Credit Card Review: Account Now™ Vantage Debit Visa® Card

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Are you having trouble obtaining a standard unsecured credit card? Perhaps a stored value card is the answer. The Account Now® Vantage Debit Visa® Card, issued by Palm Desert National Bank is one such stored value card. One of the most attractive features for those with credit trouble is that the card requires no credit checks.

Here's how it works. While the card does not require that an actual banking account be opened, it does require that payments be made in advance. These payments are then used to offset future purchases made with the card.

These advance payments can be financed directly from the cardholder's paycheck, and direct deposited into the card every pay period. Another option for loading the card would be through a wire transfer from an established bank account or through Green Dot® Money Pak.

As with most cards designed for those having difficulty obtaining a standard unsecured credit card, the Account Now® Vantage Debit Visa® Card has some associated fees to consider. There is an activation fee of $29.95, along with a monthly participation fee of $9.95 (nearly $120 annually). Altogether this comes to roughly $150 for the first year alone. On the positive side, it is important to note that cardholders will not be expected to pay any additional transaction fees for purchases made in the United States.

While benefits are rarely seen in stored value cards, this particular card does offer a free bill pay service. This is limited to the first seven transactions in a month. Also provided are access to a free credit builder service, which reports bill payment information to a national credit reporting agency.

The Account Now® Vantage Debit Visa ® Card also demonstrates a certain level of flexibility. With three unique plans to choose from, cardholders will feel empowered when considering the different terms of the fees and services offered. As such, it is important for cardholders to review the terms and conditions before applying to identify which plan will be a better fit for their needs. For the record, the current card review applies to the plus plan.
Who is this card for? It is for people who are looking for a stored value card with the flexibility to pay in advance for purchases, can handle and accept the upfront fees, and would like the opportunity to participate in the credit builder service. With these things in mind, the Account Now® Vantage Debit Visa® Card just might be a beneficial option for you.

(Review Updated: January 14, 2008)

n/a Intro APR (* see notes for details)

Finance Configuration:

Additional Cardholders: $0

Late Payment Fee:

Over-The-Limit Fee: $29 maximum

Cash Advance Fee: $2 U.S. ATM transaction fee (1 free cash withdrawal per month); $4.95 bank teller cash advance and international ATM transaction fee

Minimum Credit Limit: n/a

Maximum Credit Limit: $10,000

Type of Reward: None

Additional Features for Account Now™ Vantage Debit Visa® Card:

Various Internet account related services.
Access to free credit builder program.
Free bill pay service for the first seven transactions per month.
No liability for unauthorized transactions.
Access to Free Direct Deposit.
See website for additional benefits.

Important Notes for Account Now™ Vantage Debit Visa® Card:

This card offers cardholders their choice of three unique plans, which differ in terms of the fees and the services that are offered, so cardholders should review the terms and conditions before applying to see which plan will fit their needs the most (the current card review reflects the premium plan).
There is no transaction fee for U.S. purchases.
$1 fee for ATM balance inquiries.
$1 fee for international purchases.
No credit checks or turn downs.
No employment verifications.
Must be at least 18 and a U.S. citizen or permanent resident.
See website for complete terms and conditions of card usage and application disclosure.

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Notes: The review on Account Now™ Vantage Debit Visa® Card was updated on January 14, 2008. The review is believed to be accurate during the update, however, information posted may have changed since the update. We strongly suggest that you carefully read the Terms and Conditions statement that accompanies the credit card application.