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Joined: 10/22/2010
Msg: 1
Visa Prepaid Credit CardsPage 1 of 1    

Did you know that when paying a telecommunications bill, using a 50.00 prepaid Visa card; Visa only allows you to use 35.00 of that towards the telecommunications bill? (and puts 15.00 of it on hold)

They do this so that merchants cant use more than the 50.00 off of the 50.00 card.

Does that make any sense to....anyone? (at all?)

Talk about ridiculous

Just an"other" example of complete stupidity inserting itself into corporate policys.

Vanilla Mastercard doesnt do that btw; they actually make sense
Joined: 3/21/2012
Msg: 2
Visa Prepaid Credit Cards
Posted: 4/11/2012 7:41:58 PM
UGH I loathe Vanilla Mastercard!!! My sweet sister sent me a $500 pre-paid card for Christmas, so YAY!

I spent all but 9 or 10$ and left it in my purse a few months....I went to spend the end of it, and they'd taken $2.50 a month for "administrative costs" til there was nothing left. AND she paid a fee when she purchased it in the first place!! what a RIP OFF!!!
Joined: 10/22/2010
Msg: 3
Visa Prepaid Credit Cards
Posted: 4/11/2012 7:51:07 PM
All credit cards a ripoff apparently.

I remember when I went to a bank to talk about credit when Iw as young. The nice man told me I could lend the bank 500.00, and use as much of that 500.00 as I wanted. How it works is that I get to pay them back the money, which I lent them and used now n then; and pay it back in full to them, with interest.

It made perfect sense to me.

I chose not to do the credit thing.
Joined: 12/3/2007
Msg: 4
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Visa Prepaid Credit Cards
Posted: 4/11/2012 9:09:24 PM

All credit cards a ripoff apparently

Credit cards are absolutely fantastic if you know how to use them properly.

For example, it makes no sense to pay revolving credit with a prepaid card. When creditors such as phone companies obtain your card information they tend to place any updated charges or even future charges that way as well. They often attempt to "pre-authorize" your card for a higher amount so that they're covered for the most up to date usage and that puts you over your limit. Pay at the pump gas stations do the same thing. And since it's not a credit card or debit card, you have more liability. So essentially Visa is saving you from incurring insuficient fund fees and interminable hassle.
Joined: 6/29/2009
Msg: 5
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Visa Prepaid Credit Cards
Posted: 4/12/2012 12:23:06 AM
Gift cards are not actually credit cards. They are not cash, either.

You might think that giving money to a company in advance, that someone else will take merchandise for later, is a free ride for that company. You are wrong.

The company that you have a gift certificate or card from, has to monitor that amount of money as an outstanding debt of sorts that they have to you. That monitoring and accounting costs THEM money. For you, that left over ten bucks on a gift card is cash that they have in the till, that you have simply not yet taken home the toy it represents yet. To them, you are using up space in their premises, rent free, for them to hold your merchandise. That, or you are asking them to wait indefinitely, reporting that ten bucks as an outstanding balance to their own creditors and tax people, until you are willing to come in and "spend " it.

They aren't ripping you off. If anything, by holding onto a gift card for any length of time, you are ripping them off.
 Molly Maude
Joined: 9/11/2008
Msg: 6
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Visa Prepaid Credit Cards
Posted: 4/12/2012 1:00:34 AM
there was a financial expert on a talk show recently who was explaining how Americans have collectively LOST billions of dollars by getting gift cards, putting them somewhere safe and forgetting to use them ... the merchant holding the gift card is actually using that money while he has custody of it ... it's not sitting in a neat stack on a shelf in a bank vault ... when you factor in the "forgetting to use it" element ... it's a good deal for the merchant ...

anyway, that's the way I understood it ...
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