Eufora Associate Prepaid Mastercard®

Overall Rating	Benefit Rating

No Credit Check Cash Reward Program New Car Sweepstakes Zero Liability

The Eufora™ Associate Prepaid Mastercard®, issued by BANKFIRST, is a stored value card designed for those who have fair, poor, bad, or no credit history and would like to earn income for referrals.

Very rarely do prepaid cards offer benefits, yet the Eufora Associate Prepaid Mastercard offers a unique income opportunity for cardholders. Each time a cardholder refers a new applicant to any Eufora Mastercard card level, that cardholder will earn $20 per year if the referred applicant is approved and maintains their membership in good standing.

A major drawback is that the cardholder only earns “commissions” for referrals at the Associate level, even if the referral is for a higher level Eufora Preferred or Eufora Elite card. These two higher earning levels have higher annual fees, but offer more benefits and opportunity for increased income, as the referral fees are considerably greater (see our reviews on the Eufora Preferred Mastercard and Eufora Elite Mastercard).

In addition to the referral program, for every $100 spent cardholders automatically receive one entry into a monthly drawing for one of thirty featured cars.

The annual fee for the Eufora Associate Prepaid Mastercard is $29.95 per year and there are no participation or application fees, which are usually associated with stored value cards.

In order to use the card, cardholders need to first make a deposit in advance for a set amount (ranging between $5 to $5,000 per deposit), which determines the amount that can be spent on the card. For instance, if an individual were to deposit $100, they could only use up to $100 of credit for future purchases (there is a maximum of $5,000 that can be held in the account at any one time). Funds may be loaded onto the card through an existing checking or savings account ($300 maximum), money orders, bank wire transfers, payroll direct deposits, or retail locations. Eufora may also load the card directly from earned referrals (subject to their terms and conditions).

So in the first year, a Eufora Associate Prepaid Mastercard cardholder can expect to pay a total of $29.95 in fees, which is very reasonable for this type of card (this does not include any reload or penalty fees). An additional card can be provided for the account for a fee of $9.95.

Therefore, those who are looking for a stored value card with which they can pay in advance for purchases and would like an opportunity to earn extra income will benefit most from what the Eufora Associate Prepaid Mastercard has to offer.

However, applicants may want to consider applying for either the Eufora Preferred Mastercard or Eufora Elite Mastercard, as the potential revenue far outweighs the difference in the annual fee.
Review Date: 11/20/2007

Eufora Associate Prepaid Mastercard
Most Attractive Feature(s): Unlimited income opportunity for referrals; monthly new car sweepstakes entry for every $100 spent; no monthly participation or application fees; guaranteed approval.
Least Attractive Feature(s): Limited earnings for high level referrals.

Additional Perks
For every $100 spent on the card, the cardholder receives an entry into a monthly drawing for a free car of their choice from a selection of 30 cars.
Access to cash reward program to earn money for referring new cardholders.
No liability for unauthorized transactions.
Lost and stolen card reporting.
Purchase protection.
Identity theft insurance.
See website for additional benefits.

Important Notations
**Maximum deposit when using a checking or savings account through the Internet is $300; when using any other method the maximum is $5,000.
Associate level cardmembers will earn $20 per year for each approved referral in good standing.
See website for complete terms and conditions of card usage and application disclosure

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You may also be interested in these cards:
Eufora Elite Credit Builder Prepaid Mastercard®
Eufora Preferred Credit Builder Prepaid Mastercard®