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Old 09-15-2009, 10:11 AM   #1
cab333
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Prepaid Mastercard Credit Card

Hello,

Just wondering if anyone out there has ever used one of these credit cards? I have been researching prepaid credit cards, and apparently BMO has the best one (called a Travel Card). If you have used one of these prepaid cards, do you use it like a normal regular credit card? I had read that hotels do not accept them, and that would be my main reason for obtaining one...to use when we check in to have a credit card on file.

Any help anyone can offer would be greatly appreciated....oh, and this is not the "gift cards" that you purchase at local stores, this is an actual prepaid credit card that I believe you obtain from the bank.

TIA!
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Old 09-15-2009, 12:05 PM   #2
mtmbyck
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I gave these out for Christmas last year. Bought them at Shoppers Drug Mart - they were $100 ones. You use them just as if they were a credit card until the $100 is gone. I can see hotels not accepting them as the guarantee on the room is usually higher than the value of that card - they usually require a certain balance be avaialble on your card ($250 or $500).

I do find there are more places that do not accept MC over VISA which seems to be accepted everywhere. But so far I have not found a way to buy a preloaded VISA card.

It is a great gift idea IMHO.
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Old 09-15-2009, 12:06 PM   #3
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oops - you said NOT a gift card....... SORRY.

But what is the difference? This was a preloaded MC with $100. What would the bank offer differently?
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Old 09-15-2009, 12:57 PM   #4
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These are cards that you get from the bank that you can continuously put money onto, it is like a credit card except you put the money on it BEFORE you spend it...I think it is a good alternative to travellers cheques. So you put $500 onto it, and you have $500 credit. I don't know if I am explaining it right, if you are curious here is the BMO link...

http://www4.bmo.com/creditcards/prep...277469,00.html
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Old 09-16-2009, 07:04 PM   #5
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But it doesn't work any differently from a gift card other than being honored at more stores.

You need to beware of prepaid "credit" cards that cost something for the card itself over and above the $100. or $500. loaded onto it and/or that have a fee for reloading.

I would just as well use a regular credit card or use cash.

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Old 09-16-2009, 09:11 PM   #6
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I have a pp MC for my online shopping since I don't havea REAL credit card lol. I use it to make hotel ressies etc. It is just like a debit card you can only spend what's on it. Most places won't accept it as the card on file because it is more of a debit card than a cc.
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Old 09-17-2009, 02:12 PM   #7
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I have a prepaid Mastercard from Money Mart. Went in that day, walked out with it within minutes, booked a hotel stay with it. So quick and easy! I always use it now to book hotels because I was finding extra charges from hotels on my MC after our stays. Once we stayed at the Kalahari in OHIO and we booked through travelocity, prepaid the trip and when we left they tried to charge our whole stay AGAIN to our MC. Thank goodness it was a prepaid and they couldnt. I get a text message every time someone tries to charge it telling me who and where and the amount. It's great! I booked our Disney trip with it too, so excited we leave in 13 days!!
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Old 09-18-2009, 11:35 AM   #8
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Just for clarity - the BMO Prepaid Travel Mastercard is accepted in exactly the same was as the 'regular' BMO Mastercard. There is an initial cost to obtain the card $9.95 and the card is valid for 3 years. You pre-pay as much as you want onto the card and then can spend up to that limit. You can re-load your card at the Branch or via telephone/online banking the same way as you would any other bill payment. You get the same purchase protection as you do with a regular mastercard and can get optional trip insurance.
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Old 09-18-2009, 06:29 PM   #9
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Thanks for all your replies - I actually contacted BMO and they said that some hotels will accept the cards to be put down for incidentals...some won't - they recommended I check in advance. Not a big deal, just thought if anyone here had ever used one of the cards perhaps I could get the low-down.

Comparable to Travellers Cheques it seems...perhaps I will try this option for this upcoming trip and see how I like it.

2 weeks today and I will be there! YAY!
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Old 09-18-2009, 06:53 PM   #10
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Hi!

I have the BMO prepaid Mastercard and have used it at Disney,many times, it is accepted everywhere as a normal Mastercard. I have never had a problem using it or putting it on file at the hotel. I have used it at Saragota Springs and at the Music All star. They don't even know the difference.

If you need to know anything else, just ask... hope this helps!
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Old 09-20-2009, 06:36 AM   #11
Charleyann
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Quote:
Originally Posted by cab333 View Post
Hello,

Just wondering if anyone out there has ever used one of these credit cards? I have been researching prepaid credit cards, and apparently BMO has the best one (called a Travel Card). If you have used one of these prepaid cards, do you use it like a normal regular credit card? I had read that hotels do not accept them, and that would be my main reason for obtaining one...to use when we check in to have a credit card on file.

Any help anyone can offer would be greatly appreciated....oh, and this is not the "gift cards" that you purchase at local stores, this is an actual prepaid credit card that I believe you obtain from the bank.

TIA!
I have one(BMO) and use it all the time! I use it for Hotels, making cruise payments, hotel and disney payments. I have used it for car rentals etc.....Use it just like a credit card! Nobody knows it is prepaid unless they read the fine print or you tell them. it offer you airmiles for every $20 you spend.

! prefer this for online purchases. People can only steal what you have on it or don't have on it...

I have even used this at Disney for charging with room charging privelages

A very good prepaid card!!!

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Old 09-21-2009, 08:26 PM   #12
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When you purchase these cards and load them, is it in CAN$ or US $. How much can you put on them. Thanks in advance. Also, does anyone know if a 17yr old can use them?
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Old 09-21-2009, 10:11 PM   #13
glenpreece
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Originally Posted by momtolots View Post
When you purchase these cards and load them, is it in CAN$ or US $. How much can you put on them. Thanks in advance. Also, does anyone know if a 17yr old can use them?
I believe on the money mart MC it is a limit of $5000 dollars as for the 17 y o not sure but i am pretty sure you can use it if under 18.
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Old 09-21-2009, 10:20 PM   #14
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The BMO travel card is also a limit of 5000$, as for the 17 yr old, I am not sure, I think it should be fine, the best is to ask the company that issued the card ... being Money Mart or BMO.

The BMO is funded in CDN $, but you can still use it in the US.
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Old 09-21-2009, 10:42 PM   #15
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Just keep in mind you pay per transaction (weather its at an atm doing a withdrawl or swipping it like a regular card)
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