What is the difference between a Master Savings Stored Value Card and a traditional credit card?
The difference between the Master Savings SVC and a traditional credit card is that there is no line of credit issued with the MS SVC. The MS SVC is NOT a credit card. You control the available balance on the card by depositing funds onto the card. Therefore, unlike traditional credit cards, your maximum available balance is not limited by your credit rating. Since you are not purchasing goods and services based upon your credit, there are no costly interest charges, no lengthy credit applications, no employment verification, and you do not need to have a bank account. You are mailed a monthly statement, you can obtain your transaction history online or by calling our automated phone line listed on the back of your card.
