Pre paid Credit Cards?

[Jacoby 46]

In your experience is it worth it to get these?

I have about 300.00 saved up for my vacation in November and I am awful about not spending it...I keep taking a $20.00 here and there, which drives me nuts but I have absolutely no willpower! I was thinking if I put it in a Credit Card type form, I wouldn't spend it since it is the cash I keep going to. Not that it matters if I spend it, but I would really like to save what I have right now.

Are pre paid credit cards worth it? Do they expire once you activate them? Any help/thoughts/experience would be appreciated! I know I could put the money in the bank, but I am doing this secretly so I can surprise my husband when we go! I *should* have 1500.00+ by the time we leave!

 

[Marionnette]

In your experience is it worth it to get these?

I have about 300.00 saved up for my vacation in November and I am awful about not spending it...I keep taking a $20.00 here and there, which drives me nuts but I have absolutely no willpower! I was thinking if I put it in a Credit Card type form, I wouldn't spend it since it is the cash I keep going to. Not that it matters if I spend it, but I would really like to save what I have right now.

Are pre paid credit cards worth it? Do they expire once you activate them? Any help/thoughts/experience would be appreciated! I know I could put the money in the bank, but I am doing this secretly so I can surprise my husband when we go! I *should* have 1500.00+ by the time we leave!

IMO, they aren't worth it.

You will pay an activation fee just to acquire one. It will be in the range of $5-$7 per card. Some cards have preset amounts you need to load them with. Others can have any amount you want, up to a maximum amount. If you choose a re-loadable card, you will pay monthly service fees, If the card is a single-load card, you will only pay the activation fee.

They can be a pain in the butt to use if the cashier does not know how to apply the last few dollars on the card to your purchase. A lot of people leave small amounts of cash sitting on these prepaid cards for this very reason.

My advice would be to move that cash into a savings account that you cannot access easily. IOW, one without a debit card attached to it. When it comes time to go to Disney, you can just move the money over to your checking account (with a debit card attached to it) or withdraw it as cash.

 

[Jacoby 46]

My advice would be to move that cash into a savings account that you cannot access easily. IOW, one without a debit card attached to it. When it comes time to go to Disney, you can just move the money over to your checking account (with a debit card attached to it) or withdraw it as cash.

This is not an option for me. I do not want to have to deal with a bank, but thank you for the advice.

 

[darcigo]

I have the isis card thru Amex. The app is on my phone n I can also connect my bankcard to it so I can transfer money onto it. I also get $1.00 back for each purchase I make. But besides having the app they also send you a credit card with your name on it. There's no activation fees or user fees. So if you have a smart phone I highly recommend it. ISIS by American express.

 

[cdndisneymum]

You could always put it all on a Disney gift card; I am not sure if this is helpful to you or not, I plan on doing this for our holiday.
Best of luck to you on your first run.

Cheers

 

[mblondie0509]

I have this same lack of willpower problem and I have been buying Disney Gift Cards each month. That way there is only one thing I can spend that $ on. Having it on a prepaid card is the same as cash to me and I could still theoretically use it on anything I wanted!

 

[SuzanneSLO]

I agree that prepaid MasterCard/Visa/Amex debit cards can be a pain to use

However, if one is determined to buy them, you can often avoid the fees. For example, last week Staples offered a $20 rebate if you purchased $300 worth of MasterCard prepaid cards. I bought $400 (2x$200) for $413.90, net after mail-in rebate of $393.90. -- Suzanne

 

[crazelion]

How going to local Walmart getting greendot or walmart money card that can be reload at any cashier. Also I think wal-mart has deal with American Express i think called blue card or something