The SmartyPig Cash Rewards Prepaid MasterCard Review

The SmartyPig Cash Rewards MasterCard is a prepaid debit card that can be to make purchases anywhere MasterCard debit is accepted. The card can be used to make online, phone or mail order purchases and it can also be used at ATMs worldwide just like any prepaid card. The SmartyPig prepaid card is a unique prepaid card because it is linked to your SmartyPig Account. You have to have a SmartyPig account in order to be have the prepaid MasterCard. A SmartyPig Account is an online savings account that allows you to set savings goals for yourself and once you meet your goal you can cash out your account by having the funds placed on the SmartyPig Prepaid MasterCard. Here are some of the benefits of the card:

  • Earn Cash Back
  • No Credit Check
  • Used Anywhere MasterCard Debit Is Accepted
  • Low Card Fees

Loading Funds
You load funds to your card directly from your SmartPig Account. You have two options for funding your SmartyPig Cash Rewards Card. You can transfer all or part of a SmartyPig goal to your SmartyPig Cash Rewards Card or you can request funds be transferred from an existing SmartyPig funding source which would be a bank account. You may transfer money from your SmartyPig goal to your SmartyPig Cash Rewards Card one time per calendar month. This prepaid card works differently than traditional cards because it works in conjunctions with your SmartyPig and you have to have an account in order to transfer funds to the prepaid card.

Cash Back Offer
The card does offer a cash back rewards program. You can earn up to 10% cash back and you don’t need to activate or register for the cash back offer. All you do is use your Cash Rewards Card and if your purchase qualifies, your cash back savings will show up right on your Card within 90 days. To get the cash back you have to make signature transactions and not PIN transactions. There are over 9,000 participating retails and you can view the participating retailers from your online account.

How To Apply
Applying for the card is easy, but you must be a registered SmartyPig account holder to in order to be eligible. You may request a SmartyPig Cash Rewards Card when you set up your account initially or you may request a card when you are ready to cash in your savings. There is a $4.95 fee for the initial card. You have to be either a U.S. citizen, a U.S. permanent resident alien with a green card and social security number or resident with a social security number. There is no credit check required for this card and your credit history is not a factor, even if you have bad credit.

SmartyPig Cash Reward Card Fees
The table below highlight the card fees associated with using the card. To see a complete list you should refer to the card terms and conditions. You can apply for a SmartyPig Online Savings Account online.

DescriptionFee
Monthly Maintenance FeeFree
Load FundsFree
POS and PIN TransactionsFree
Customer ServiceFree
Email Alerts Free
Initial Card Fee$4.95
Domestic ATM Fee$1.95* per withdrawal
International ATM Fee$4.95* per withdrawal
Domestic Balance Inquiry Fee$0.50* per inquiry
International Balance Inquiry Fee$0.95* per inquiry
Exchange Rate Adjustment2% of the amount of each foreign transaction
Lost/Stolen Replacement Fee$9.95 per instance
Check Issuance Fee$15.00 per instance

About Michal Cheney

Michal Cheney is a personal finance blogger who writes for several top personal finance blogs, such as Dough Roller and Go Banking Rates. She enjoys writing about money management, getting out of debt and planning for retirement. Her practical approach encourages folks to get serious about their relationship with their money.