Jeramie Posted March 25, 2008 Report Share Posted March 25, 2008 http://www.msnbc.msn.com/id/19328106/ I saw this on the news last night. From what ive read this morning its another prepaid credit card with a one time fee of $8 plus change. As long as you keep the card you can load it and use it at will. Walmarts will have them in over 1k stores by June and you can put money on your card at Walmart stores. Ebay was my knee jerk reaction. A prepaid card could come in very handy...... what say ye? Quote Link to comment Share on other sites More sharing options...
Guest Andrea Posted March 25, 2008 Report Share Posted March 25, 2008 Since I cut up all my cards a long time ago.....this sounds pretty good. But they've been out for a while I think. Walgreen's sells them. I was just wondering if all those sites like Ebay, Craig's List and ITunes accept them yet.... Quote Link to comment Share on other sites More sharing options...
wtnhunt Posted March 25, 2008 Report Share Posted March 25, 2008 Cabelas visa earns me free stuff with no fee, have no use for a wal mart card I have to pay a fee for, besides that we already have a sams club card that can be used at wal mart too I believe if we ever wanted to do so. Guess though for those who lack the control to not spend what they do not have to pay back it might be a good option. Only plus I see for a wal mart card would be for gas, sometimes their gas is cheaper than others in the area with the discount they give, but not always. Even still you can load the gift cards for that, which we often do. Quote Link to comment Share on other sites More sharing options...
Texan_Til_I_Die Posted March 25, 2008 Report Share Posted March 25, 2008 It might have it's place, like as a gift or something for the kids to take with them to college. But I don't like the idea of using it myself as a credit card. Quote Link to comment Share on other sites More sharing options...
Guest Andrea Posted March 25, 2008 Report Share Posted March 25, 2008 There are many reasons not to have a credit card besides spending more than what you have. Interest rates comes to mind. They are constantly raising them despite your prompt payments. With today's identity theft rates........using a prepaid credit card is ideal. If I found an item online that I wanted I could load the card for that amount and pay for the item. Then not worry if some jerk stole my info and started putting a bunch of crap on my credit card. Quote Link to comment Share on other sites More sharing options...
OJR Posted March 25, 2008 Report Share Posted March 25, 2008 Why would you or anyone pay a "fee" to Wal-Mart to have a card and then you have to put money into it! What a wonderful scheme for Wal-Mart to raise millions with ZERO cost to them! For get it! Quote Link to comment Share on other sites More sharing options...
Dubie Posted March 25, 2008 Report Share Posted March 25, 2008 I've always thought of using a prepaid card for online purchases...But then I figure its not realy worth the hassle and just use my Master Card the odd few time I order something. As for the interest rates, I usualy don't put more then I have on my card for the month, except in the odd emergency, like if I desperately need a car part or some such. For day to day use, I have my debit card, and I don't think there is a store left out there that doesn't take interac. I have unlimited interac transactions on my checking account. Quote Link to comment Share on other sites More sharing options...
oo_buck Posted March 25, 2008 Report Share Posted March 25, 2008 Maybe to take on vacation, so if it's lost or stolen......? Quote Link to comment Share on other sites More sharing options...
Dubie Posted March 25, 2008 Report Share Posted March 25, 2008 Problem is, if its lost or stolen, you loose all the money you put into it. With a regular Visa, a quick phone call and your money is still safe... Quote Link to comment Share on other sites More sharing options...
wtnhunt Posted March 25, 2008 Report Share Posted March 25, 2008 There are many reasons not to have a credit card besides spending more than what you have. Interest rates comes to mind. They are constantly raising them despite your prompt payments. With today's identity theft rates........using a prepaid credit card is ideal. If I found an item online that I wanted I could load the card for that amount and pay for the item. Then not worry if some jerk stole my info and started putting a bunch of crap on my credit card. You do not pay any interest if you pay off the balance you owe each month. That is the point of knowing not to spend more than you can afford to pay back. Seems like to me that a pre paid card would be a bit of a hassle for use where you see something you want and load it just for that amount to make a purchase. Much more convenient to just use a card, and most card services offer their members security of some sort. If your card or identity is stolen, think there are limits to what you have to pay so long as you report it, some offer protection specifically for that and some give it to members as part of the card services that will cover any cards you carry. Problem is, if its lost or stolen, you loose all the money you put into it. With a regular Visa, a quick phone call and your money is still safe... Yep, see that as a potential problem too. My oldest daughter had her purse stolen at school. She had a wal mart gift card in her purse along with some cash and other personal stuff. That card only had 10 bucks on it, but it was gone, anyone could use it. Quote Link to comment Share on other sites More sharing options...
Jeramie Posted March 25, 2008 Author Report Share Posted March 25, 2008 I dont know if its lost or not. Im sure there is some sort of recovery or they wouldnt sale. They are technically a VISA and VISA is pretty good about backing their cards. It isnt at all like a gift card. Quote Link to comment Share on other sites More sharing options...
cinch314 Posted March 25, 2008 Report Share Posted March 25, 2008 What is to keep people from writing down all the numbers on all the cards at Walmart, then finding out when people have bought them and taking all your money out of it before you get to use it. I know Walmart has had a problem with their gift cards and people doing this. If I remembe correctly, a person can use the gift card online and buy stuff after the gift card has been activated and you are out of the gift card money. What's to keep people from doing the same with the prepaid card? Quote Link to comment Share on other sites More sharing options...
OJR Posted March 25, 2008 Report Share Posted March 25, 2008 If you have to "prepay" this card, why don't you just pay cash for whatever item you are buying! This whole thing doesn't make any sense at all! Use a debit card or credit card, but better still don't buy anything unless you can pay CASH for it! Crazy! Quote Link to comment Share on other sites More sharing options...
huntn4bucks Posted March 25, 2008 Report Share Posted March 25, 2008 I had a relative ask for a prepaid Visa card for Christmas so I purchased one at Walgreens. I was charged a $9.95 activation fee. Once I received all the details in the mail, it stated that you would be charged $4.95 every month whether you used the card or not. Also, they charge $4.95 each time you reload the card. I sent it back and got a full refund. I was actually surprised that they refunded my $9.95 activation fee too. I ended up just giving the relative cash. Quote Link to comment Share on other sites More sharing options...
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