Online Credit Card Account Management

March 30, 2020

By Martin Norris

Online account management for credit cards and debit cards allows you to perform various functions with ease from either your home, work, or office. There are various options available with the sophistication of online account management.

For prepaid gift cards in the Mastercard and Visa networks, the interface allows you to understand how your card works and where it may be used. The typical rule of thumb is that any Mastercard or Visa, whether it be a Visa or Mastercard credit card or debit card may be used wherever their logo is accepted. This means that you can use the card for groceries, gas, or even shopping online. The only thing that is not possible is buying money orders with the card if it is a credit card or prepaid/reloadable card. The reason why it isn’t permitted with credit cards is because it then falls under the category of a cash advance, which typically will have either a 3% fee or higher. For the latter type of card, it is viewed as a way to circumvent the cash advance fee depending on how the card was obtained in the first place.

The next items are the greatest features of online card management. There are various functions that can be performed once you set up your account. The instructions on how to initially do so are on the back of your card if they are not present on the issuer’s website or in the documentation that you received upon opening your card account. If you can’t find this, the easiest way to get where you need to go is to call the number on the back of your card. Here are the key features to card management:

Identifying and Determining Your Balance
As it relates to debit or prepaid cards, this function allows you to see how much money you have available to make a purchase. For credit cards, it tells you exactly what your credit limit is as well as how much available credit is available on the account. While it is outlined, the spending power is defined as the difference between the total credit limit and purchases that have been made.

Paying Balances and Reloading Money
In the event that you have identified and determined your balance and want to make a purchase that you don’t have enough space to make, you may pay your balance or reload money online. For cards that are either secured, prepaid, or debit, there is an uploading option on most platforms. You may link your bank account up to your Visa or Mastercard upload funds to the offer. Note that in this case, it’s unlikely that the spending power will be updated in real time. It typically takes a few days if you have elected to upload funds via a bank account because it’s an ACH transaction that you’ve set-up. These are usually only run once per day.

For credit cards, either Visa or Mastercard, the online account management feature from the issuer allows you to pay off balances to open up more available credit. Few of these have the ability to immediately open up the line and performing this action on a weekend will typically cause the process to be delayed until Monday or Tuesday. In some cases, a few banks, such as Citi, will credit the transaction immediately without a hold, depending on the size of the transaction.

Closing Your Account
You may also close your account using the online management tool. Note that for prepaid, debit, and secured offers, it’s advisable to wait until the card is at zero. Otherwise, the bank or outfit will cut you a check upon account closure in most cases and this can take a few weeks to receive. There are a few that have the capability to send you the money via electronic transfer which doesn’t take as long. Credit card closures may be done after you have performed a balance transfer and have closed your account out to zero or after paying the outstanding balance off in full. Some banks will also allow you to close your account if you haven’t paid off the balance which does nothing except prevent you from making purchases as interest will still accrue.

Here are the functionalities of a few of the major online account management platforms for people carrying offers for bad credit or who have been gifted cards for an occasion:

Mybalancenow.com
This services the Target suite of products. Which include both the Target Mastercard and Visa Gift Cards as well as the Target Prepaid Card. The login procedure for accessing www.mybalancenow.com requires the card number as well as the expiration date and CVV code. Upon logging into your account for the first time you will be able to perform various functions, including selecting and managing pin numbers which will be necessary for making debit card purchases at retailers. The mybalancenow.com site also has several different answers to frequently asked questions and pertinent contact information/support for their products. It also explains in detail where these offers may be used.

Myindigocard.com
This is a more robust platform that that of mybalancenow.com. It is for the Indigo Mastercard which is a credit card that caters to the subprime market. The account management here allows you to manage your card by making payments, selecting to go paperless, the ability to freeze your account for fraud protection and much more. Within the myindigocard.com interface, meaning after you login, there are several options as far as viewing the terms of your credit card terms and conditions (cardholder agreement) as well as the regular day to day operations you would want to access – travel notices, payment history, etc. Again with the www.myindigocard.com website, there is a FAQ section which allows you to find an answer to something without having to login or in many cases call customer service.

Myvanilladebitcard.com
Servicing the Vanilla debit card cards, www.myvanilladebitcard.com allows you to perform a few functions such as viewing available funds, gives you information as to where you can get a new Vanilla card and reloading locations. It also gives instructions on how to attach your card to Apple Pay and how to set-up direct deposit. Myvanilladeitcard.com also provides a detailed list of how to use your card at an ATM, how to set-up the mobile wallet, information about the Vanilla card mobile app, and a list of all convenient/nationwide locations where you can obtain a card for yourself or as a gift.


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