When you have three children you always have a list of things to buy for them, but sometimes you forget about yourself. Like many moms, I like to treat myself once in a while. For a couple of years I have been receiving prepaid cards and I like to save them for something special. I make a wish list and try to stay within budget. When I'm ready to go shopping, I know that I have the funds to pay because I have put aside my prepaid gift cards. One of the advantages of having these cards is that I can make my purchases online or in store and I don't have to spend it all at the same store. The other thing that I like is that I can bring them on trips anywhere in the world. Recently I was in Florida and used one of my cards to buy myself something special.
What's a prepaid card?
An open loop prepaid card looks like a traditional credit and debit card but they access a set amount of funds that has been pre-loaded on the card. They can be used where Visa, Mastercard, Amex are accepted.
Benefits of using or giving a prepaid card:
1- You can use them anywhere, it's so practical!
2- You don't have to pay any interest fees or overdraft, I like this one a lot!
3- You can offer them to your children, that way they don't carry cash in their wallet. I do that with my son and he can go pick up grocery for me on his way home. It saves me a trip to the store!
4- If you like the convenience of shopping online, like I do, they are safe to use. That's a bonus in my book!
5- They are reloadable so you could add more money to your kids cards or yours.
6- They allow you to stay on budget when shopping or travelling.
7- Consumers are protected from fraud and loss in accordance with the Zero liability protections of the card network.
Who is it for?
Everybody! What's not to like when you receive one of these cards? And I have a great tip for parents. Some of you are nervous to give money to your child when they go on a day trip with the school or longer trips with their class. Give them a prepaid card before they leave to buy their food and their souvenirs and you'll have peace of mind!
Now let me share with you what I bought recently using my prepaid cards: