly.