Millennium Advantage Pre-Paid MasterCard®
Our Rating:  |
 |
|
|
|
|
Key Features
- Use Your Card at Over 900,000 ATMs and Millions of Locations Worldwide!
- No Credit Check or Income Verification Required
- No Chexsystem Check
- No Minimal Balance Required!
- Phone and On-line Account Access
- Shop and Pay Bills On-line!
|
|
|
|
|
|
A stored value credit card is more than just a checking account with a debit card attached. You get some very nice benefits as well. Such is the case with the Millennium Advantage Prepaid MasterCard from New Millennium Bank.
You will make payments in advance into an account set up in your name. These payments are accumulated into a balance that allows the cardholder to access them with the card. The account can be loaded by transfers between accounts via the Internet, payments sent through the mail, or at load stations located at authorized load partners. You will be charged a $1.00 fee for every reload.
These fees also apply to the cardholder: the activation fee is $99.00. There is a monthly participation fee of $5.95. During the first year, the minimum amount of fees will be $170.40. Also, for those who are attempting to re-establish good credit, this card does not report to the credit bureaus.
Also, these fees cannot be ignored: bill payment fee of $.75 for every transaction for any bill payments made online or via phone. There is a fee of $.75 for every ATM inquiry or decline. A $.50 automated fee applies to the voice automated system used to check the card balance. You will also be charged $1.00 per minute for speaking to a customer service representative. And, you will be charged $9.95 for a replacement card if it is stolen or lost. All ATM transactions are $1.95.
These charges and fees tend to cast a shadow on the concept of prepaid credit cards and the good that they can do in forcing you to live within your financial means. The peace of mind that this can bring is able to negate most if not all of these fees and limitations. If you are in the market for a card such as this, then you should check out the Millennium Advantage Prepaid MasterCard. Review Date: 12/19/2008
| 
