If you are a user of prepaid visa/master gift cards or you want to be a user of it then you should definitely need to know about the seven facts of prepaid visa or gift cards. The facts of the card include:
Retailers want you to use that card:
If you have suspected, retailers would keep the whole value as they don’t want you to use the cards. Board Chairman of the retail gift card association and vice president of sales for Regal Entertainment Group, Timm Walsh said: “The truth of the matter is we prefer they be spent”. “When you get a gift card, you tend to think of it as free money, and you splurge a little bit,” said Walsh.
It’s more common to store gift cards on phone:
According to Timm Walsh, a lot of gift cards are being redeemed through mobile technology. It is easier to store the cards on your mobile than your purse, and mobile is such a thing that is always with us. There are a lot of apps that allow you to store only the front picture of the gift cards. It also stores the transaction report.
Gift cards can be stolen:
Using a gift card is a very handy and simple way for transactions and as easy to spend as money according to the users of prepaid visas or master gift cards. But at the same time, some consumers face a few problems using the cards. According to them, cards are the same as cash cause if the cards got stolen then they would lose it permanently. If you want to register your gift card you can call the toll free number or visit the website of the back of the card.
Choose a prepaid visa according to your preferences:
There are many varieties of prepaid cards. You can pay your bills in several ways such as online, automatic monthly payment, via electronic check, or using a PIN in the ATM. You can choose a way that suits you.
You don’t have to pay interest but fees:
You won’t pay interest for your prepaid visa or master gift cards but you will have to pay fees. From setup to reloading you have to pay fees on your prepaid cards. If you want some special benefits you need to pay more fees.
You can save your money with the help of your prepaid cards:
A prepaid card helps you to manage your budget even if you have a regular bank account. When you want to purchase anything, load a budget onto your prepaid card. When there will be no money in your card, you automatically stop spending your money.
You have to treat them gently:
You can see There are magnetic stripes on your cards which can be damaged if you carry it with other rough things in your pocket or purse. Some cards are made of plastic or thin cardboard. So you should keep them safely in another envelope.