Credit Card Details

The Western Union® Prepaid MasterCard®, issued by BANKFIRST, is a stored value card designed for those who may have difficulty in obtaining an unsecured credit card. Although the card does not require a bank account to be opened, it does require payments in advance, which are then used to offset future purchases made with the card. The card can be funded at participating U.S. Western Union locations for $3.95. The card may also be funded directly from the cardholder's paycheck onto the card account. The funds from the paycheck are then automatically loaded to the card every pay period. Loads cannot exceed more than $2,500 and there is a maximum of $9,500 that can be added to the card in a one-month period. There are some fees associated with this card. Although there is a non-refundable $9.95 enrollment fee that must be paid during the initial card load, this is extremely reasonable since most other prepaid cards have application and processing fees that are much higher. There is also a monthly account maintenance fee of $4.95, which amounts to $59.40 annually. However, the monthly account maintenance fee will be waived for the statement period immediately following the date on which a direct deposit load is posted to the card account, which allows cardholders who sign up for direct deposits to greatly reduce the fees associated with this card. It is important to note that this card does not report cardholder transactions to credit bureaus, which may be considered a major drawback for those who are trying to establish credit. Therefore, those who are looking for a stored value card with the opportunity for very low fees and do not need to build credit may find the Western Union® Prepaid MasterCard® to be a beneficial option.

Most Attractive Feature(s): No credit checks; no security deposit required; card can be funded at participating U.S. Western Union locations.
Least Attractive Feature(s): Monthly maintenance fee; does not report to credit bureaus.

Additional Perks

Various Internet account related services.
See website for additional benefits.

Rates & Fees