How do prepaid credit cards work?

I have received some travelers checks and want to put them onto a prepaid credit card, possibly, but I am not sure how they work. Also, I am not sure how to get the money onto the card. What is the travelers checks are counterfeit?

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Anonymous

Asked by Anonymous at 9:30 PM on Oct. 22, 2008 in Money & Work

This question is closed and filed in the CafeMom Encyclopedia.
Answers (5)
  • Who did you recieve the travelers checks from?
    A prepaid credit card is a card that you put money on and you cannot exceed the amount of money that is on the card -usually $500. You are just as well off using a debit card with a visa or MC logo.
    PrttyMstng

    Answer by PrttyMstng at 9:37 PM on Oct. 22, 2008

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  • Most prepaid cards can be bought from walgreens or riteaid. You will have to give them personal information address name number etc etc,hand the cashier the amount you want on the card,they have little greenback cards you buy it has a number on it that you call in it takes about an hour for the money to go on, if oyu want to know the amount you have you go to www.mymccard.com or whatever your card is. hope this made sense hehehe
    MarGeee

    Answer by MarGeee at 9:52 PM on Oct. 22, 2008

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  • They are the worse way to do business that I have seen, they charge you a monthly rate to keep YOUR money. Get an ATM card, it will save you alot in fees. The prepaid charges you a fee to get their card, and most people leave money on it, they don't spend the whole thing, so the company makes millions off of them.
    nanaevelyn

    Answer by nanaevelyn at 1:21 AM on Oct. 23, 2008

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  • Yes don not use them the only reason I bought one is because I opened up another account with my boyfriend and we needed to change internet providers .It is 10.00 to start the account and we put 20.00 on the card and we purchased it on October 9,2008.I called today to see whyit was taking so long and they couldn't understand me and they didn't understand them .We were arguing back and forth and finally they said the person never activated your card well we were supposed to get the card in 7 to ten business days now we have to wait another 7 to ten business days.There just like vonage the main office is is new york city and the call office is in china not kidding I asked.The person was arabec so they probably have a call center over seas .It's a waist of your money just get a debit card and wait for it instead.
    monica277

    Answer by monica277 at 4:44 PM on Oct. 24, 2008

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  • Me and my kids use facecard. Its free to activate with no monthly fees. If you go here http://members.facecard.com/ and enter referral code HOLIDAY CB they will put $10 on your card for free. Also im running a contest where I enter everyone in a chance to win $50 for signing up with the code HOLIDAY CB.
    Anonymous

    Answer by Anonymous at 10:02 PM on Dec. 14, 2008

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