Whether you received one as a gift or chose as an alternative to a credit or debit card, a prepaid Visa opens doors to easy and convenient spending. However, did you know you can stretch your card’s value even further by adopting some savvy strategies? From earning cashback on online purchases to paying bills, with clever planning, your prepaid Visa can go further than you imagined.
However, with great power comes great responsibility, and it’s important to make the most of the funds loaded onto the card without going overboard. Ready to maximize your prepaid card’s spending power? Then, in this guide are simple tricks to help your dollar go further. You can enjoy every cent loaded onto your Visa with a few taps and clicks.
1. Use it for Online Shopping (with Cashback Opportunities)
A prepaid Visa allows you to shop online like a credit or debit card. Many major online retailers accept Visa as a form of payment.
However, did you know some retailers offer cashback when using certain prepaid cards? For example, the iChoose prepaid Visa allows you to earn cashback on purchases from popular stores
2. Take Advantage of Mobile Wallets
Mobile wallets have become popular as an easy payment method in recent years. These digital wallets allow you to load various payment cards, including prepaid Visas, to pay for items using your smartphone.
Stores with contactless payment ability simply require a quick tap of your phone to the payment terminal. This saves fumbling around for your physical cards. Many prepaid Visa cards are compatible with popular global mobile wallets.
Adding your prepaid Visa to a mobile wallet provides an extra layer of security when shopping online or in stores. Unlike physically flashing your card, a mobile wallet requires authentication with your fingerprint or device passcode before approving payments.
Loading specific spending limits to each virtual card in your mobile wallet provides another way to budget responsibly with your prepaid Visa funds. Mobile wallets have become quite convenient, so check if your prepaid card works with this digital payment option.
3. Set Spending Limits to Avoid Fees
An advantage of prepaid Visa cards is avoiding overdrafts and late fees that can accompany credit cards. However, fees still apply if you attempt to spend more than what’s loaded onto the card.
Set spending limits well below your available balance to protect your funds and dodge these charges. Most prepaid Visa providers allow customizing maximum daily spend amounts online or through a mobile app.
For example, limiting an ATM withdrawal to $100 from your $500 balance prevents accidentally draining the account if a glitch occurs. Also, watch out for small recurring subscription charges that can slowly deplete your balance unnoticed if proper limits aren’t set.
Never lose track of your card’s activity and remaining funds. Review transaction histories and set responsible limits to get the most benefit from each dollar loaded onto your prepaid Visa. Proper limits provide both security and confidence when using the card.
4. Use it For Bill Payments
In addition to shopping, your prepaid Visa allows convenient payment of typical monthly expenses. Many utility and service providers accept Visa cards for online bill payment. Cable, cell phone and streaming subscriptions often allow autopay to be set up using a debit or prepaid card. This relieves the stress of paying multiple bills individually each month.
Other regular costs like medical copayments, gym memberships or parking permits frequently offer the option to load funds monthly to a services-branded prepaid card. Your existing Visa prepaid card can replace these single-use cards and provide a centralized way to sock away money for recurring expenses.
Some bills may even have discounted autopay rates through a prepaid card versus paying by check. Do your research to identify if any expenses you pay routinely can conveniently utilize funds on your multipurpose prepaid Visa.
5. Shop for Gift Cards at Discounted Prices
An unusual but valuable use of a prepaid Visa is purchasing gift cards at discounted prices. Websites exist where individuals resell gift cards they received but don’t need at a rate lower than the cards’ face values.
Major retailers consistently have gift cards on these resale sites. When using a prepaid Visa to shop for discounted gift cards, you get more spending power from each dollar loaded onto the card.
For instance, a $100 retail gift card may be listed for only $85 when paying with a prepaid Visa. Not only have you saved $15 immediately, but that $100 gift card balance can now be used for full-priced purchases on the retailer’s site, multiplying the savings benefit.
Be sure to thoroughly research these gift card resale websites to ensure they are reputable and protect your prepaid Visa information well. With a small effort, this offers a smart way to inflation-proof your prepaid Visa balance and stretch its spending potential.
Conclusion
A prepaid Visa provides many financial advantages over just spending your money. With the help of suggested effective approaches such as getting money back from transactions, using digital wallets, and developing innovative ways to purchase gift cards, one can fully exploit the value of every loaded dollar.
Implementing a few tactics is all you need to significantly improve your prepaid card usage experience.
Thank you,
Glenda, Charlie and David Cates
