The Mio Prepaid Credit Card has multiple advantages. If you are looking to control your budget or protect your identity then the Mio Prepaid Credit Card may be the card for you. Compare this and other online credit card offers now!
Mio prepaid credit cards are offered from InComm, a provider of prepaid credit cards and gift cards since 1992. They are headquartered in Atlanta but have additional offices in the United States as well as internationally.
Solutions Provided by the Mio Prepaid Credit Card
If you don’t have a bank account and your employer offers direct deposit, then you can have your payroll funded directly to your Mio prepaid credit card. This eliminates the need to pay check cashing fees and also reduces the risk of your cash getting stolen.
You can also use a prepaid credit card to help you manage your finances. By creating a budget and funding your prepaid credit card as your expense account, you can gain tighter control on your cash flow.
The Mio prepaid credit card is not attached to any of your personal or business bank accounts, so if you are concerned about identity theft this could be one solution. Using a prepaid credit card reduces the risk of someone stealing your identity and tapping into your bank accounts.
Getting a Mio Prepaid Credit Card with a Low Credit Score
Prepaid credit cards are not the same as credit cards. They usually don’t even affect your credit score like traditional credit cards do.
However, if you have poor credit you can get a prepaid credit card for convenience sake. Since a prepaid credit card is self-funded, you are in essence spending your own money.
Once you get the card all you have to do is fund it and then start shopping with it like you would any other credit card. Since it is not a bad credit credit card there are no interest fees to pay as you are not borrowing money.
Fees Related to the Mio Prepaid Credit Card
As with most prepaid credit cards, there are various fees so that the provider can make money. Instead of paying interest, you will pay transaction fees for point of sale purchases and ATM withdrawals.
Mio prepaid credit cards come with several value plans to help reduce multiple charges. For instance, for $2 per month you can eliminate the ATM fees and for $12 a month you can use your card for an unlimited amount of point of sale transactions without any fees.
The Mio prepaid credit card may be a little costly on a monthly basis, but it provides multiple solutions that provide benefits as well. Compare this with other credit card offers today!