Single Card and Family of Cards Monthly Maintenance Fee (“MMF”) Plans determine how your MMF is applied and possibly waived. Every card account has the same functionality, you can have up to three card accounts whether you select Family of Cards or Single Card, and the plan you choose applies to all your card accounts. However, there are some distinct differences in the MMF.
With the Single Card Plan, each card account is assessed a $9.95 MMF, but the MMF on each card account may be waived if that card account has received $1,000.00 in Direct Deposit(s) in the last 30-day period, which begins with the first load. For example, if you have a Betty Boop card, you will be charged a $9.95 MMF per 30-day period. However, if you receive over $1,000.00 in Direct Deposits to your Betty Boop card in the past 30-day period, you will not pay a fee for your Betty Boop card in the next billing cycle. MMF waivers for Direct Deposit are assessed per each card account.
With the Family of Cards Plan, you pay only one MMF; any MMF that would be assessed on your 2nd or 3rd card accounts is not applied in that billing cycle. By selecting the Family of Cards plan the most you could pay in any 30-day period in MMFs is $9.95.
Remember, if you select Family of Cards, none of the accounts are eligible for the MMF waiver in the Single Card plan. If there is not a sufficient balance on that card to pay for the MMF, we will charge the remaining MMF amount to the second and third card accounts in the order in which you first loaded them.