Prepaid VISA or MasterCard?

My parents always give us one for Christmas. They are more like a gift card you can use anywhere. The only thing I do not like about them is that if you are making a purchase for more than is on the card you have to know exactly how much is on there. Other than that they are great. I have never made an internet purchase with them, but for security reasons that is a great idea. Also, you can’t get cash back on them.

So you’re giving them something that’s just like cash, only less useful. confused.

@Mrltty Well I like it because purchases are faster and you can buy things online without having to have a real credit card.

Also do they ever expire?

the one drawback is that there is a five or ten percent extra charge and I’m not really sure what it is for but I know when I went to get one for son and daughter in law I had to pay extra. Now, if you get the ‘gift cards’ that are specific to a particular retail store you don’t pay that extra charge.

I’ve used the cash cards from AAA when my kids have traveled overseas, and they never had any problems with them. The time it takes to reload cash to the card without a credit card is a bit slow. Plus there is the added replacement feature that you don’t get with the prepaid cards that you can get at the stores. My daughter lost a card in Denmark, and had it replaced in 24 hours. I know you didn’t ask about traveling with a credit card, but the feature that I liked with this option was there was not a transaction fee for purchases, only for ATM withdrawals, which you would expect anyways. It had the added convenience of being able to put a large amount of cash on the card up front. The balance could be managed online.

I’m not stating that the prepaid cards have no point or are worthless. I’m saying they’re a pretty thoughtless gift. Worse than even Gift Certificates. At least a GC says “I’m not entirely sure what you’d like, but I know you’d like something from this store.” Cash or the prepaid Visa/MC says “I have no idea what you’d like, here’s some money.”

I would rather my parents give cash or a Visa/MC than a gift they are horrible gift givers! I can at least use the cash where as I can’t (or won’t) use the totally wretched non returnable clearance clothing item. Besides to me it says “I know you would like cash, here is some cash”

So we agree then…. it’s a gift given by horrible gift-givers. :-)

@MrItty, the problem is, horrible gift givers often think they are really great gift givers, and spend a lot of money being horrible gift givers. I usually balance something extremely practical that they wouldn’t buy for themselves (jumper cables, socks and underwear) with either cash or something they specifically asked for. Like a $500 gift certificate to the Mac store to put towards the new laptop she’s planning on buying.

Where prepaid cards get weird, IMHO, is when you give them to friends or co-workers. But it’s more thoughtful than a singing fish wall plaque, or the leg lamp that someone thought was hilarious and “just perfect” for you.