SAN RAMON, Calif. — AccountNow Inc., a marketer of MasterCard-branded and Federal Deposit Insurance Corp. FDIC-insured stored-value cards, announced in a press release a new consumer credit builder tool specifically designed to help underbanked consumers build their credit ratings.
The free credit builder is a new feature of the AccountNow Pay Anyone Bill Pay service. It provides consumers with a product that allows them to pay ordinary bills on time.
Consumers can use the AccountNow stored-value card to make purchases anywhere MasterCard debit cards are accepted.
Unlike credit cards, stored-value cards and debit cards do not allow consumers to build credit. To address that, Account Now developed a relationship with PRBC, an innovative national credit bureau, to report commonly recurring bill payments on behalf of AccountNow members who use the Bill Pay service.
