The Mango Prepaid MasterCard is a convenient and affordable method of payment for people interested in alternatives to credit cards or common banking. Traditional credit cards require credit checks and they can be difficult to manage and obtain in the first place if you have a less than stellar background.
This card is very affordable and includes all of the same benefits as credit cards.
The Benefits of the Mango Prepaid MasterCard
- Credit Card Alternative
This card really shines as a true alternative to a credit card. It is a MasterCard, so it can be used online or offline to make purchases or ATM withdrawals. Since it is a prepaid card, there is no need for a credit check or harsh penalties for missing a payment as you can only spend the amount that you put on the card. This helps you learn how to manage your money safely without the risk of overdraft fees, late payments, or any other hidden fees. It is also safe and secure as it is insured by the FDIC.
One of the main benefits of this card is that it is very affordable and even free in most cases. The card comes with a low monthly fee of $5, which can be waived if you add $500 to your account each month. ATM fees are very affordable as they are only $2 per transaction. You can load the card for free through your bank account or you can purchase MoneyPak cards to load the funds. There is a $20 bonus when you enroll your card in direct deposit. It is free to check your account online and there is even app that allows you to manage your account on your mobile phone.
- Additional Bonuses
There are a number of benefits related to the Mango Prepaid MasterCard that you can use if you choose to do so. Anyone with a Mango Prepaid Card is automatically receives the Mango Virtual Card, which is essentially a card number that you can use safely online in lieu of your actual MasterCard number when making online purchases. There is also an optional Mango Savings Account that you can open and offers up to 6.00% APY. Finally, there is also RentSafe Insurance available at a low cost with your card that will protect your purchases depending on the amount of coverage you would like to receive.
The Mango Prepaid MasterCard offers all of the benefits, but none of the risks associated with the credit cards. You have nothing to lose as you can only spend what you have on the card, it is FDIC insured, and it even comes with a virtual card to make secure online purchases.
Although they do not offer their own Bill Pay service, ChargeSmart allows a customer to use the “virtual card” that Mango gives you to pay your auto loan, student loan, mortgage, utilities, and much more online.
It is highly recommended for anyone that is looking to ease their way into credit cards without all of the fuss.