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Control Prepaid Mastercard review

Written by Jan. 13, 2021 Edited by Editor, Product Claire Dickey is a product editor for Bankrate, CreditCards.com and To Her Credit. Before joining Bankrate, Claire worked as a copywriter for brands within the telecommunications Reviewed by Former Senior Director of Content Antonio Ruiz-Camacho is senior director of content for CreditCards.com and Bankrate Credit Cards. He has more than 20 years of international experience leading content teams, Jan. 13, 2021

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PREV NEXT by logging into your Online Account Center and clicking on the offers that appeal to you. When you checkout using your Control Prepaid Mastercard, you'll get cash back. This functions similar to a card-linked offer on a credit card (like ), which means your actual earning rate can vary.

Redeeming cash back

Any cash back you earn will go directly into your account to be used as a credit. You can't get the rewards in the form of a check or direct payment.

Benefits

The Control Mastercard is a prepaid debit card that gives you some of the same benefits as a credit card.

Mobile app

There's a well-rated mobile app you can use for banking and budgeting on the go. It offers an overview of all your transactions, money transfers, mobile check deposit, and a reload location map for easy navigation to your nearest reload spot.

A high-yield savings account

You can attach a second account, a Netspend Savings Account, that can offer up to 5 percent APY for balances under $1,000. For any amount over $1,000, you'll get up to 0.5 percent APY. This rate is higher than many other online savings accounts on the market today.

Rates and fees

With the Control Mastercard, there's no way to get out of paying a monthly fee altogether, but you can lower the cost. You'll pay $5 each month if you have into the account. Otherwise, it's $7.95 monthly. Putting cash in or taking out cash can also cost you. Some reload centers charge up to $3.95 to add cash to your card. Others charge nothing. If you need to withdraw money at a Netspend Reload Network location, you'll pay up to a $4 fee, as well as a $2.50 charge at a domestic ATM (plus those charged by the ATM) or at a financial institution. There's also a $0.50 fee to check your balance at an ATM. However, you can check your balance for free online or through Anytime Alerts. If you want to use your card overseas, you'll pay a 3.5 percent foreign transaction fee. This charge is higher than much of the competition, so it probably shouldn't be your first choice for trips abroad.

How the Control Prepaid Mastercard compares to other cards

Control&trade Prepaid Mastercard®

Annual fee Intro offer Intro offer is not available to this Netspend credit card Rewards rate Recommended credit A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Capital One Quicksilver Secured Cash Rewards Credit Card

on Capital One's secure site Annual fee Intro offer Intro offer is not available to this Capital One credit card Rewards rate Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply Earn unlimited 1.5% cash back on every purchase, everywhere Recommended credit A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Discover it® Secured Credit Card

on Discover's secure site Annual fee Intro offer Intro Offer: Unlimited Cashback Match - only from Discover. Discover will automatically match all the cash back you've earned at the end of your first year! There's no minimum spending or maximum rewards. Just a dollar-for-dollar match. Rewards rate Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. Earn unlimited 1% cash back on all other purchases – automatically. Recommended credit A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product. However, if you want better cash back rates with fewer fees, a credit card could be a better option-especially since it gives you the chance to build a . You should be able to apply for both the and with no prior credit history in exchange for a small security deposit. The Quicksilver Secured rewards all purchases with unlimited 1.5 percent cash back while the Discover it Secured nets 2 percent cash back at gas stations and restaurants (on up to $1,000 per quarter, then 1 percent) while everything else earns 1 percent back. What's more, neither of these cards charge monthly or annual fees just to have them.

Best cards to pair the Control Prepaid Mastercard with

If you want to get the most out of the Control Prepaid card, consider pairing it with a . Many travel credit cards can give you rewards to use toward travel-related purchases, as well as a 0 percent foreign transaction fee. That way, you'll have a card you can bring with you overseas and not have to pay extra to use.

Bankrate s Take-Is the Control Prepaid Mastercard worth it

The Control Mastercard could be worth it if you're willing to send a direct deposit of at least $500 per month. That way, you'll get the lower monthly fee of $5.00, as well as the $10 overdraft protection. Also, if you have $1,000 to put toward savings, it will be hard for you to find a better APY than up to 5 percent. If you're looking for major cash back rewards, though, you'll probably want to look elsewhere. You may even want to look into a . The purchases you can earn rewards on with Control Prepaid depend completely on what is offered in its online account. Plus, you won't get a welcome offer by opening a Control Prepaid account.

Pros and cons

Pros

Low potential monthly fee for a prepaid card Extremely high APY on your first $1,000 with the attached savings account You won’t pay an APR, like with a credit card

Cons

Fewer cash-back options than other prepaid debit cards No welcome offer You can’t keep a rotating balance, like with a credit card

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Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. * See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer. Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.