This is my last post in the series about Prepaid Credit Cards and my experience with American Expresses new prepaid card.
I decided to come up with a few reasons why you would have use for a Prepaid Card. Here are a few I came up with:
Limit spending: When you know for a fact that you only have a set amount to spend and reinforce that by only having that amount on the card, you make smarter decisions and limit overspending.
Security: Early this summer I did an interview about disposal credit card numbers, they are mainly used for online purchases, and companies have started to discontinue the issuance of those numbers. A prepaid card is perfect for this. You do not have to worry about online purchases that might auto renew, you avoid over charges and possibly fraud
High School and College kids allowance: A prepaid card is perfect to give to a high school or college aged child for allowances. It helps them develop discipline and avoid overspending.
These are just three of the uses for a prepaid card. I can think of a few more. With all pros, there is usually a con; In this case a con for prepaid cards is the fees. Make sure which ever prepaid card you use, you pay attention to the fees. American Expresses prepaid fees are in my opinion very affordable and certainly comparable.
Well, this concludes my series on my experience with American Expresses new prepaid card. I will definitely use my prepaid card again. Like this upcoming weekend when I travel to Chicago for a Bloggers Conference.
Disclosure: American Express provided me with the Initial funds to load on the card to share my experience with you guys. My opinions are my own.
Andrea is the Chief Chick of Smart Money Chicks. After filing BK twice (once because she panicked, second time because the pro messed the first time up), she realized that it all could have been avoided if she understood more about how her Finances worked and the options available. At that point, she wanted to help as many as she could never make the same mistakes again. Our Promise is that all the content you read on here is created or edited by Andrea