What Is A Prepaid Card
Similar to a gift card, you add value to the prepaid card before you can use it, which is essentially like prepaying for future purchases. But prepaid cards come with a few more bells and whistles, like the ability to set up direct deposit and check your balance on a mobile app. They also require more attention since you can incur fees for simply having a card or reloading it with more cash.
Prepaid cards can be used to make purchases and pay bills, just like debit or credit cards. They are accepted nearly everywhere since they are often backed by a major card network, such as Visa, Mastercard or American Express.
Issuers won’t do a credit check when you open a prepaid card, but you also don’t build a credit history when you use one.
One disadvantage of using a prepaid card is that you can only complete transactions up to the amount you have loaded onto it. If you add $200 to your prepaid card, you can only spend up to $200. Any purchases you attempt to make exceeding $200 will be declined until you load more money onto your card.
Additionally, there’s often a cap on how much money you can have on your card. The cards on this list have limits ranging from $5,000 to $100,000. That said, the cap is generally pretty similar to a on a credit card.
Do I Have To Pay The Activation Fee
Im often asked if there is any way to buy a Visa gift card without paying the activation fee or purchase charge. The answer is no. Visa, Mastercard®, American Express® and other bank-issued gift cards charge a purchase fee to cover the money they have to pay to third parties like the store, the program manager, and the processor. Though you cant avoid paying the purchase charge entirely, there are ways to save money on Visa and other open loop gift cards.
Can Prepaid Cards Build Or Establish Credit
We say that prepaid cards cant help increase your credit because they dont have a credit line assigned to them like a credit card. You can utilize the money you load onto the card generally from your account, through direct deposit, or with cash, but you dont borrow any from the card issuer in the process.
Since theres no credit relationship, theres nothing to report to the credit bureaus, which produce your credit reports. That said, prepaid cards can be considered with your money management. For example, you can load a set amount of money onto your menu each week to help your budget.
Also, some cards enable you to add sub-accounts for a spouse or kids. Most prepaid cards have monthly fees, and some even charge you for loading cash onto the card at local retailers. If youre considering a prepaid card, do your diligence to find one that suits your needs without high costs.
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When You Should Get A Prepaid Card
Prepaid cards are a good option for parents who want to give their kids spending money without handing them cash that could potentially get lost. You can request a new prepaid card if it goes missing, and many card issuers allow you to lock your card to prevent unauthorized use.
And since you can incur overdraft fees with a debit card or quickly run up a balance on a credit card, a prepaid card can help you limit your kids spending to the amount loaded on the card.
Choosing a prepaid card could be a good choice for you if you have a history of overspending. A prepaid card might be a better alternative than a debit or credit card, as it can force you to stick to a budget by declining purchases that exceed the balance in your account. But make sure it makes financial sense. Even though you’re saving on potential interest charges or overdraft fees, the monthly fees on a prepaid card can get very expensive, too. If you decide that using a prepaid card makes it easier for you to manage your finances, make sure to sign up for a no-fee card.
American Express And Visa Gift Cards
You can get Visa Gift Cards from GiftCardMall. You wont really save any money on Visa Gift Cards unless a promotion pops up to save on the Purchase Fee.
With American Express, however, you can save money on either the Purchase Fees and/or the Shipping Fees with promotion codes. Find updated Amex Gift Card promotion codes here. American Express Gift Cards page.
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How To Cancel A Prepaid Card
When you decide that you no longer want your prepaid card, whether that’s because you’re opting for credit or debit, you’ll need to take some action. You can’t just forget about the card because you could still incur monthly fees.
In order to cancel a prepaid card, you’ll first need to withdraw all of the money currently in your account. You can typically withdraw money at an ATM, through a transfer to another account or by requesting a check. Once your balance reaches $0, you can call your card issuer to cancel your account.
Visa Gift Cards Are Sold Online
An easy place to buy Visa® Gift Cards is online because you can order them right from your phone while youre out and about or you can buy one straight from your laptop or tablet when youre watching TV with your kids.
The best thing about ordering a gift card online is that you often have the ability to customize the Visa gift card with a name, greeting and possibly even a photo or video. The downside to ordering a Visa gift card online is that you might have to pay shipping charges and, unless you order an electronic gift card, youll have to wait for the plastic card to be delivered. If time is your friend, then this is the gift card I recommend.
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Get A Visa Gift Card With Rewards
Buy a Five Back Visa Card now.
Visa just launched a new gift card that gives you 5% money back when you use the gift card at participating merchants. The gift card is called Five Back Visa and its available in stores and online for $6.95 plus the dollar value of the card.
When you use the Five Back Visa gift card to make a purchase at a growing list of merchants, youll get 5% of the transaction amount loaded back onto your card. So, for example, if you use the gift card to make a $20 purchase at CVS, youll get $1 loaded back onto the card after the transaction is complete. That seems simple enough.
The savings, however, stack up further if you get strategic with the gift card using the following tricks:
Shop at Participating Merchants.
The Five Back Visa gift card is usable wherever Visa debit cards are accepted, but you can reduce the overall cost to purchase the gift card by using it at merchants listed on the Five Back Visa website. If you buy a $100 Five Back Visa gift card, youll pay $6.95 to activate it. If you only use the card at participating merchants, youll get $5 back on the initial purchase and an extra 5% on the $5 you earn for a total of $5.26 back by the time the gift card is fully redeemed. That makes the total cost of the gift card just $1.69. Not a bad deal. If you give the gift card to someone else, then thats an additional $5.26 the recipient has to enjoy.
Stack onto other Deals.
Load the Card with More than $140.
Buying Gift Cards Online
Many financial institutions and major retailers such as Walmart and Target sell the cards online, although some banks only sell to their customers. You can also locate online vendors on the Visa gift card website.
Choose a vendor and click the icon. First, choose a card design and gift amount, and then select a delivery method, such as mail or email. Enter information on the recipient, including his address or email. The vendor will accept payment by check or credit card.
Purchasing a Visa gift card from an online source is the most convenient for the majority of people. However, you cannot use the card until it is physically shipped to you. The best online sources for Visa gift cards include credit unions and banks such as Navy Federal Credit Union, PNC Bank, Wells Fargo and Chase. Further, Visa gift cards are available in online card centers such as Gift Card Mall, Giftcards.com, and GiveCard.io.
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Want To Get A Visa Gift Card
A smart gift anyone can appreciate.
The Visa Gift card is an ideal choice for birthdays, holidays, weddings, and suits all your gift-giving needs. It’s also perfect for people of all ages. You decide how much money to give they decide where to spend it.
You will receive important information regarding the Visa Gift card such as how to activate and use the card. This information should be given to the recipient of the card.
Best Options For Buying Visa And Mastercard Gift Cards
A common practice for increasing credit card rewards is to use a credit card to buy PIN-enabled Visa or Mastercard gift cards, and then liquidate those cards by using them to reload prepaid cards, buy money orders, or pay bills.
The first step is to find PIN-enabled Visa or Mastercard gift cards that can be bought with a credit card, with low fees, and without risk of incurring cash advance fees. Thats where this post can help. Note that this post focuses on options available within the United States only. Within the US, options vary by region, by county, by store, and even from one cashier to another.
You can often find promotions to save on the activation fees. Current and recently expired promotions are listed here:
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Benefits Of A Free Prepaid Credit Card
There are numerous advantages of a free prepaid credit card in the following, we mention the crucial benefits of the free prepaid card.
- The prepaid card aids you to adhere to the spending limit as per your budget.
- The card is easy to obtain if you are not looking for any other credit card
- No employment verification is queried for card issuance.
- Also can be used to distribute salaries to the employees
- You cant get into debt as it offers no credit facility
- Some banks even allow you to withdraw cash using the card
- Can be used to pay utility bills
- Also, it can function as a gift card or travel card.
How Secure Are Gift Cards
If you lose your gift card, someone else may use it since it does not directly link to you. It is just like money. If you misplace your notes, someone may collect and use them. However other security measures help to make loading secure mainly to protect the merchants from fraud.
Data stored in the gift card is usually encrypted to ensure that a standard card reader cannot read it. Again, some companies typically require you to call a specific number when reloading your card.
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Stack With Amex Offers Or Chase Offers
As you know it, the stars are aligned. Currently, both American Express and Chase have promotions at Staples through their AMEX Offers and Chase Offers program.
If you dont know what these are, its basically additional savings that American Express and Chase provides to their card holders. You just have to activate the offers to your account.
You can find all of the current offers by logging into your account on your desktop or mobile device on the main page, theres a section that dedicated to these deals.
Buy Discounted Gift Cards On Ebay
There are two ways of buying gift cards on eBay:
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Use Donotpay To Redeem Cash From Your Gift Cards
Besides helping you save money on gift cards, DoNotPay can also assist you in redeeming the remaining balance on them. Do you have a gift card you no longer want to use? Dont let the leftover money go to waste! Use DoNotPay to get the cash back in three steps!
What Should I Do If My Gift Card Get Lost
If you lost your gift card, you can report to your issuer of the gift card and see if you can get a replacement. It depends on whether the terms and conditions of the company allow for replacement. If they replace, you will need to have the card number or the receipt you used to purchase the card.
Moreover, you will need to understand a few things, such as keeping information concerning your documents in a consolidated account such as Google Drive or any other cloud storage account. Take pictures and upload them there for reference.
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The 9 Reloadable Gift Cards With No Fees
A gift card is a prepaid shopping card loaded with a certain amount of money meant to make purchases at specific stores. Some people refer to a gift card as a gift voucher or gift token. Some gift cards are universal, whereby you can shop at any outlet. Banks usually issue general cards. Most reputable businesses issue reloadable gift cards with no fees. You just get it for free.
Gift cards are specifically for shopping purposes. You cannot withdraw cash using a gift card at any point, unlike ATM cards, which you can use to withdraw money at ATM points. As the name depicts, these are gifts. Employers, at times, give gift cards to their employees as a sign of appreciation of good work. Individuals also can provide gift cards to their loved ones during certain special days.
You can purchase a gift card from a bank or by using an online checking account such as PayPal. If you want to buy gift cards online with checking account, you need to have an account with either a bank or an online checking account such as PayPal, Payoneer, or WorldRemit, among others. When purchasing, you indicate the amount of money you wish to use before tapping okay button.
Where To Get Visa Gift Cards With No Fee
Most Visa cash gift cards come with an activation fee. In the table below, you can see how much the purchase or activation fee varies depending on the cards balance:
The purchase fee varies only if the cash gift card is physical. If you have a digital Visa gift card, the activation fee is $5.95, regardless of the balance.
To avoid paying the activation fee, you should purchase a Visa gift card in one of the following financial institutions:
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Buying Gift Cards In Person
Visa gift cards are sold at banks, grocery stores, big-box stores, and many other retailers nationwide. You can search banks in your area through a basic internet search and visit them for the card. The same internet search as simple as ”Visa gift cards” can provide alternatives on where the cards are available. You need to have an internet connection on your iPhone or computer and also turning on your GPS to locate Visa Gift centers in your location.
The cards are usually sold like any other retail item, which means you can pay by check, debit card, credit card or cash, depending on the store. When you buy Visa gift cards in a store, the cashier must activate them at the register.
Check Your Visa Gift Card Balance
Please have your gift card ready when you check the balance.
If you purchased or received a Visa gift card right from Gift Card Granny, visit our Visa balance check page for current balance information.
For Visa gift cards not purchased on Gift Card Granny, you must contact the financial institution responsible for your gift card in order to check the balance Visa is unique in that it doesnt provide gift card balances or transaction information for its gift cards.
Here are the most common issuing banks and providers of Visa gift cards:
See our Visa Gift Card fee schedule.
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