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Should You Get the Skylight One Paycard?

Prepaid Card

Prepaid cards offer several benefits to the user. That would explain why 12 million Americans use them at least each month. To understand the benefits of prepaid cards, we will focus on a prepaid card called Skylight One Paycard. Skylight One Paycard is a prepaid card issued by Axos Bank. The bank is able to issue the card due to them receiving a license from Visa USA Inc. or MasterCard International Incorporated. Since the two companies have been in the market for so long, you should not hesitate to get the card. With many prepaid cards in the market, you may be wondering what makes this prepaid card special. To help you decide, we will identify some of its benefits below. After reading the benefits, you will understand why you should get the Skylight One Paycard card.

1. No Prepaid Score

Most investors get blocked from loan facilities due to poor prepaid scores. A prepaid score is a mathematical figure assigned to a user which predicts the period they are likely to repay their loan. For instance, the acceptable prepaid score is between 630 and 850. Any score below 630 is poor, and that will limit your chances of getting a loan. Some companies offer prepaid cards which calculate your prepaid score. The company will monitor your prepaid card usage. If you regularly transact with it or make payments on time, you will improve your prepaid score. However, what if you do not need to use your prepaid card? It is, after all, pointless to use it for the sake of building your prepaid score. Fortunately, with the Skylight One Paycard, your prepaid score will not be calculated. That allows you to use it only when you need it. You could even choose to be inactive for several months. Users with bad prepaid scores get denied access to some prepaid cards. Does the policy apply to this prepaid card? Luckily, no. Axos Bank will not deny you the card because of your bad prepaid score. So if you have been endlessly searching for a prepaid card with no success, you now know the prepaid card to get.

2. Online Safety

Do you remember when you first wanted to purchase an item online with your prepaid card? After going ahead with the transaction, you felt uneasy submitting your details like your name or card number. What if criminals used the details to rob you? Thankfully, these details are not enough for robbers to steal from you. However, if the details were linked to a bank account or Social Security Number (SSN), then you would be right to be concerned. Luckily, the Skylight One Paycard card does not need your bank account number or SSN for online transactions. Additionally, your data is automatically encrypted when you use the card online. Encryption happens when your prepaid card information is jumbled. When the information is mixed up, it becomes difficult for hackers to decode your information. Encryption keeps your data safe until the end of the transaction. Besides encryption, the card company asks you for a PIN to access your account. The company makes the PIN as unique as they can. As much as you can, memorize it soon enough. Some people memorize the PIN by writing it on a piece of paper. This is a risky move since some people may take the paper without your knowledge and use it to control your account. Is your money safe at all times? This prepaid company functions precisely like a bank. Like banks, the prepaid company can become bankrupt and be forced to close down. Should that happen, would your money be safe? Thankfully, yes. The prepaid card company has a Federal Deposit Insurance Corporation (FDIC) cover. So if the company went down, FDIC would refund your money based on the card company's coverage limit. Lastly, the card has zero liability. A cardholder's most significant concern is when a person steals the card and conducts illegal activities with it. Depending on the prepaid card company, they would hold you accountable for the crimes committed with your card. Fortunately, you do not need to worry about facing repercussions from someone using your card.

3. Online Account

Many people still visit their bank or ATMs to view their balance. However, some people live in areas far away from such facilities. For you to visit such facilities, you will incur transport costs. Others may not get the time to visit the facilities. To avoid inconveniencing the customer, the card company allows its users to check their balance through their online accounts. For the client to check their account balance, they log in using the company's website. Besides checking your balance, you can also track your transactions. The beauty of their website is that you can check the exact time a transaction took place. Such information helps you notice any strange times a transaction took place. If you notice an unusual transaction, you will then be able to seek help from the company on what to do.

4. Diverse Channels to Transact From

MasterCard prepaid cards do not work on Visa networks and vice versa. Such a situation is incredibly frustrating if a user owns one of the cards. Is it possible to own a prepaid card that works in Visa and MasterCard? Yes, and the solution is to obtain this prepaid card. As earlier noted, the prepaid results from a partnership between Visa and MasterCard. With two networks to transact from, you cannot be stranded on the choice of platform to use. Also, a network like Visa may temporarily experience downtimes. Therefore, when you visit the ATM, you would instead switch to the MasterCard site to transact.

5. An Efficient Way of Saving Paper

Even with the rise and ease of prepaid cards, people still prefer checks. For instance, in 2018, 14.5 billion checks were signed, according to a study done by the Federal Reserve. Companies still prefer to pay their employees with checks, yet they could pay them in their prepaid card account. With the Skylight One Paycard card, the company can pay users who own the card. Think of the time the company will save if they abandon writing checks altogether. In that duration, they write checks; they could have used the time more productively to do other valuable tasks. Based on the number of checks signed in 2018, you would need to cut down a significant number of trees. It is especially dangerous if the trees are not replaced. Some of the drawbacks of cutting trees include desertification, flooding, making a region look grotesque, and so on. Besides the environmental concern of using checks, they are also generally unsafe. For instance, when you bank your check, you entrust it to a stranger. Or so you may think. The banker may give another banker your check to bank. You will have exposed your check to many people in such a case. Of the many people, it may be unfortunate if an unscrupulous person spots your check. With the Skylight One Paycard card, the interaction is between the user and your account. This is useful since you will not expose your card details to anybody else. Do you have a check you need to bank but is lost? If so, you would need to report the incident within two days. Failure to report the case in time means that the thief would use it for criminal activities. As a result, your bank would hold you accountable and force you to pay a certain fine. However, as earlier pointed out, you would not be held liable for any crime committed with your prepaid card. Another thing the thief may do is steal your identity. The thief may use your information to access medical services and apply for prepaid by assuming your identity. In case their fraudulent actions are discovered, it could ruin your reputation. Repairing your tainted image can take a long time. You do not need to worry about theft with the prepaid card since you can log into your account to access your card. To overcome all these problems that checks may cause, consider the Skylight One Paycard route.

6. You Can Enjoy Various Program Features for Free

Have you ever wondered why some people avoid owning prepaid cards? It has to do with the additional costs that come with them. For example, some companies charge you costs on maintenance, checking your balance, receiving alerts via text or email, signature-based purchases at retailers, and so on. If you were to sum up the costs, you would quickly discover that you are spending more on your prepaid card than purchasing items. If you are looking to avoid paying for such additional costs, it is prudent to choose this prepaid card. The only charge you will incur is from your transactions when purchasing items online.

7. Ways to Earn Rewards

People prefer banks because of the additional benefits such as interest in their savings. However, did you know that you can earn interest with this prepaid card? To enjoy making an interest, you will need to open a savings account with the prepaid card company. Once your savings account has been opened, you can transfer the amount in your account to the savings one. As a result, you can expect to earn a 5% Annual Percentage Yield (APY) on your savings. It may be tedious for some users to prompt the card to transfer a certain amount to the savings account. To avoid this move, you can set up an AutoSave feature. You can program the feature to add a certain amount to your savings account each time you load your card with funds. Besides earning interest, you can get paid for referring people to use the prepaid card. To get paid, the person you referred must join the prepaid card company and fund their card. Based on the amount they have loaded their card with, you will get paid accordingly. The more funds the referred person deposits, the more you get paid. To enjoy maximum pay, be sure to recruit as many people as possible. An excellent place to start is with your friends or family members. Lastly, you can earn payback rewards based on the frequency you shop. For each commodity you purchase, you get the rewards. As soon as you get the rewards, it would be best to use them soon enough. When you use your rewards, you will be exposed to more offers. The other option is for you to pile up the rewards. The prepaid company redeems the rewards to cash and credits your account by the end of the month. If you are a habitual shopper, you would be unfair to yourself if you did not use their reward feature.

8. Availability Throughout the United States of America (USA)

Being a federal country, it is pretty common to lack certain credit services in some states. It may have to do with the states having their by-laws. As a result, you would be forced to migrate to another state or use another service provider. Luckily, with the launch of the prepaid card in the 50 states, you can enjoy its services throughout the country. Since the service operates in the entire country, you will spot an ATM without any difficulty. People estimate the number of ATMs in the country to be about 480000. You are therefore left with plenty of places to transact from.


Have any of the benefits convinced you to get the Skylight One Paycard card? If your answer is yes, you will be enjoying its benefits and saving the environment by reducing paper usage. But what then happens if you run into any problem with your card? Fortunately, the company is always available to respond to your concerns. The prepaid card company, after all, needs customer feedback to improve. However, a prepaid company does not need to rely on complaints to improve. Perhaps, you could be a person with ideas to improve their service. For instance, you can do so by partnering with them. By allowing partnerships, you can be sure of enjoying future benefits of the card.

Allen Lee

Written by Allen Lee

Allen Lee is a Toronto-based freelance writer who studied business in school but has since turned to other pursuits. He spends more time than is perhaps wise with his eyes fixed on a screen either reading history books, keeping up with international news, or playing the latest releases on the Steam platform, which serve as the subject matter for much of his writing output. Currently, Lee is practicing the smidgen of Chinese that he picked up while visiting the Chinese mainland in hopes of someday being able to read certain historical texts in their original language.

Read more posts by Allen Lee

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