Capital One Prepaid Card
Capital One has recently entered the prepaid debit card market by launching a prepaid MasterCard. These prepaid, debit, reloadable cards are not credit cards. However your Capital One MasterCard will be accepted online, over the phone, to rent a car, to book hotel accommodations…
The prepaid and debit cards were initially created and marketed to individuals in ChexSystems or unable to get a bank account. This is because many prepaid debit card offers provide direct deposit with no fees which eliminates consumers from paying check-cashing fees. Additionally many debit cards also provide an online bill pay system.
This online bill pay system is a convenient way for cardholders to pay their bills without going to the store to purchase a money order, mail in a payment… They are also ideal because there is no credit check and in today's economy it has become required of consumers to have a MasterCard or Visa.
These reloadable prepaid cards have grown in popularity and their are many more offers available today than in the past. Thus, it is important to do the proper research and make sure you get a reputable and legitimate prepaid debit card with minimal or no fees.
Capital One Prepaid MasterCard - How Does It Work
As mentioned this is not a credit card and instead is a prepaid debit card. Therefore before you can use your Capital One Debit Card to make purchases you must first deposit money in your account. This can be done for free by using direct deposit, you can also deposit cash at a Western Union locations, or by transfering money from a bank account.
There is no activation fee and your Capital One Prepaid Card is protected with a $0 fraud liability in case of theft or simply losing your card. The money you deposit in your Capital One prepaid account is FDIC insured.
You will pay a low $4.95 monthly maintenance fee with Capital One Prepaid. You can sign up for free text and e-mail alerts about your account activity.
However you can rest easy because you will never be charged an overdraft fee, bounced check fee, late payment fee or any interest fees ever!
This is definitely one of the more competitively priced reloadable prepaid debit cards we have reviewed, additionally it could prove interesting to see if Capital One begins to market their other bad credit cards to the prepaid consumers.
Additionally if you haven't heard Capital One recently purchased Orchard Bank and the US credit cards offered by HSBC Bank, in other words Capital One has staked a BIG claim in the bad and no credit atmosphere.
About the Author
For a complete review on the Capital One Prepaid MasterCard visit us or for more about how to get help with chexsystems visit us at http://www.yourbadcreditcard.net/capital-one-prepaid-mastercard/
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