Control Prepaid MasterCard $20 Referral Bonus and 5% APY Savings Account

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The Control Prepaid MasterCard offers a $20 referral bonus for both parties, plus you can earn a 5% APY on up to $1,000 in deposits with the optional savings account.

You can also earn cash back rewards when you use your Control card to pay for specially selected offers from your favorite stores, restaurants, and service providers.

There are fees associated with the Control Prepaid Card, including a $7.95 monthly fee, but this fee can be reduced to only $5 per month after you qualify for an account upgrade.

Control Prepaid Card $20 Referral Bonuses

When a current Control Prepaid MasterCard member refers a new member who loads at least $40 to their new Control card, you will each get up to a $20 credit.

Rewards are paid if a referred new member activates a new card and funds it with a total of at least $40.

Rewards are not paid if the referred new member has at any time been a Control Prepaid MasterCard customer or been a card holder on the NetSpend card network.

The number of referral rewards that a participant may receive is unlimited.

Please feel free to exchange referrals for the Control Prepaid MasterCard in the comments section below this article.

Check out the PayPal Prepaid Card for another prepaid card referral bonus as well.

Control Prepaid Card 5% APY Savings Account

The optional FDIC-insured savings account requires no minimum balance or deposit to earn a 5% APY on balances of up to $1,000.

However, the savings account is only available to card members who have qualified for the Control Card Account Upgrade.

You can qualify for the upgrade by having a direct deposit of at least $500 into your account during 1 calendar month.

If the average daily balance on your savings account is $1,000 or less, the interest rate paid on the entire balance will be 4.91% with an annual percentage yield (APY) of 5%.

If the average daily balance is more than $1,000, the interest rate paid on the portion of the average daily balance that exceeds $1,000 will be 0.49%, and the interest paid on the portion of the average daily balance that is $1,000 or less will be 4.91%.

Review the Union Plus Prepaid Card as well to earn a high APY on your savings account deposits with a prepaid card.

Control Prepaid Card Discounted Fee Plan

The regular monthly fee for the Control Prepaid MasterCard is $7.95 per month.

However, after you direct deposit at least $500 into your account during 1 calendar month, you’ll qualify for an automatic upgrade to the $5 per month Discounted Fee Plan.

Qualification for the Discounted Fee Plan will also gain you access to additional Control Prepaid Card features including:

• $10 Purchase Cushion
• 5% APY Savings Account
• Life Benefits

Additional account fees include a $2.50 domestic ATM cash withdrawal fee, but to avoid this fee, you can select ‘Debit’ and enter your PIN to get cash back when making purchases at many retailers, such as grocery stores.

There is no fee for direct deposits to your card.

Take advantage of the Control Prepaid MasterCard to earn a $20 bonus for signing up and for referring your friends, plus get a 5% APY on up to $1,000 in savings account deposits when you qualify for the Discounted Fee Plan with a qualifying direct deposit.

You may also be interested in the Mango Prepaid Card to earn a sign-up bonus and a high APY on your savings account deposits.