If you want a rechargeable prepaid debit card that is inexpensive and can be accepted by anyone who accepts American Express, then you can choose an American Express®Serve® prepaid card. It can be reloaded in several different ways, and it has membership rights and security.
Prepaid cards will not increase the credit limit, because they will not extend the credit limit or credit limit, and will not report to any credit bureau.
FEATURES of this Card – American Express Serve
The service card is supported by American Express and is one of its prepaid debit cards. As a prepaid account, you can only spend the amount you previously deposited, not more.
However, there is a backup option. You can link another account to your card. The service charges a monthly fee of $6.95. If you make a direct deposit of $500 or more per month, or live in New York, Vermont, or Texas, the monthly fee is $0.
American Express has two other Serve prepaid cards-Serve Cash Back Card and Serve Free Reloads card. Both cards are very similar to service cards.
The American Express service free recharge card provides free cash recharge at more than 45,000 locations. The service cash back card can provide 1% cash back for any purchase, which is not common in prepaid cards.
Benefits
Most prepaid cards have a charging function. Sometimes they have no function at all. However, Serve card provides many functions for free. An example is that it has a “reserve” option, just like a savings account, which allows the accumulation of current transfers to achieve future goals.
Cardholders do not need to charge for transfers of children or other payees or adding funds to the “sub-account”. In addition, it is free to pay bills or replace cards online.
You can check your balance online for free through MoneyPass ATMs or through apps, but if it is an out-of-network ATM, you may need to pay some fees at the ATM. Users can contact customer service by phone 24 hours a day.
Eligibility and How To APPLY
Applicants for the Serve prepaid card must be at least 18 years old, and have no default payments and good credit history. If the person applying for the card is self-employed, the company should have at least 12 months of trading time.
Even if it is not a credit card, a good CIBIL (also known as CIR-Credit Information Report) score is required. You can apply for an American Express service card by visiting its website.
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FEES and Interest
Compared with other prepaid debit cards, the service card fees are very low. Maintenance costs are very low, with only a monthly maintenance tax of $12 per year.
For those who live in Texas, Vermont, or New York, monthly maintenance services are free. If you order the card online, you do not need to purchase any fees, and there is no activity fee.
The monthly maintenance tax fee is only $1, if your monthly direct deposit exceeds $500, you can reduce it. If you choose to buy the card from a retail store, the price is as high as $3.95.
Other prepaid cards have higher transaction fees than service cards. If you want to spend money without paying anything, you must pay by PIN or signature, or you can withdraw money from MoneyPass ATMs (they have more than 24,000 ATMs on the network).
If you reload the card using electronic functions, you can avoid the cost. If you want to top up the card at other retailers (such as CVS, Rite Aid, Dollar General, 7-11 or Wal-Mart), you must pay. Service users can reload their cards for free via mobile check deposit, direct deposit and online bank transfer.
Summary
The service card is a very good prepaid recharge card because it is a very cheap prepaid card. From the American Express card, it adds a lot of access rights and benefits.
Cardholders will benefit from many other features and special offers for themselves and their sub-accounts.
