Prime Mutual Prepaid MasterCard® Card

No Employment Verification No Credit Check No Interest, Ever No Security Deposit

Review: The Prime Mutual Prepaid MasterCard® Card, issued by New Millennium Bank, is a stored value card designed for those who may have difficulty in obtaining a standard unsecured credit card. When applying online, a bank account is required to fund the card. These advance payments are then used to offset future purchases made with the card. Advance payments can be funded directly from the cardholder's paycheck and automatically loaded to the card every pay period. The card can also be loaded with a credit card, a debit card, a checking account, or by making a cash deposit at any authorized Heritage Payment Processor or retail distributor. Each time the card is loaded, a fee is applied to the account. Cardholders will be granted access to the Credit Builder Elite Status Member privileges for a free 30-day trial, including credit report access, roadside assistance, a health prescription discount card, and the opportunity to establish credit by having the card report to a major credit bureau. There is an optional monthly charge of $19.95 to continue to participate after the trial expires. There is no interest applied on the account, no annual fee, and no other similar charges found with most unsecured credit cards. There is an application fee of $59.95, a processing fee of $90, and a minimum initial deposit of $10. There is also a monthly participation fee of $5.95 that amounts to $71.40 annually. In total, cardholders can expect to pay $221.35 in fees the first year. There are fewer qualifications required compared to other unsecured credit cards. There are no credit checks, no turndowns, no security deposits, and no employment requirements. The only requirement is a verifiable address in the United States. Therefore, those who are looking for a stored value card with flexibility to pay in advance for purchases and do not mind paying upfront fees may find the Prime Mutual Prepaid MasterCard® Card to be a beneficial option.

Date of Review: 2006-04-11 00:00:00

Notes: No credit checks. No employment verifications. No security deposit. ***The total initial fee includes a $59.95 application fee, a $90 processing fee, and a $10 minimum deposit. ****The monthly maintenance fee for this card is $5.95 ($71.40 annually). The monthly maintenance fee for this card including a monthly paper statement by mail is $7.95 ($95.40 annually). Various additional fees associated with the card, see website for additional details. See website for complete terms and conditions of card usage and application disclosure.

Additional Perks: Free 30-day Credit Builder Elite Status Member trial offer. No liability for unauthorized transactions. Various Internet account related services. See website for additional benefits.