Review of the Executive Plus Prepaid Mastercard

Summary - The Executive Plus Prepaid Mastercard is a debit card with one of the best cash rebate program and travel membership features. It is issued by BankFirst and is perhaps the only prepaid credit card with both a cash rebate program and travel rewards. Find out more....

Cost and Fees - The initial setup fee is a standard $159.95. This consist of a one-time application fee of $59.95, a one-time processing fee of $90.00 and a $10.00 initial deposit. Thereafter, there is a monthly maintanence fee (common in all debit cards) of $4.95. This works out to $59.40 a year.

AmeriDollar Cash Rebate Program - After you get your new card, you can enroll for free in the Optional Ameri Dollars cash rebate program. Under this program you can earn cash rebates if you purchase items at selected merchants. The rebates you get depend on the merchant. However, you can get a rebate anywhere from 1.5% to 10%. For some items like subscription to NYtimes.com, you can get a $12.50 cash rebate. You can choose to receive the rebate yourself or donate to a participating charity.

FREE Registration at Travel Benefit Groups -Cardholders also get a free registration with the Travel Benefit Group, which is a membership that gets you travel discounts. Members can get the following :

FREE 3-Day, 2-night accommodations in your choice of over 20 cities

• Over $1000 in travel vouchers
• Free Online Boarding Pass

And many other travel goodies.

Verdict - The Executive Plus Prepaid Mastercard is the only prepaid debit card that we know of that has both a cash rebate program and one that offers cardholders membership to a "discount travel club". Like most prepaid credit cards, you cannot build or rebuild your credit with this card. For that, you should check out our piece on Prepaid Credit Cards with Credit Builder.

However, if you are looking for a basic prepaid credit card that allows you to earn cash rebates and one that enrolls you in a travel discount club, then this could be the right card for you.

Update - The Executive Plus Prepaid Mastercard has been discontinued. As an alternative, we recommend the Western Union Prepaid Mastercard. You can read our review of the Western Union Prepaid Mastercard here.

Positives

• Ability to earn cash rebates
• Enrollment in Travel Benefit Group
• Relatively low monthly maintanence fee


Negatives

• Initial and transaction fees (that are common for prepaid credit cards)





Executive Plus Prepaid Mastercard
Cost/Fees
Annual Fee	$No annual fee
Monthly Maintanence Fee	$5.95
Application Fee	$59.95
Processing Fee	$90.00
Bank Account to Card Reload Fee	$1.50
Direct Deposit Reload Fee	$1.50
Purchase at Merchant Fee	$0.75
ATM Withdrawal Fee	$1.50
Point of Sale Withdrawal Fee	$0.75
ATM Balance Inquiry	$1.50
Customer Live Call Fee	$2.95
Paper Statement Fee	$5.00
Card replacement Fee	$25.00
Maximum Load	Not more than twice a day or ten times a week not more than $1,500 a day or $5,000 a week
Maximum ATM Withdrawal	$300 within 24 hours