What are the lowest fee Prepaid Credit Cards in Canada?

r2edline wrote: ↑ I'm on the lookout for some prepaid credit cards, and I'm curious what others are using out there and what might be the cheapest options? The fees seem to range wildly depending on what/where you're buying it

Ideally looking for something I can buy at the store, doesn't have to be re-loadable necessarily.

Thanks in advance!

Kiraly wrote: ↑ Anything you get at the grocery store is going to come with activation fees ($4-$10), and anything reloadable from the grocery store is going to have monthly fees (~$5) on top of that.

+1 for Stack. There's also Koho which is similar. No fees to get, keep, or spend with.

That said, I have drained the balances of all of my prepaid cards and put them all away in a drawer. In this economic climate I don't trust any of these companies to not go bankrupt and take any balance on the card with them. Remember that balances on these cards are not protected by CDIC or provincial deposit insurance.

fightbriz wrote: ↑ How are Stack and Koho different?

Do both Stack and Koho only give you a single credit card number that never changes? It's not like a VCC where you can generate one, delete it, generate another right? Or even have 5 active numbers at a time right?

What is the absolute cheapest prepaid card, not percentage wise, but the absolute lowest activation fee and lowest load amount? (other than stack and koho that is)

Also, any promos for stack and koho now? Should i wait for a better promo? (i remember stack gave 1 year Netflix previously)

905P4N6 wrote: ↑ KOHO is a VISA product.
Stack is a MASTERCARD product.

they are both re-loadable credit cards with the spending limit set to the amount you have loaded on them.

fightbriz wrote: ↑ But they only offer you a single credit card number right? Like you can't create multiple cc numbers right?

faken wrote: ↑ can someone give me a few reasons why I should keep my stack card?

Shaner wrote: ↑ It's free
You don't benefit in any way by closing it as opposed to stashing it in a drawer
No FX fees
They offer discounts on various items regularly (although small, they're still discounts)
If you don't fully trust something you're signing up for, use a pre-paid card like Stack so there's no risk (leave only a few dollars on it).

kailjm wrote: ↑ KOHO is partnered with Peoples Trust. If KOHO goes down, Peoples Trust (which is CDIC insured) returns the funds. https://help.koho.ca/en/articles/298669 ... ic-insured

I still understand being wary though. I love KOHO and use Stack as well. I use Koho for targeted spending; if I'm going out for food, drinks, or purchasing something. I'm not totally set on having my payroll deposited onto it, and I'm lucky that Scotiabank gave me their top chequing package for free.

I love the cashback feature. I use Stack for subscriptions (Spotify, Amazon, etc) and my own credit card for things like gas and phone bill.