Mango Money Card - Prepaid MasterCard Review

Published: 11th January 2012
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The prepaid Mango money card is a debit MasterCard. It is issued through Horizon Bank who is a member of the FDIC. It is not only insured by the FDIC but you are also covered under MasterCard's liability policy, this protects your money in case your card is ever lost or stolen.

The issuer really emphasizes savings and financial responsibility. They will provide you with a free savings account that earns a 6% annual percentage yield, this is a relatively high interest savings account. This is yours at no additional charge and simply to encourage you to set aside for a rainy day.

You also will be given online account access and you can sign up for text messages and e-mail alerts about your account activity at no additional cost. This will make managing your money a much easier task, than balancing a check book.

It will provide you with the same benefits that a checking account would and without the potential risk of overdraft fees or bounced check fees. You will be given on online bill pay service that is a method to send a payment to pay your bills. This will save you time and money by avoiding having to go to the store and buying a money order, and then having to put in the mail.

You're also given access to free direct deposit. You can use this for payroll checks, Social Security checks, unemployment shocks, pension checks… This will give you access to your money quicker than going and picking up a check and then going to wait in line. It also will save you the money by not having to pay a check cashing fee.

The is a low $5 monthly maintenance fee, however if you deposit $500 or more in a month this fee is waived. In other words as long as you deposit $500 every month you will be able to use your mango card entirely for free. If you don't deposit $500, a $5 fee is very competitive as we have seen others offers charge up to $19.99 per month.

You are also going to be given access to a unique service called YAP. This service enables you to send money and receive money by using your card. The ideal situation for this, is a financial emergency when money either needs to be sent or received as soon as possible.

This card is a major MasterCard and will be accepted everywhere you see the logo displayed. You can make purchases online, over the phone, worldwide, and use it just like a regular card. There is no credit check or bank account required, it was intended for individuals with a bad credit rating or that have been placed in ChexSystems and are unable to get a banking account.

Don't continue to suffer the high cost, expense, and embarrassment of living without access to a checking account. This card will provide you with a checking account and with the power of a major MasterCard in your pocket.

It would also be wise to take some action and prevent yourself from having a bad credit score again. Contrary to popular belief it is entirely within your legal right to dispute and are move bad credit items from your reports. This is been found to be the most effective way to improve a low score.


For a furthe review of the prepaid Mango Cards or to learn more about pre paid credit cards visit us.

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