Make money with prepaid credit card

Prepaid2Cash allowed me to finally get some value out of the assorted gift cards and rebate cards that I’ve accumulated over years. Prepaid2Cash has been a life saver! Some bills simply do not take prepaid cards, having the option to deposit funds into my checking account has saved me more than. I highly recommend the service! I used Czrd to convert a Visa gift caed, for switching cell phone providers. The amount on the gift card was significant and P2C provided a wonderful service! Great company! Very customer centric and smooth transactions! I was able to quickly get cash for my Visa git card, would highly recommend over other competition. Prepaid2Cash is very professional in how they conduct their business.

What are the pros and cons?

A prepaid debit card is an alternative banking card that only lets you spend the money you load onto the card. Like a debit card, a prepaid card works at any merchant that accepts its payment network, such as Visa or Mastercard. Reviews of best prepaid debit cards. Unlike a debit card, though, you can spend only the amount of money that you put in the prepaid card account. The card companies usually offer several ways to do this. With some cards, you also can link to a checking account to make online transfers. But they have limitations. If you try spending more than you have, most cards simply decline without a fee. Although they typically have online services, many prepaid cards lack standard bank services, such as a way to withdraw or reload cash for free. If you associate checking accounts with monthly costs, you might have a different experience with an online checking option. A growing number of online banks offer accounts without monthly fees or minimum balance requirements. Check out these three. Bonus Features No overdraft fees. Bonus Features Account pays interest. Reload options: You can usually add money to a card in multiple ways, such as setting up direct deposits, loading cash at participating retailers and depositing checks at ATMs. Some cards also let you make online transfers or mobile check deposits from a smartphone. Fees: You might have to pay for activating a card, making deposits and using out-of-network ATMs. Some cards charge a fee for every purchase and ATM transaction. Amount limits: Some cards restrict how much you can withdraw, reload or spend during a certain period, such as a day or month.

What is a prepaid debit card?

Credit Card Help Advertiser Disclosure. Thinking about picking up a reloadable prepaid card? The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Join the club. In , more than half of all Americans purchased a prepaid card for personal use, compared to 19 percent in , according to Synergistics Research Corp. There are more than a dozen types on the market now, and plenty of variations that can make them a wonderful or terrible choice. Here are the nine things you need to know about general purpose prepaid cards. Prepaid cards are more like debit than credit. You just load dollars directly onto the card and then use that balance for purchases. When the balance on the card dips too low, you reload more money. Because prepaid cards are associated with major card networks — Visa, MasterCard, American Express and Discover — they can be used anywhere debit cards can: to buy groceries, gas up your car, even pay bills online. And because the fees merchants pay to accept debit cards including prepaid debit cards are lower than those for credit cards, there may be places that will accept your prepaid card, but not credit cards.

Where do Americans buy general purpose prepaid cards?

Show less With a prepaid credit card, you deposit money onto the card, and then witj it to purchase goods or services at any retailer that accepts credit cards. Prepaid cards work much like debit cards, except that the fees for using them are typically higher and more complex. Using a prepaid credit card is mostly the same as a regular credit card, but there are a few things to remember. Use a mobile banking app or certain ATMs to check your balance for free.

Keep in mind that many third-party ATMs will charge you for checking your balance. If czrd have the necessary funds, you can use your prepaid card to shop in stores, purchase things online, and pay your bills.

You can also use it to withdraw cash, but many providers will charge you for this service. For more tips from our Financial co-author, including how to rent a car with a prepaid credit card, read on! This article was co-authored by Michael R. Michael R. Lewis is a retired corporate executive, entrepreneur, and investment advisor in Texas. Categories: Credit Cards. Log in Facebook Loading Google Loading Civic Loading No account yet? Create an account.

Edit this Article. We use cookies creidt make wikiHow great. By using our site, you agree to our cookie policy. Article Edit. Learn why people trust wikiHow. Co-authored by Michael R. Lewis Updated: January 15, There are 19 references cited cedit this article, which can be found at the bottom of the page. Check your balance before using your card.

A prepaid credit card has to be funded with money you load onto it. Before purchasing anything, you should be sure you know your balance because you can get hit with big fees for making a purchase without enough money on your card. Others charge a fee at all ATMs, so you will want to check your balance by phone with an automated system, not a live representative, as that also comes with a feeby text, by app, or online. Buy goods and services as you would with a credit card.

When shopping, a prepaid card works just like a credit card. Pay in the store when buying gas with your prepaid card.

This hold might not clear for several wifh, temporarily reducing the amount you have available to spend on your card. To vard the exact amount instead, you will need to go inside to pay the attendant. Withdraw money from an ATM. Prepaid cards work just like debit cards for withdrawing money. Pay with checks. Some cards will allow you to pay your creditors by issuing a paper or electronic check for you.

Rent a car with a prepaid card. While it is easier to rent with a regular credit card or debit card, there are companies such as Enterprise that accept prepaid credit cards when renting cars. Be aware though that you will usually have a more limited choice in cars unless you purchase insurance, as agencies are reluctant to rent more expensive models to people without credit cards.

Most companies will allow you to pay for your car upon return with a prepaid card, after initially checking it out with a regular credit card. There are a few additional steps you may have to take to rent with a prepaid card: Rent Early — Companies that allow prepaid cars often require you to reserve weeks in advance.

In most instances, you cannot rent at the counter with a prepaid card. Contact the Local Office — Even companies that often accept prepaid cards, like Enterprise, require you to contact the local office to discuss the details of payment without a standard credit card. Credit Check — Some companies will require a credit check before allowing you to pay with a prepaid card.

The credit check is to help them to evaluate the level of risk in renting to you — i. Additional Information — The rental agency may require additional documents for renters using prepaid cards, including paycheck stubs, proof of insurance, current utility bills, and personal references. If renting at an airport, most companies will only accept a prepaid card if you can show evidence of a return flight from that same airport.

Check into a hotel. With most hotels, you can pre-book a hotel room online with your pre-paid card. Most hotels will also require a deposit to cover the cost of your room and any car extra charges. This deposit is typically done as a pre-authorization on your credit card. Some hotels allow prepaid cards for checkin. This deposit can be charged on your prepaid card. Buy airline tickets. You can use your prepaid credit credt to purchase airline tickets, just as you would a normal credit card.

Unlike hotels or rental cars, there are no incidental charges associated with airline tickets, so a line of credit is not needed when purchasing. Many airlines will require you to purchase your ticket at least 6 days before departure if using a prepaid card.

Reserve a spot on a cruise. Most major cruise lines accept prepaid cards ceedit payment for the cruise ticket. While onboard, most lines use a cashless system, wherein all onboard purchases are charged to your boarding pass. You will need to settle any outstanding charges on you account before disembarking at the end of the cruise.

Be sure to check with the cruise line to determine the rules regarding onboard purchases before booking. Direct deposit your paycheck to your prepaix. Prepaid cards come with account and routing numbers, so you can have your paycheck sent directly to your card, just witu you would with a bank account. This is the most effective way to add money to your card.

The money will show up on your card the same day, and most prepaid cards do not charge a fee for direct deposits. Transfer money from your bank account. If you have a bank account, you can usually transfer money to your prepaid card online, via phone, or in person at the bank.

Your bank may charge for the transaction, but the prepaid card issuer generally does not. Use PayPal to add money to your card. With most prepaid cards, adding money via PayPal is free, mony the money will show up in your account in business days.

Use the account and routing number associated with your card to set it up as a bank account on PayPal. Add money at a retail store. Prepaid cards can be reloaded at many gas stations, pharmacies, grocery stores, as well as at most check cashing agents and MoneyGram and Western Union agents. In most cases, the cashier will be able to add the money directly to your card. Car with your card issuer for a list of locations where you can use a check or cash to reload your card.

Purchase a MoneyPak. With many prepaid cards, you can buy a MoneyPak at retailers with which to add funds to your card. The MoneyPak is a card with a cash value on it and a code number that you use to transfer that value to your prepaid card. In general, the amount you pay for the MoneyPak will be the amount added to your wuth, though there are sometimes fees involved.

After purchasing the MoneyPak, access your prepaid card account online or by phone and use the MoneyPak code to add the money to your card. Reload at an ATM. Prepaid cards issued by banks will often let you add money to the cards at ATMs of the bank, though some will only allow it at moneyy ATM locations. Check the terms of a card before you purchase it to see if reloading at ATMs is possible. Know the fee structure of your card.

You can check here for a break down of fees on some of the most common cards, but be sure to also contact your issuer for an exact list. Check if your card is pay-as-you go or has a monthly fee. Most cards charge a monthly fee instead. Check with your issuer to see if you can avoid this fee in one of these ways: [16] By making a certain number of purchases a month. By using direct deposit to add money to your account.

By loading a certain amount of money each month. Reload as infrequently as possible if your issuer charges for adding money to your card. Be aware, though, that some cards have limits as to how much you can add at. Try to avoid cards that both charge for adding money and have low limits on how much you can add. Make sure to only withdraw money at network ATMs or use the cash back feature at stores.

Check with your issuer to see which ATMs are free.

Mastercard® Prepaid Cards

Prepaid credit cards may be used to both pay bills—either as a one-time transaction or recurring transaction —and transfer money to other cards of the same brand. Some prepaid credit card bill payments work in the make money with prepaid credit card manner that regular credit cards. Payments may be made on a utility’s website, on the telephone with representatives of the utility, or by filling out a form included with a paper crdeit in the mail and returning it to the utility. There is usually no fee for transactions such as. Other prepaid credit card bill payments may be made through the card issuer’s website. However, there may be a fee for bill payments made through a prepaid credit card issuer’s website. Many prepaid credit cards offered by MasterCard and Visa allow for monej transfers for cards of the same brand or network issuer. Most prepaid cards do not allow transfers between cards of different brands, however, or between prepaid cards and regular credit cards, even if they are from the same issuer. There is generally no fee for receiving Cfedit Union money transfers. There are, however, fees for sending Western Union money transfers; these fees vary and are determined at the time the transfer is sent. When you first obtain a prepaid credit card, it is necessary to register the card, activate it and load funds onto it. Some cards come with preloaded amounts, so all that is required is to register and activate the card. They are similar to gift cardsbut decidedly different.