How to Transfer Money From Credit Card to a Prepaid Card
Prepaid cards are useful alternatives for things like ordering online, going on vacation, or setting up a spending budget for yourself or someone in your household. Many people stray away from the idea of a prepaid credit card because they do not know how to transfer money onto one from their existing credit card account. Many credit card companies now offer prepaid cards. Also, there are prepaid cards available at many local convenience stores, as well as, your larger retail stores for people who do not have a credit card account.
Features to Look for in a Prepaid Card
- Reloadable - Can you add more funds to the card once all the funds have been used.
- Liability Protection - Will it protect your balance if your card is lost or stolen.
- Expiration Dates - Most do not expire, but some do charge monthly maintenance fees and should only be used short-term.
- Low Fees - Do they charge activation fees, fees for using an ATM, etc. Just make sure you review the fees before adding funds to your prepaid card.
Credit Card to Prepaid Card
You will first want to contact your credit card company to check if there are any fees associated with transferring your money from the credit card to a prepaid card. Some companies charge a fee for the transfer, for the amount of transfer, or for the amount of time the funds are on the prepaid card. Just make sure that the prepaid card is a good match for you.
Once you found a credit card company that matches your needs you can either call their customer service number or you can visit their website. You can complete the process either way, so just decide what would be easier for you.
VISA account now paperwork
Before you transfer your funds online be sure that the website is a reputable one that uses a secure connection. Make sure you read all of the terms and conditions carefully before completing the application process.
You will be asked to enter your credit card number along with your personal information. If you are completing this process over the telephone you will need to enter this information through your telephone keypad. Once all of the information is completed you new prepaid card will be ready for use.
Checking your Prepaid Balance
Once you have completed the process of transferring funds to your prepaid card you should always do a balance check. Some companies may place a temporary hold on the funds that you are unaware of. This can be embarrassing when trying to make a purchase with insufficient funds.
You should always check your balance frequently, even if your prepaid card has not been used for awhile. Some companies charge fees for the amount of time you have the prepaid card, or even for the amount of funds that are still on the card. There may be certain balance limits you are expected to maintain in order to avoid these fees. A list of all the fees should be made available to you under the terms and conditions of the card.
Brief Comparision of Credit Cards and Prepaid Cards
Reports Activity to Credit Bureus
Helps Protect Identy Theft
Limits Amount of Total Purchases
Charges Interest on Purchases
Do you or have you used a prepaid card in addition to your credit card?See results without voting
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