I’ve been wanting to get a prepaid debit card. However, it seems like all them have absurd fees (monthly fees, per transaction fees, even adding money fees). The prepaid cards I’ve looked at all seem to be targeted toward low income idiots. Is anyone using a prepaid debit card that isn’t bending them over?
Are any prepaid debit cards worth a hoot?
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TheOriginalMexicanBob
Ultimate Member
The only ones I use are given as rebates for certain purchases...like this past weekend I bought new wiper blades for my car that came with the "rebate" paid with a debit card mailed to me. I guess it's cheaper for the issuing company than sending a rebate check...people cash checks...they may forget about using a debit card before it expires.
Outside of that I see no purpose to them unless you simply want to limit loss should they get lost or the number stolen.
Outside of that I see no purpose to them unless you simply want to limit loss should they get lost or the number stolen.
I got one for my Father when he was alive. He had Dementia and before it got real bad and he went into a nursing home he would wander off. We didn't want him carrying a credit card or a wad of cash since he was losing everything. I kept about $50 available on it so he could go the McDonalds etc. It was Bluebird. There wasn't any fee that I can remember.
Name Taken
Ultimate Member
What's the intent of the card? My wife buys these every Christmas so she can "surprise" me with the gift and so the purchase doesn't show up on our debit account.
Besides "untraceable" purchases I can't see the benefit to one.
Besides "untraceable" purchases I can't see the benefit to one.
StantonCree
Watch your beer
- Jan 23, 2011
- 23,932
Clark Howard had a massive rant on what a waste of money these are, he especially complained about the VISA one.
davsco
Ultimate Member
i wouldn't pay anyone a penny to hold my money for me.
i do just the opposite, use a points-paying credit card, pay it off every month, zero interest, zero fees, never charge what i can't or won't pay off.
i do just the opposite, use a points-paying credit card, pay it off every month, zero interest, zero fees, never charge what i can't or won't pay off.
If you belong to a credit union, try there.
My dear brother was pinching mom’s walmart card (with her approval) supposedly, and getting quick cash whenever he was short.
So one day, she lost her card and I had Wm put a freeze loss on it. Her credit union has a ‘personalized’ debit card that I can load for her with a few bucks as needed.
There are several options -
1 is a 3 use (recharge) card at 3 bucks per reload, then it is no good.
2 is the personal one (with her name on it) looks like a real card, but no liability past what is on the card at the time. No over limit crap. And I can see where she has used it.
It has saved me a fortune in over limit fees !
My dear brother was pinching mom’s walmart card (with her approval) supposedly, and getting quick cash whenever he was short.
So one day, she lost her card and I had Wm put a freeze loss on it. Her credit union has a ‘personalized’ debit card that I can load for her with a few bucks as needed.
There are several options -
1 is a 3 use (recharge) card at 3 bucks per reload, then it is no good.
2 is the personal one (with her name on it) looks like a real card, but no liability past what is on the card at the time. No over limit crap. And I can see where she has used it.
It has saved me a fortune in over limit fees !
euchre98
Active Member
My credit union has them the fee is $1.
After 24 hours you can log into the web address on the back of the card or change your address...........
After 24 hours you can log into the web address on the back of the card or change your address...........
Cash Gifts to my middle school daughter are turned into prepaid cards. She can then spend them on stuff she wants typically online music/games or Amazon stuff. She gets to buy what she wants online while limiting exposure of my "real" cards that would be her only other option for online purchases.
Falkus
Dating Scarlett Johansson
Never give anything like that... why pay fees like others say ..
Debt is dumb. Cash is king.
-- Dave Ramsey
Debt is dumb. Cash is king.
-- Dave Ramsey
vgplayer
Ultimate Member
If the reason is for making online purchases, I recently starting using Privacy.com. I can generate a unique card per website that is tied back to my bank/debit account. You can generate one time use card numbers and set monthly and per charge limits.
The only negative is currently they have spend limits although you can request increases. By default you can do $250 per day and $1000 per 30 days. I tried buying a laptop kept getting rejected before I realized about the limits. Also limited to 12 cards in a 24 hour period.
The only negative is currently they have spend limits although you can request increases. By default you can do $250 per day and $1000 per 30 days. I tried buying a laptop kept getting rejected before I realized about the limits. Also limited to 12 cards in a 24 hour period.
