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Pre-paid debit cards on Black Friday


Lvnlakers78

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I've never seen a prepaid card with fees. If you know what store you're going to, get one there if they have promotions. Like Kmart has one going if you get a card and put money on it for xmas, they give a discount on your purchases , like 3%. Also keep in mind most debit cards have a daily limit, usually about 750 if you're wanting something big ticket, you have to call the bank in advance to lift the limit for that day.
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So I have my BF money but its in our checking account. We are awful at using money that we shouldnt so I was thinking of putting it on a pre-paid card. Has anyone used these are there any that wont have a bunch of fees? Or does anyone have any other ideas?

 

TIA!

Just use cash? It's the most widely accepted form of payment...

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I think you are reffering to the amex/MC etc gift cards that you put money on and they charge you a few bucks? I would call up your bank and ask them about getting a debit card for the acct. Otherwise, budget, budget, budget and use cash. I'm actually using a CC and I am going to pay it off when I get home with my checking acct. Like I said though, budgeting is the key here.
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I know that WalMart has one...You buy it for around $3 & can add cash to it for free I believe and if you cash your check there it is $3 & they can put it on their for free. Where as a lot of the ones like the prepaide Visa's, MasterCards, you can't reload it, these you can, and you can follow the amount you have on there online. After a month or two there is a $3 service fee each month.
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So I have my BF money but its in our checking account. We are awful at using money that we shouldnt so I was thinking of putting it on a pre-paid card...does anyone have any other ideas?

 

TIA!

I think you would do best to be less awful at handling your money. I suggest you create a shopping list with gifts, merrchants, and cost. Work that out in the quiet of your home. If you shop only to the list, you will not blow your budget no matter how you hold your money.

 

With that discipline in your corner, you should look for ways to hold your money that benefit YOU rather than the banks. There are many cards that give you cash back and have no annual fee. Using one of these is a big win for you since you can 'hold' your money in an interest bearing account until the bill comes in PLUS you get the cash back. Discover Card will give you more cash back (up to 2x) if you take in in gift cards from their partners and will give you as much as 20% back if you shop via their partners launch page.

 

If you can land a free financing balance transfer, you can earn interest on your cash for a year while paying the credit card no interest.

 

On one episode of Two and One Half Men the men are going to Vegas. Alan puts 1/3 of his cash in his wallet, 1/3 in a money belt, and 1/3 in his boot. You could go that way, too...

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What about opening a small checking account? Put your Christmas cash in that account. Most will usually give you a debit/credit card. TCF in Illinois never charges a fee - I'm pretty sure where ever you are, you can either find a bank or a credit union to open an account.

 

After Christmas either close the account or use it as a savings or perhaps as a limit account for vacations/birthday presents.

 

The bank may even give you a gift for opening the account. The banks in the Chicago area will usually give you $50 to $100.00 to open an account.

 

 

Prepaid cards are kinda scary because they are hard to replace if you lose them. Plus things can get messed up if you are returning items.

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I used to buy the AmEX gift cards every friday, then come Christmas I had plenty ready to go, not anymore. I got royally screwed at Hollister's when I took 2 pairs of jeans back and they wound up putting the credit back on them, the only problem is they are non reloadable. so I lost, both companies said each other was responsible. Now I only but store specific gift cards

 

Mike

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What about opening a small checking account? Put your Christmas cash in that account. Most will usually give you a debit/credit card. TCF in Illinois never charges a fee - I'm pretty sure where ever you are, you can either find a bank or a credit union to open an account.

 

After Christmas either close the account or use it as a savings or perhaps as a limit account for vacations/birthday presents.

 

The bank may even give you a gift for opening the account. The banks in the Chicago area will usually give you $50 to $100.00 to open an account.

 

 

Prepaid cards are kinda scary because they are hard to replace if you lose them. Plus things can get messed up if you are returning items.

Great idea! Some banks have a minimum number of months you can have an account open for, so check on that.

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