Account Now Visa Card: How Does It Work?
The Account Now Visa card is a prepaid debit card, and one of the most popular cards of its type currently on the market. Prepaid cards have had a lot of media attention in recent times, as they are now being regarded as a great alternative to standard credit cards. Here we provide a brief guide as to how this popular product works.
Step One: Apply For The Card
The first step is, of course, to apply for the card. Applications are usually made via the Account Now website or an affiliate site. The card comes with 100% guaranteed approval, subject to the applicant meeting the terms of the US Patriot Act. There is no credit check - the reason for this is that the card does NOT offer a credit facility. We will discuss why in step two.
Step Two: Add Funds
Once the card has been received, the next step is to add funds onto it. As previously mentioned, this card is not a credit card, and the owner has to top up using their own money before they can start spending. This is usually done by transferring their pay check to their account via Direct Deposit. It is also possible to add cash at a participating location, such as a branch of Money Gram.
Step Three: Start Shopping!
Once the funds have cleared, the card can be used in much the same way as an unsecured card. As it carries the Visa logo, it can be used to pay for goods and services at anywhere that accepts this method of payment. It can also be used to withdraw cash from an ATM that accepts Visa.
Step Four: Pay Bills
As with a regular credit card, the Account Now Visa cardholder is required to make a monthly payment before a designated due date. The payable amount will be at least a small percentage of the outstanding balance, and is usually paid online or through the mail.
Step Five: Build Credit Score
Perhaps the best feature of this product is that it can be used to build a person's credit score. As long as they make their monthly payments on time, they will see a slow but steady increase in their credit rating. The reason for this is that Account Now offer monthly reporting to a national credit reporting agency.
Summary
By following these five easy steps the Account Now Visa card can give you all of the same uses as a regular credit card, but without the risk of accumulating debt that you may be unable to pay. As with most prepaid cards, however, it does come with several fees and charges for certain services. Always make sure you are aware of these before making any applications.
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For a further review of the AccountNow Visa Card visit us http://yourbadcreditvisa.com/accountnow-gold-visa/
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