Your Credit Network is proud to announce our second new credit product this week – the OptOne Prepaid Credit Card from Monterey Bank. This prepaid debit card is the latest card available to Your Credit Network clients, and while prepaid cards are generally the most basic cards available this one has a few key differences.
Opt One Prepaid Card – The Basics
When considering a prepaid card you ought to consider its fee structure first and foremost:
Annual Fee: $0
Application Fee: $59.95
Participation Fee: $6.95 ($83.40 annual total)
As of the date of this post, this prepaid debit card has the highest application fee out of all those offered by Your Credit Network. Additionally, the monthly participation fee of $6.95 (or 12 months x $6.95/month = $83.40 total annually) is the second-highest out of the bunch, making this a relatively expensive prepaid credit option for those interested in obtaining a prepaid credit card.
The Prepaid Credit Card Advantage
While the OptOne Prepaid Card might be a little more costly than most prepaid cards, you will still receive the benefits of the prepaid credit application process. This includes:
- No credit checks
- No rejections
- No security deposits
- No employment requirements
You need only have a verifiable address within the United States to which bills and official correspondence can be sent.
Additional Resources:
Kimberly Carte
Team Your Credit Network