AccountNow.com Review Is It a Scam
First and foremost i want to make it clear i am not affiliated with accountnow.com in anyway shape or form this blog post is for information and educational purposes only this blog is intended to market information to help rid the internet of the saturation that plagues consumers online worldwide, and hopefully open the eyes of many you in hopes of making this world a better place.
AccountNow.com my feelings
When i see AccountNow.com I see a disaster waiting to happen. I’m not really into the whole prepaid card thing personally. From my view it costs the consumer more then just having cash on hand or simply just opening a basic checking account. Also for the record AccountNow is NOT a credit card it’s a debit card. It’s a debit card simular to a Gift Card you can buy at a gas station or a retail store. Another thing to take not of is the AccountNow.com debit card WILL NOT be reporting to any credit bureaus as a credit card.
AccountNow Is a Prepaid Debit Card
The reason i am telling you this is because if you go to the AccountNow.com website well from my end it says “A prepaid card that lets you borrow money and build credit history” in big BOLD words and in small writing underneath it says “with iadvance line of credit from MetaBank”. So the perception by the customer might be a prepaid card that helps you build or rebuild credit history which is far from the case with Account Now.
Pre Paid Credit Cards Why most people don’t use them
Pre paid cards have so many restrictions and in many ways are a waste of money. Most people find when using a pre paid card that they have to be extra careful how they spend their own money because there are so many fees associated with a pre paid master or visa card. So to give the customer the illusion of something better Account Now in my opinion has come up with a marketing plan to make customers feel like they are getting value in their pre paid debit card.
Ofcourse what this really means is that they are looking for customers for MetaBank and I advance and what better market to further exploit then those that are new to credit or those that are having a hard time dealing with their bad credit history.
Unless you have declared bankruptcy or you are in a position where the bank will not talk to you I see no reason to sign up to AccountNow or even consider using them. If you are looking to build Credit I highly recommend you get a secured credit card like the Public Bank Card or something simular.
Why Use Secured Credit Cards
A secured credit card gives you almost all the benefits of a regular credit card except the that you there’s usually an annual fee to use the card. A secured credit card works almost like a pre paid card except well with the Public Bank Card you have to pay $200 minimum upfront. Once you pay this $200 fee that same $200 becomes your credit limit. With this secured credit card you begin getting credit history reporting, because this secured credit card reports to all the major credit reporting agencies these cards have no risk to the issuer and puts the power back in the hands of the consumer because your spending your own money the same way you would had you used a per paid or debit visa or master card. Everyone excepted and you can use this method to pay your bills for FREE.
Account Now Fees
Honestly my recommendation is unless you’ve declared bankruptcy you should stay away from these cards. If all the banks won’t talk to you consider getting a secure card like the Public Bank Card If you still want to get the AccountNow debit card I also highly recommend you read their pricing and fees page found here http://www.accountnow.com/services/fee-schedule.aspx From my perspective all these pre paid cards are a complete waste of money. if you can avoid them AVOID THEM. Please leave me and comments, complaints or questions below.