• RushCard holder is entitled to discounts from between 10% to 85% on prescription branded and generic drugs in 56,000 participating pharmacies nationwide. It can be a great gift for a loved one on regular medication

• There are two types of cards to choose from, whether the card holder is a heavy user which is perfect for the fixed monthly fee, or an occasional user.

• Online account management enables cardholder to pay his bills simultaneously

Three words comes to mind when describing Bancorp Bank Black Diamond Prepaid Visa RushCard: sleek and fashionable. Featuring three distinct colors—purple diamond, black diamond, and Babyphat pink—the card fortunately is not just all fluff and comes with features comparable, if not better, to the other prepaid servicers in the market. Promising no hidden charges, the RushCard offers free direct deposit, 24-hour live customer service, online management tools, and free text alerts for balance inquiries.

There has been a resurgence in the use of prepaid credit cards in recent years because with traditional credit cards, it's very tempting to swipe your purchases with money you don't have particularly in an economy that encourages consumerism. As U.S. card holders now realize, the interest and finance charges can bring them back a few hundred dollars, or even thousands depending on how big their total bill is, if they just miss one payment. With prepaid credit cards, however, you can only spend what you deposit which lessens the chance of overspending. The risk assumed by servicers in traditional credit cards is huge so they rely on on smokes and mirrors in order to displace the risks from defaulted debts back to good payers. That's the reason why these credit cards are making a killing on hidden charges and surcharges written in fine print. After all, nobody really reads the fine print, right?

Bancorp Bank Black Diamond Prepaid Visa RushCard is being billed as an alternative to traditional banking, checking accounts and credit cards. Anchored on the debit system, it gives you more control in your finances and spending without having to worry about the monthly interest charges and overdraft fees. It's available throughout the U.S., unless you are in Vermont.

But now to the more important question: how much it will cost you?

Bancorp Bank has two types of prepaid credit cards:

Monthly Plan – which comes with a fixed monthly fee which already allows the holder to unlimited free signature transactions and two free ATM withdrawals every 30 days.

Pay As You Go Plan – you pay only for each transaction so that means there's no monthly fee and you can also earn “cash back rewards” if you exceed 10 transactions each month.

Both plans have separate payment schemes. The Monthly Plan only needs $3.00 activation fee, although you need to fork $9.95 each month, compared to the Pay As You Go Plan which can cost you $19.95 to activate.

Here's a quick rundown of the differences in payments.

                                                          

The annual rate percentage does not apply on RushCard so you don't have to worry about that. Bankcorp Bank, however, requires a $10.00 opening fee. With its unique online account management, a cardholder can simultaneously send payments to all billers. That already includes the income tax.

You can also track your spending and deposit habits through a software featuring “colorful, easy-to-view graphics,” according to Bancorp's website. This feature allows you maximum control over your finances by setting up future budget goals, especially if you exceeded your target expenses for this month. Although there are no penalties and surcharges at the end of the month unlike traditional credit cards, it can be embarassing to be told by the cashier that your RushCard has no more funds. 

Some cardholders find it useful to see a printer-friendly version of their monthly activity and RushCard offers an option to download a report using Microsoft Excel or Microsoft Money.

Another incentive offered by Bancorp is its referral system. Cardholders can get $5 for each person invited to sign up. In times when the money is tight, it doesn't hurt to earn a few bucks.

As in the case of debit cards, it doesn't matter if you have a poor credit record, approval for the Bancorp Bank Black Diamond Prepaid Visa RushCard is 100% guaranteed. In fact, if you have some credit issues, Just enrol in its RushPath to Credit program for free. The idea is you religiously deposit money into your card and make regular purchases and your activity will be reported to credit reporting agencies. To shore up on your activity, use RushCard to pay your cable, telephone, water, and power bills each month and your payment history will be recorded by PRBC, a national credit reporting agency, to create a positive impression. This will serve you in good stead if you want to apply for that housing mortgage or car loan you've been eyeing but could not qualify because of your lousy credit score. Enrolment in the RushPath program is purely voluntary, of course.

You can easily refill RushCard either through direct deposit, check, money order or online by PayPal. You can load as much as $5,000 daily through direct deposit.  The RushCard boasts of having one of the most reach around the globe and one of the most secure security protection against identity theft.

Using its card-to-card transfer feature, you can send and deposit money to another RushCard  holder or to your ATM or bank account. The money transfer comes in two dials: immediately (or 15 minutes, which in banking time is already like a speeding bullet) or on schedule, which comes in handy in special ocassions such as birthdays, anniversaries, or even grocery money. Unlike money transfer agencies, sending money through RushCard will not cost you much. If you don't like long queues, you can even transfer money using your mobile or landline through a very accommodating customer representative.

Now if you are on regular medication, then you would really love what  Bancorp Bank Black Diamond Prepaid Visa RushCard can do for you. Its FREE discount card for prescription drugs will net the cardholder a discount of between 10% to as much as 85% on either branded or generic medicines. If you think it's some kind of a gimmick involving some rundown drugstore, think again. You can present RushCard to 56,000 pharmacies all over the U.S. to avail of the privilege. Even if you don't have a medical condition yourself, this unique feature makes RushCard a very valuable gift for your parents or a loved one.