For those looking for Pre-paid cards.....

[4greatboys]

American Express has a new card that is used just like Travelers checks. Here is the link:

http://www10.americanexpress.com/sif/cda/page/0,1641,18622,00.asp

 

[Amirah95]

See this thread because another DISer made a comment saying that they charge expensive fees for these cards. http://www.disboards.com/showthread.php?s=&threadid=612708

 

[4greatboys]

This was the only thing I saw about fees:

Quantities & Amounts
Your Card must start with a minimum load of $300 and a maximum of $2750, which is also the maximum you may load on your Card(s) during any 14-day period. You can order up to 4 Cards at a time. Their total combined value cannot exceed $2750. There is a $14.95 issuance fee per Card.

Found these fees too:

Get Cash
The TravelFunds Card may also be used at ATMs where you see the American Express logo. Your maximum daily withdrawal is $400. If you reach that limit, you may still use the Card to purchase goods and services, as long as you have funds available. The Card will be charged a $2.50 fee for each ATM use. Additional bank fees may apply. Find an ATM here.

Reload
When you need to add funds (what we call reloading), call American Express Customer Service. You can add funds in $100 increments with a $100 minimum (plus a $5 reload fee), billable to a debit, credit or charge card you provide. The amount will typically appear on your Card within 24 hours from the day you call, but it may take as long as 3 days if you call on Friday or during the weekend.

 

[hulabird]

Yes. The fee is no different than when you use your card at any ATM, everyone charges some kind of fee. I think the card is pretty cool.

 

[monalsw]

for future reference...where can these cards be purchased?

tia!

 

[Purrrrfecta]

click on the link thatk 4 great boys provided at the top of the page.

 

[monalsw]

oops, wasn't thinking! sometimes, i shouldn't be allowed out by myself, lol!

thanks for the reality check!

 

[etwinchester]

I use the Visa Buxx card (by wachoiva), but you don't need to bank with Wachovia to have the card.

It's actually geered towards teens. I saw it on our local news last year around xmas. You are charged a one-time initial fee. If you don't bank with Wachovia it states that they charge a small amount for transfers to the card. It's actually not true because when I first go the card, I didn't bank with Wachovia and was never charged anything.

The maximum you can have on the card is $1,000, which isn't much but again, it was really geered towards teens. It's enough for me to put some money on for vacations, xmas shopping, or just personal shopping for myself. Adding funds on weekly allows me to stick with a budget when spending.

If you want the card for yourself, sign yourself up as the parent and the teen. You can also add cards for DH and children by adding them on as teens. You can get emails when they fall below a certain balance or when the card is being used in places it shouldn't be (adult places).

I love this card. Can't wait till DD is old enough to use one. It will be nice to teach her about budgeting by using this card.