Credit Cards

Prepaid Credit Cards (Continuously Updated)

  • Last Updated:
  • Jun 17th, 2018 10:18 pm
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[OP]
Deal Addict
Apr 5, 2007
1261 posts
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Canada
EdisonL299 wrote:
Jan 2nd, 2018 11:34 pm
Did anyone try using the Vanilla Prepaid MCs outside Canada? Is it safe doing that? I am thinking this might be potentially replacing Rogers MC.
Yes, you can use it overseas. However, the foreign exchange fees may make it less attractive.
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Apr 24, 2017
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cahk wrote:
Jan 3rd, 2018 1:10 am
Yes, you can use it overseas. However, the foreign exchange fees may make it less attractive.
That's okay if you have Amex Cobalt. 5X MR = 2.5X SPG = 7.5% ~ 10% return. Minus 2.5% FX Fee, you will get 5% ~ 7.5% back. If you don't transfer to SPG, you will get 5% minimum, minus 2.5% FX Fee, that's 2.5% return.
Both scenarios are better than Rogers MC (4% - 2.5% fee = 1.5% return).
😎 "How do you like to pay?" "American Express!" 😄
Sr. Member
Jan 19, 2017
868 posts
262 upvotes
coolintheshade wrote:
Jan 3rd, 2018 12:56 am
And if you read what I wrote, you would understand what I am saying is this;
Buy non reloadable MC from 7-11, many times over and collect 4x or 5x rewards on each purchase of them.
Buy reloadable MC like you suggest, you get rewards on the one purchase only of the reloadable card, because you would just reload that card then, rather than buy more.
Understand now?
Do you know how to reload the prepaid card? I don't think you do because you have never done it before. You must be thinking that you can not use cc to reload.
You go back to any 7-11 store and buy a reload PIN using any cc and continue to earn points on your cc.
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Aug 24, 2016
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Where am I? That is …
ml88888888 wrote:
Jan 3rd, 2018 3:08 am
Do you know how to reload the prepaid card? I don't think you do because you have never done it before. You must be thinking that you can not use cc to reload.
You go back to any 7-11 store and buy a reload PIN using any cc and continue to earn points on your cc.
You’re right, I have never done it before,
Now why couldn’t you just mention all this in your last post?
I guess if the fees make sense, and you can load $500 plus on it with a credit card at 7-11, then your way could make more sense.
Although most times with relioadables, there are other fees like monthly maintenance fees on top of reload fees.
I’ll have to look into that.
Jr. Member
Oct 1, 2008
124 posts
59 upvotes
So today I bought one PayPower card from Food Basics and loaded with $500 and a MC Vanilla Prepaid $500 from 7-11. When I setup the Paypower online (registered with address), there is also a PIN setup. Do I use a PIN when I swipe the Paypower card? Example: Swipe Paypower at Costco til, then type in PIN number? First time buying gift cards with my new Cobalt card.
Sr. Member
Feb 17, 2017
542 posts
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Calgary
forexnut wrote:
Jan 3rd, 2018 7:04 pm
So today I bought one PayPower card from Food Basics and loaded with $500 and a MC Vanilla Prepaid $500 from 7-11. When I setup the Paypower online (registered with address), there is also a PIN setup. Do I use a PIN when I swipe the Paypower card? Example: Swipe Paypower at Costco til, then type in PIN number? First time buying gift cards with my new Cobalt card.
The PIN is just for ATMs, it's just swipe and sign (Or no signature at all at some merchants on low value payments) for everything else.
Jr. Member
Oct 1, 2008
124 posts
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CanadianSpruce wrote:
Jan 3rd, 2018 7:13 pm
The PIN is just for ATMs, it's just swipe and sign (Or no signature at all at some merchants on low value payments) for everything else.
Cool thanks!
Jr. Member
Oct 1, 2008
124 posts
59 upvotes
So after reading the Paypower card holder agreement, I'm still confused on the monthly fee of $4.95. Is this fee charged to my preloaded $500 (plus 6.95 activation charge) after a month if I still have unused balance? Or is this monthly fee only charged if you make the card reloadable? So effectively a reloadable card would cost 4.95 at the merchant reload plus 4.95 for the monthly fee (9.90 total)?
Newbie
Dec 2, 2017
33 posts
9 upvotes
forexnut wrote:
Jan 3rd, 2018 8:55 pm
Or is this monthly fee only charged if you make the card reloadable? So effectively a reloadable card would cost 4.95 at the merchant reload plus 4.95 for the monthly fee (9.90 total)?
yes
Sr. Member
Jan 19, 2017
868 posts
262 upvotes
EdisonL299 wrote:
Jan 3rd, 2018 11:54 pm
It seems they are very similar. So what are the advantages buying MyVanilla over OneVanilla?
The main difference is ATM withdrawl which you can use it to earn points on your cc purchases.
Jr. Member
Oct 1, 2008
124 posts
59 upvotes
Using a Prepaid MC at Costco. I have the Paypower and the OneVanilla both with 500 on them. Do I use them as a debit transaction or a regular credit transaction with swipe (no chip)?
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Apr 24, 2017
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forexnut wrote:
Jan 4th, 2018 11:49 am
Using a Prepaid MC at Costco. I have the Paypower and the OneVanilla both with 500 on them. Do I use them as a debit transaction or a regular credit transaction with swipe (no chip)?
It’s still treated as a credit card. It’s a regular credit transaction with swipe and signature.
😎 "How do you like to pay?" "American Express!" 😄
Sr. Member
Feb 17, 2017
542 posts
268 upvotes
Calgary
forexnut wrote:
Jan 4th, 2018 11:49 am
Using a Prepaid MC at Costco. I have the Paypower and the OneVanilla both with 500 on them. Do I use them as a debit transaction or a regular credit transaction with swipe (no chip)?
The best way think of Debit and Credit is really Interac (=Debit), Visa/MC/Amex (=Credit) regardless of what the card actually is. This throws off so many tourists in Canada who are using Visa/MC debit cards and get their card declined because they've said debit when they need to be saying credit even through its a debit card.

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