What do you think of American Express prepaid card?
By kingparker
@kingparker (9673)
United States
June 23, 2011 4:42am CST
What do you think about these pre - paid cards offer by variety of financial institutions? And what do you think about this newly issue by American Express pre - paid card? Do you think it is a deal? Since this card doesn't charge any monthly fee or subcharge of any sort. You can order it free, and it will be accepted in anywhere that accept American Express card. But one thing keep in mind, it only allow you to withdraw from ATM once in a month. Have anyone use this one, or does anyone know about this card?
2 responses
@SilverVixen (284)
• United States
23 Jun 11
As the previous poster said, they usually do charge a low activation fee. Since it is prepaid, you cannot overcharged anything, good if you are on a budget. But since its basically like paying cash for everything, with the hassle of adding money to the account, and checking to make sure your funds are not stolen, I see no point in them. The only real purpose of these cards is to rebuild credit. So unless that's what its for I wouldn't even get one. Just my opinion, but I don't have credit cards and use cash for everything.
@for3verfamous (2190)
• Canada
23 Jun 11
Actually most prepaid credit cards do have an activation fee of 7-8 dollars. I'm not sure about American Express, but I still think it's a good deal. You don't have to pay interest and you don't have to be 18 to buy one. It's more like a "universal gift card" because you can use it anywhere that accepts credit cards.
