Prepaid AMEX

[CanadianDIStraveller]

Hello!
If I buy a prepaid American express card, can I use it to pay off the balance owing after charging to the magic band all trip?

Is this a good method as oppose to exchanging CAD > USD cash ??

 

[Donald - my hero]

I wouldn't recommend this... just gave one to our daughter as a wedding gift and i noticed a few exciting things ... no silly activation fee like others, it's loadable for any amount so only need one card, AND it can be used in the states. HOWEVER, and this is a fairly large however in this case, it is not taken at face value in the States. They will convert the transaction to CDN and no indication as to when that happens (i imagine next business day ??) So they will put a "pending transaction hold" on the balance meaning you will NOT have access to the full amount since there is no way for the merchant to know how much is actually on the card. Hope this makes sense

 

[xlxo]

I'm not a fan of prepaid cards.... because of fraud... I notice some places (eg gas stations) refuse to take them.

Also pay attention to fees and lack of use. If the card is not used within weeks, the value quickly depreciates.

 

[smashing]

I was going to cash in some aeroplan miles for prepaid AMEX to use during our trip. With the exchange rate, I'm re-thinking it.

 

[hcortesis]

I've been cashing in Aeroplan points for AMEX cards for years. Never experienced any problems. The exchange rate is factored in but that is to be expected. The most difficult part is in trying to use the last few dollars on the card.

 

[Mortlives]

I was going to cash in some aeroplan miles for prepaid AMEX to use during our trip. With the exchange rate, I'm re-thinking it.

I cashed some in for an Air Canada gift card. Made my last airfare purchase much less painful.