American Express Prepaid Card $25 Bonus
In recent years, debit card transactions have soared as more and more consumers switched from traditional credit cards to debit cards after the financial crisis that started in late 2007, which eventually led to the recession. In addition to the fact that credit has become harder and harder to obtain since then, many people were also not happy about some practices credit card issuers employ to increase their revenues, such as high interest rates, arbitrary fees, etc. At the same time, prepaid debit cards gained popularity because, among many benefits, they are easy to use, safer than cash, usually accepted anywhere traditional credit cards are accepted.
But some prepaid cards have their own problems. Among them, as I mentioned in a post a while ago about some pitfalls of using prepaid debit cards, the biggest concern is high fees that some prepaid cards charge. Yes, you will enjoy the convenience of using prepaid cards, but you will also need pay a little extra for that convenience if you are not careful when selecting which prepaid card to get and use. For me, the rule of thumb is always got with the card, whether it’s a credit card or debit card, that doesn’t charge extra fees.
If you are in the market for a prepaid card, a new product from American Express may be of interest to you. AMEX recently launched its own American Express Prepaid Card which offers some exciting features regarding fees, including
- No monthly or annual fees
- No purchase fees
- No overdraft fees
While there’s no fee of using or not using the card, you will pay for a fee is you use the card to withdraw cash from ATM machines more than once in a month. According the terms, the first ATM withdrawal fee in each calender month will be waived. Subsequent withdrawals will result in a $2.00 fee for each withdrawal. This doesn’t include any fee charged by the bank that owns the ATM.
- Purchase protection: If an eligible item purchased with the card becomes damaged by accident or stolen, you may be eligible for reimbursement up to 90 days from the date of purchase.
- Roadside Assistance: You have access to precious roadside help if you experience car trouble.
- Global Assist Services: Get help from American Express’ Global Assist when you’re traveling more than 100 miles from home and need emergency assistance.
If this sounds like the prepaid card you want to have, you can get it without credit check. And for a limited time, you can receive a $25 complementary gift card if you load your new card $200 or more at the time of order. This promotional offer ends June 30, 2012.
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