Originally Posted by StartALawnCareBusiness
I was at Walmart last week and saw a display for prepaid credit cards at the checkout.
Has anyone used those? I believe you top them up with money and then you can use them just like a regular credit card.
They might be a good idea for new business owners to help keep their business expenses separate from personal purchase. Also, if you only keep $100, or so, in the card it will help keep you on your budget.
Also, would it be a good idea to give employees so they can use them for fuel purchases?
I am not sure if there is a cost to these or if there is a transaction fee.
Let me know what you think.
There are two types available over here
The first option is for people who cant get a credit card
1 is a Prepaid Prezzy Card (Visa) its not rechargeable
You buy a certain value i.e $25 and pay a additional fee of $5 regardless of how much is loaded
Its normally available from outlets which supply postal services
Pros are It can be used most outlets or online which accept Visa
Cons are Always ask or check with merchant first some wont accept them because the cards don't identify the person making the transaction by name
TradeMe and my ISP don't accept them
I used mine on PayPal to pay an account and now there is a problem because I have setup an account as Prezzy Card no one else can use it
If I need to top up Paypal I just buy a new card and top up
In anticipation of later issues I opened a separate PayPal account in my own name which I have linked to my bank account
if you are going to take them check with your bank if they accept them
2 Some banks have an option called a debit card which allows you to use your eftpos card as a credit card
Under this system I understand your credit is limited to the amount in your account
Hope this helps