Originally posted by: dullard
Originally posted by: Hummin
1.) Debit cards, whether a MC/VISA or bank debit, work differently than a credit card, which is what you describe. Any debit card just deducts the charge from the balance, no matter the source.....bank account, MC balance, or whatever.
False. I could give you hundreds of links. But for starters lets use the link already in this thread:
here. "Because a pay-at-the-pump transaction involves a pre-authorization of at least $21, it is not recommended that you use your card at the pump." Same goes for restaurants that add tips. With cash, this is not a problem.
2.) Such is life in taking money out of an ATM that's not your own bank's ATM. Of course, there is an alternative and that is go to somewhere like Wal-Mart, buy something smallish and take cash back. No fee, no problem.
With prepaid cards, there typically is no "your own bank"; typically all ATMs will charge a fee. With cash, there is no fee. Many cards have rules against getting cash back at places like Wal-Mart like you suggest.
4.) You may be surprised that almost every store will take two forms of payment....I've done it at convenience stores, BB, CC, food establishments, auto and bike parts stores...never been refused.
I've been refused dozens of times trying to spend the last few cents on one of those stupid cards.
Mastercard FAQ:"Note that this process, known as split tender, may not be supported by all merchants."
5.) There's an 800-number on the reverse of the card you can call to check balance FOR FREE.
Not if you need to dispute anything and need it in writing. Not if you need it for a receipt for work reimbursement. Not if you need it for tax deductions. Etc.
8.) Again, MC/VISA cards don't.
Mastercard FAQ:"You can make purchases on your prepaid card until the value of the card has been depleted, or
until the expiration date shown on the card." Hmm, what was that about no expiration?
9)
MasterCard charges a purchase fee on all cards.Why give someone $100 on a card when after fees they get ~$95? Instead give them $100 cash where they get $100 worth of goods.
10) Returns are limited. Suppose the person you gave the gift card to spent the card to the last penny. Will he/she keep it? Probably not. But then he/she needs to return the purchase. The store will put a credit on the card that he/she no longer has. No problem; it'll be just another fee to get a new card mailed. Or what if you return the item after your card expires? What happens? I have no clue; but it probably isn't in your favor.
You have not pointed out a single way that these cards are better than cash. The facts are simple, cash is superior in every possible way. You could be inconvenienced with those cards, you could pay fees, you could have overages without actually going over, etc.
This website sums up many of my points. Purchase fees, expirations, ATM charges, reissue fees, monthly fees, all for Visa and Mastercard prepaid cards.
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