MySpace Recharge: Prepaid Visa card from MySpace

First Woolworths, then David Jones and now MySpace – it seems that familiar brands aren’t complete without their own line of personal finance products. However, before dismissing the MySpace Recharge Visa card as just another gimmick, closer attention will reveal something truly useful.

A huge proportion of MySpace’s user base is under 18 years of age and therefore ineligible for credit card application, but with modern society’s appetite for consumption (and tendency towards serious plastic abuse), the cool kids are about to join the party - Money Buddy rocks out (and maxes out) the MySpace Recharge card.

MySpace Recharge Visa: A novel idea

Just as financial giants have teamed up with major high street brands in recent history, this new partnership pulls ANZ together with one of the most popular social networking websites. Being web savvy and generally musically minded, MySpace’s loyal fan base is naturally going to want to purchase mp3’s and CD’s online – not an easy thing to do if your only credit source is cash. The MySpace Recharge prepaid Visa card solves the problem by allowing card holders to “reload" or “recharge" an online and worldwide accepted Visa card easily and conveniently. No need to borrow mum, dad or sibling’s credit card (with or without permission), or to fret about credit history problems, instead the MySpace prepaid Visa offers independence and is quick to apply for. You don’t even need a bank account.

How MySpace Recharge works

The card is recharged (just like a prepaid mobile SIM) either by BPAY or at participating stores, with a maximum single cash load of $250 (minimum $50). It’s not clear what time span a cash load is, so perhaps wily users can pop back an hour later. The $1,000 maximum credit balance is clearly in place to deter (or minimise) cash theft and fraud.

Being issued by ANZ bank, the card’s participating recharge stores will be available on ANZ’s website, although at time of writing the list was unavailable (something to amend for certain, since cash charging will probably win out easily over BPAY as preferred recharge method). Still, once your card is activated, you can use it at millions of Visa locations including ATMs, online and basically anywhere that the ubiquitous Visa symbol is displayed.

Applying for the MySpace Recharge Visa card

You only need be a member of MySpace (the service is free) in order to apply for the MySpace recharge card. Potential takers will love that there’s no credit check and a one-off card issue fee of just $5.95 – pretty impressive. Sadly a $2.95 monthly fee applies, but that’s probably a small price for financial freedom.

One last note on safety: Fear not mums and dads, card usage is blocked on gambling websites (and other adults-only sites) – peace of mind no doubt. For those with cash to burn and a need to buy online the MySpace Recharge card opens a world of opportunity.