As part of our series on comparing prepaid credit cards, today we compare the AccountNow and BankFreedom prepaid cards. Both of these cards have become vary popular and offer a number of features and services. Not surprisingly, which card is best for you depends on how you will use the prepaid card. Because of the many features AccountNow offers at no additional charge, however, we give the slight edge to AccountNow over
Quick Comparison
 |  |
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|---|---|---|
| Type of Prepaid Card | Visa, MasterCard, or Gold card | MasterCard |
| Activation Fee | $0 | $0 |
| Monthly Fee | $0 - $9.95 | $0 - $5.95 |
| Transaction Fees | $0 | $0 - $1 |
| Online Bill Pay | Free | $4.95+ |
| Cash Bonus | $25 with direct deposit | None |
| Credit Builder | Free | None |
| Rating | 5-Star | 4-Star |
BankFreedom Vs. AccountNow Fees
One of the most important factors to consider when choosing a prepaid credit card is fees. So let’s start there–
- Monthly Fees: While neither card charges a fee to get the prepaid card, they do charge monthly fees. BankFreedom’s monthly fee of $5.95 is a bit lower than AccountNow’s $9.95 fee. In addition, BankFreedom will waive the monthly fee with direct deposit totaling at least $350 a month or cash loads totaling at least $700 a month. The AccountNow Gold Visa will waive the monthly fee with direct deposits totaling at least $3,000 a month.
- Transaction Fees: AccountNow does not charge for either signature or PIN transactions. BankFreedom, however, charges $1.00 for each PIN transaction.
- Online Bill Pay: Online bill pay is free with AccountNow. BankFreedom MasterCard charges $4.95 for 5 online bill pay transactions in a 30 day period, and $0.85 for each additional bill pay transaction during the same 30-day period.
- ATM Withdrawals: Both BankFreedom and AccountNow charge $2.50 to withdrawal cash from an ATM.
The fees for both cards are roughly similar, but there can be a slight edge to one card or the other depending on which services you plan to use.
Cash Bonus
The AccountNow Visa and MasterCard both offer a $25 bonus when you set up direct deposit. BankFreedom does not offer this bonus.
Credit Builder
AccountNow offers a free service that let’s you build your credit. When you sign up for AccountNow’s free online bill pay, your monthly payments are reported to PRBC, a national credit reporting agency. PRBC will compile your bill payment information and create a Bill Payment ScoreSM(BPSSM). PRBC is a credit reporting agency just like Experian, Trans Union, and Equifax, but it is the first to give consumers a choice and an equal opportunity to show that they pay their bills on time.
Also, unlike the other national credit bureaus, PRBC does not charge consumers to view their own data, and does not sell mailing lists. PRBC makes money by selling credit reports for “permissible purposes” under the Fair Credit Reporting Act, with a consumer’s authorization.
You will be able to log-in to PRBC.com, create a user name and password so you can review your personal file, add account information at any time — all at no cost.
Bank Freedom does not offer a credit builder service.
Getting the AccountNow or Bank Freedom Card
For more information and to apply for either card, visit the AccountNow official website or the Bank Freedom official website.
