Pre-Paid Credit Cards

United States
September 15, 2012 4:14pm CST
Has any mylotters had any experience with pre-paid credit cards sometimes known as reloadable credit cards? Most of the major credit card companies now offer pre-paid cards but, like always, you need to be selective and careful. If you have or know someone who has, I would love to get your opinions and experiences. American Express offers one that interests me but I am open to other types.
1 person likes this
15 responses
@pahak627 (4198)
• Philippines
15 Sep 12
What I have is an ATM/Visa Card which I sometimes use in stores. I don't know yet about these prepaid credit cards which are offered by major credit card companies.
1 person likes this
• United States
15 Sep 12
I don't know much about the prepaid credit cards myself. I believe that Visa, Mastercard and American Express all offer prepaid cards. This is new to me.
• Philippines
16 Sep 12
prepaid-credit card is somehow like the virtual credit card that we sometimes use in online transaction without a need of opening for a bank account, Some used it to activate paypal as what i did before as i dont have credit card to activate paypal as what they normally ask in my country, so instead of waiting for many months of real credit card approval i decided to get a virtual credit card where i load up some amount, i also use it to purchase something online, its easy to get virtual prepaid credit card as there's no need for too much personal information as long as you have your full name then they will give you a certain number to transact online. Though of course you have to buy and load a prepaid credit card which is not as easy as going to the bank and deposit funds to your debit card.
• United States
16 Sep 12
My main interest in a prepaid credit card is for travel such as paying hotel bills, transportation, etc. I think that they are also good for persons who have trouble getting a real credit card and for youngsters. They make good gifts. It does seem that there is some difficulty loading them and then there are extra fees also.
@ARIES1973 (9531)
• Legaspi, Philippines
15 Sep 12
Is that the same as debit card? We also have that in our place but I never tried it. I have a credit card and I amusing it for my purchases.
1 person likes this
• United States
15 Sep 12
There are prepaid credit cards as well as prepaid debit cards. I do not know the difference. it sounds like the same thing to me because you have to load money on either before you can use them.
• Philippines
15 Sep 12
No its not the same as debit card as credit card is not connected to a certain bank account as you may only have it for online transaction only or probably even non online transaction but to purchase a certain item that only accept credit card, most of the time for online transaction they prefer to have pre-paid so if anyone use the card at least they cant use it if there's no funds in it unlike the usual credit card where there's always available funds so if someone use it then there's a tendency that they can use it and its already fraud unless there's no more credit balance left on the card or in pending status so prepaid credit card is more safe to use, on the other hand Debit card is somehow connected to our savings or checking acct which is not safe to use also as someone might can have access to your account and personal information and what if there's funds available then they can just withdraw the money easily.
• United States
16 Sep 12
I have a debit card and I have a credit card. But what is a prepaid debit card? It sounds to me that it is similar to a prepaid credit card. You load them both before using them and then money is subtracted from the balance, so what is the difference?
@dorannmwin (36695)
• United States
17 Sep 12
I will use a prepaid credit card like this when I have been given one of them that is preloaded with some money, but I will use them as quickly as possible after I get them because there are a lot of expenses that are associated with using a prepaid credit card. However, we have a checking account and with our checking account is a debit card so that is what my husband and I tend to use most of the time unless for some reason we happen to have some cash. We haven't used traditional credit cards for three years now.
1 person likes this
• United States
17 Sep 12
I am only interested in a prepaid card when traveling. I have a credit card through my credit union but there have been some mix up's with it. My credit union is growing very fast and there have been some problems due to the growth. One year, they accidentally deleted my credit card and I had to prove to them that I had had one and had used it before they corrected the problem. Last month, i tried to use it only to find out it had expired. I called the credit union and found out that my new card had been returned to them from the post office for no reason at all. My credit union never even informed me. They did send me the new card but I don't want to be out of state and have anything like this happen to me. It is one thing to happen when I am at home but another thing when I am traveling. I could get stranded.
@mommaj (22743)
• United States
16 Sep 12
I have only used one prepaid card and it was a visa through Wal-mart. I don't know if any of them work well. As long as they don't have high fees they should all be about the same. I think I paid $3 for mine, but it has been awhile and I haven't used them in a long time. Good luck with whichever card you are using.
1 person likes this
• United States
16 Sep 12
I have read that Walmart offers a prepaid card. Is it good only at Walmart or can you use it anywhere?
• India
16 Sep 12
Hi friend, i don't know more about pre paid credit cards, i am also interested in getting more information about it, i don't have any credit cards till today, as it will increase our debts, so i am not interested in getting it. But the concept of pre paid credit cards are interesting and unique, i am interested in getting a pre paid credit card after making a lot of search and get more info about it
1 person likes this
• United States
16 Sep 12
Prepaid credit cards can improve your credit rating and help you get a real credit card if that is what you are aiming at. I can not recommend any because I do not know enough about them but it seems that they do have some real pluses. You will have to do a lot of searching and researching. Some come with a lot of fees so be careful.
• Philippines
16 Sep 12
Pre-paid credit cards operates like a regular credit card. The difference lies on the existing amount in the bank. With regular credit card, you can shop without any balance in the bank. Pre-paid credit card cannot be used in transactions without balances existing in the bank.
1 person likes this
• United States
16 Sep 12
The prepaid cards that I have looked into are all loadable. You have to load the money onto them before you can use them. I have not come across any that are linked to bank accounts and existing amount in bank. Are you thinking of ATM debit / credit cards?
@namiya (1599)
• Philippines
16 Sep 12
I have no clear idea about this prepaid credit cards. However if you need to reload it first before you can use it and in the process be charged a certain fee i'd rather use an ATM savings account card (here in our country) that could also serve in lieu of credit cards in paying purchases. By using this i will not shoulder additional charges but should only make sure that i have sufficient balance to avoid embarrassment when using it.
1 person likes this
• United States
16 Sep 12
I have an ATM debit card which links directly to my bank accounts. I use it locally when I shop but there have been times when my transaction was not approved because of a glitch between the retailer and my bank. I had the money in my accounts. It was embarrassing but fortunately I had cash on me. It would be a real problem if I was traveling. I am interested in prepaid credit cards for travel purposes.
@natliegleb (5186)
• India
16 Sep 12
i have not heard about it anyhow,here we only use post credit cards with real benefits with cashback also
1 person likes this
• United States
16 Sep 12
Prepaid cards may not be available in every country. Some, like American Express, seem to offer benefits. You can also give them as gifts. They make great gifts.
@airasheila (5460)
• Philippines
16 Sep 12
a pleasant day bostonphil, with the prepaid cards that we are using here, i am not too sure if the credit card company is also collaborating this things to the former. although you can purchase prepaid cards using your credit cards.
• United States
16 Sep 12
I do need to look more into prepaid cards. I do know American Express offers one. They call it reloadable cards. I have spoken to their customer service. It seems like a really good thing but you do have to pay added fees to use it. There are some other stipulations which I do not care for.
@GardenGerty (93558)
• Marion, Kansas
15 Sep 12
I had one that I bought online. It was great for some things, but not others and it charged me for each transaction. Read all the small print first.
1 person likes this
• United States
15 Sep 12
What type did you buy online? What was it great for and what was it not great for. I have read about the charges and fees.I have been doing some research and seeking opinions and recommendations.
@Jshean20 (14374)
• Canada
16 Sep 12
I have experience with Prepaid Visa Debit cards, I know that there are a lot of things you have to know before using it otherwise it will decline. Even though it says debit on the front, you still have to run it as a "credit" because there is no pin number. Also, cards like these do not work at automated gas pumps and there will be a hold put on the card even if you try to run it in the pump, the hold can be up to 8 days.
• Kingston, New York
16 Sep 12
Hi this is how I use my card If I need. Gas I went inside the Store to use it I had no problems This was with the prepaid credit card Not the reload one.
• United States
16 Sep 12
Thanks for the info. There seems to be a lot of different types of prepaid cards and a lot of different uses plus a whole lot of different experiences.
• Philippines
15 Sep 12
Pre-paid credit card is only good for online transaction to avoid fraud though if using it personally i dont recommend it coz its just the same as having debit card or atm card so why need for prepaid-credit card since most establishment already accept debit card transactions.
• United States
16 Sep 12
I am interested because could you give some more information such as, where online did you buy yours ? and what card did they give you ?.
• United States
16 Sep 12
I have a debit card and I use it frequently at home but there have been glitches in the past. I had the money in my account but there was a glitch between the retailer's machine and my bank. Transaction was not approved. In some situations, I had cash and in others, I used it as a credit card and it went through. I was thinking about a prepaid credit card for travel. Can you use a debit / credit card to book a flight? What happens if you try to pay your hotel bill with it and there is a glitch like I have experienced at Target or my grocery store? I think that you can use a prepaid credit card when traveling. It is already loaded with cash. silverfox09. There are many different types of prepaid credit cards. You have to search and you will get information.
@KOSTAS499 (1625)
• Greece
15 Sep 12
I have seen that pre-paid cards charge your a lot. I used a VISA I had for an account I didn't use. It is a a ATM/credit card that is linked to my account and can only draw money from there. No expenses at all. I linked that to Paypal and all the site I buy stuff from. Ask about expenses before you get one.
• United States
15 Sep 12
Some pre-paid cards do charge you a lot but I think there are others that charge less. I have been doing some research. It sounds like your VISA is more of a debit card which can also be used as a credit card. Is that correct?
@KOSTAS499 (1625)
• Greece
16 Sep 12
When I opened my account 12 years ago it was just an ATM card. Later it became a Visa.
@eagletrek2 (5039)
• Kingston, New York
16 Sep 12
Hi with me I did a crazy Thing the were a visa gift Card I bought 4 cards at $ 100 each + fees round off Fee was $5.00 each us money But I did not use cash to buy The cards. CVS in Florida take The jc penny credit card That what I use. The non visa one What I bought was my niegboors car With those 4. $100 each prepaid visa Card then later on. I wanted to be a.notary in Florida so I use my penny card And got other pre paid visa card And got the notary my goal was In Florida notary can marry People for $30. Then use the money to pay bills there other Things Florida notary can do To make money to. The prepaid credit card will Not work at the gas pump Need to go inside the Store 2 I use the prepaid visa Most stores take visa and not the Other brand
• United States
16 Sep 12
I have looked into the American Express prepaid card. I like some of what I have seen but there are some stipulations that i did not care for. American Express calls them reloadable cards. I was told that you can use it any any retailer that takes American Express. I am only interested in using prepaid cards when traveling such as hotel, transportation, restaurants, and etc.
@Raine38 (9031)
• United States
16 Sep 12
I have seen something like this, actually my banker told me about this new product in their bank. It is a reloadable credit card and you can also enroll it in their online banking so you can view your remaining balance as well as your statement. It works well for students who can't have the real actual credit card yet and that's where they can receive their allowance, maybe for grocery shopping, paying phone bills, etc.
• United States
16 Sep 12
These prepaid cards are becoming very popular. So, your bank offers them. I know that you can buy a Visa, Mastercard and American Express prepaid credit card. But it seems that you can also buy them directly through financial institutions from what you are telling me. It is good for young people and persons who have credit problems or overspend but I am more interested in using them when I travel.