Thread: pre paid credit cards

I saw an ad for this on TV when I was at lunch. It is Visa's answer to allowing credit cards for Illegals.
However, I know some folks who are legal that this would be perfect for as well.
Visa
http://corporate.visa.com/pd/consume...er_prepaid.jsp

Convenience, access, and security in the palm of your hand!

The Visa Reloadable Prepaid card is a smart and cost-effective alternative to carrying cash and paying check cashing fees. Because it is a pre-funded card, you only spend what money you load on it and you can typically get it without a credit check or bank account. Simply purchase the Visa Reloadable Prepaid card, load it with the cash amount you choose and enjoy the purchasing power of Visa. With the Visa Reloadable Prepaid card, you can make purchases and pay bills anywhere Visa debit cards are accepted - including retail stores, online merchants, and by phone. You can add money to your card at the retail location where you purchased the card or through direct deposit of your wages, tax refunds, or other government disbursements (See your card program rules for details).

Hi Dagmar,

American Express has the same thing. It's the new rage. My sister bought me one for Christmas, as she didn't want to just give cash, yet she wasn't sure which stores I shop at. (didn't know which gift card to give)

Originally Posted by BlessUSA

Hi Dagmar,

American Express has the same thing. It's the new rage. My sister bought me one for Christmas, as she didn't want to just give cash, yet she wasn't sure which stores I shop at. (didn't know which gift card to give)

Yeah they seem pretty cool. I just was so bothered about BoA allowing illegals to have credit cards, because it would be discriminatory towards citizens since we have to give them a ssn to get one, this caught my eye as a way around it. Of course if it's equally available to everyone then there's nothing wrong with it. It's just why hasn't this come out before the whole BoA fiasco?

Well look at the rate they charge you on these Pre-paids to use your own money. I think if not mistaking it like you pay 9 dollars for a 50 dollar pre-paid.

Originally Posted by Scubayons

Well look at the rate they charge you on these Pre-paids to use your own money. I think if not mistaking it like you pay 9 dollars for a 50 dollar pre-paid.

Ouch!

Another Scam

I don't know why most would pay $9 on a $50 card when you can just get a Visa debit card. I have one through my bank and it doesn't cost me a dime in interest or fees.