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February 10, 2011

Prepaid Credit Cards. … The Good, Bad and Ugly.

Filed under: Uncategorized — teddytowncrier @ 3:34 pm
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Prepaid Credit Cards. …. A few things to watch out for.

Prepaid Credit Cards are a handy payment device for special uses and I use them frequently for making purchases when I wish to avoid the possibility of some-one “double dipping” and draining my account.

Since there is no link between my banking accounts and this prepaid card;   There’s little chance bandits can drain my account.

Additionally; I can make purchases which I would prefer not to show up on my records. … (Credit Card records can be subpoenaed ).

There are small fees for using these cards and “maintenance fees” can kick in after a few months but it’s a Rip Off that I’ll tolerate for their convenience.

These cards are available in amounts of $25 to $500 and are available at most of the chain Drug Stores.   Just keep your purchase and transaction records in case you do need to dispute an item.

Even though there is a myriad of benefits from using prepaid cards; … There are some little known dangers and Ellen Roseman does a great job of alerting us to these dangers.

Here’s her enlightening article:    “Thieves can use gift cards before you do”


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