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Bankrate Staff
Written by
Claire Dickey
Edited by
Antonio Ruiz-Camacho
Reviewed by
/ 4 min
The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict,this post may contain references to products from our partners. Here's an explanation for andhow we rate our cards.The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Terms apply to the offers listed on this page. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.
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Bankrate follows a stricteditorial policy, so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers.
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Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range, can also impact how and where products appear on this site. While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service.
Snapshot
Control™ Prepaid Mastercard®
*The information about the Control™ Prepaid Mastercard® has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.
*
See Terms
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.
Recommended Credit
N/A
Intro offer
Intro offer is not available for this Netspend credit card.
N/A
Rewards rate
Rewards rate is not available for this credit card.
Variable Monthly Fee
Annual fee
N/A
Regular APR
On This Page
On This Page
- Current offer details
- How the Control Prepaid Mastercard compares to other cards
- Is this card worth getting?
- Pros and cons
Control Prepaid Mastercard overview
The Control Prepaid Card isn’t a credit card, so you don’t have to worry about racking up interest with an APR. Instead, it’s a prepaid debit card, so you can only spend the amount you have in your Mastercard in Control account.
Still, it offers cash back rewards and a sky-high APY with its attached savings account.
A deeper look into the current card offer
Quick highlights
- Rewards rate: Varies
- Welcome offer: N/A
- Monthly fee: $5 to $7.95
- Purchase intro APR: N/A
- Balance transfer intro APR: N/A
- Regular APR: N/A
Current sign-up bonus
The Control prepaid card doesn’t have a sign-up bonus or welcome offer attached to it at this time. If you’re looking for a card to give you an initial reward for choosing its service, you’ll need to look elsewhere.
Rewards
With the Control Mastercard, you can earn cash back rewards through your spending, but terms can vary.
Earning cash back
According to the Control website, you can earn rewards 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 Amex Offers), 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 $500 or more in direct deposit every month 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™ Prepaid Mastercard®
Bankrate Score 0.0
Annual fee
Variable Monthly Fee
Intro offer
N/A
Rewards rate
N/A
Recommended Credit Score
See Terms
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.
Annual fee
$0
Intro offer
N/A
Rewards rate
1.5% - 5%
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 Score
No Credit History
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.
Annual fee
$0
Intro offer
Cashback Match™
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
1% - 2%
Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically. Earn unlimited 1% cash back on all other purchases.
Recommended Credit Score
No Credit History
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 alimited credit score. The Capital One Quicksilver Secured Cash Rewards Credit CardandDiscover it® Secured Credit Card can be great options for those with no prior credit history. The Quicksilver Secured rewards all purchases with unlimited 1.5 percent cash back while the Discover it® Secured Credit Card nets 2 percent cash back at gas stations and restaurants (on up to $1,000 in combined purchases 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(See Capital One Quicksilver Secured Cash Rewards See Rates & Fees)
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 travel credit card. 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 credit card. 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
Compare the best cash back credit cards
* 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.
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