I don’t treat myself often so when I receive a prepaid card as a gift, I make sure that I use it as a fun gift and not for necessities. Sure, I could use it for groceries but where’s the fun in that?! One of the many perks of a prepaid card versus a store gift card is that you can use the prepaid card in multiple locations both online and in-store. You aren’t limited to spending your entire card at one store. You know what that means? A mini shopping spree where you can treat yourself to a few items on your wish list!
What is an Open Loop Prepaid Card?
Although they look just like a traditional credit and debit card, the biggest difference is that they access a set amount of funds that have been pre-loaded on the card. You can still use them anywhere on the card network (American Express, MasterCard and Visa) for both online and in-store purchases. Having them pre-loaded with a set amount of funds means you stay on budget!
They make an excellent gift because the recipient can decide exactly what they want to use the money for. These aren’t just for gifts though! Let’s say you’re going on a vacation and you want to set yourself a shopping budget. You can pre-load a specific amount onto your prepaid card and that can be your “shopping” card used to make all your fun purchases so you don’t go over budget.
I know a few people that refuse to use credit cards online for purchases because they are worried about someone stealing their card information. This is another place where prepaid cards can help ease your mind. These cards do not require credit or require the recipient to have a bank account. The funds are loaded directly onto the card and this card isn’t linked to your bank accounts at all.
Open loop prepaid cards are issued by financial institutions and prepaid issuers comply with all applicable laws and regulations with respect to compliance and consumer protections. Consumers are protected from fraud and loss in accordance with the Zero Liability protections of the card network.
Prepaid Cards Are Reloadable
Unlike store gift cards, prepaid cards are reloadable. If you find this a convenient way to stay on budget, you can reload it and use it again and again. You don’t have to worry about dipping into your overdraft or paying interest fees when using a prepaid card.
Want to learn more about prepaid cards? Visit the Canadian Prepaid Providers Organization (CPPO).
How I’m Using My Prepaid Card!
Like I mentioned earlier, I don’t treat myself often but I plan on taking a girls trip this year though so I treated myself to a couple of gifts before Christmas – a pair of Sparkle Ball Stud Earrings from Hillberg & Berk plus some sparkly Caparros heels from DSW. Before I leave for my trip, I’m going to treat myself to a few items to make sure I’m vacation-ready. My prepaid card will help me stay on budget so that I have plenty of money left for shopping, meals and all the fun that goes along with a girls weekend getaway!
I never go on a vacation without getting a pedicure first so that will be my first stop! To keep my feet looking great for the entire trip, I use the Footlogix Extra Cracked Heel Mousse Formula and OPI Nail Lacquer in Charged Up Cherry. While browsing on Amazon for these products, I found a Black Lace Clutch that will go perfectly with my outfit plus it’s within my set prepaid gift card budget! My prepaid gift card can be used both at the spa (for my pedicure) and then for my online purchases as well!
$100 Prepaid Card Giveaway!
Now it’s your chance to win a $100 prepaid card for yourself or someone special! Entering is easy – simply follow the steps in the Rafflecopter entry form below.
Giveaway Rules & Restrictions:
- This giveaway is open to Canadian (excluding Quebec) residents only who are at least 18 years of age. Giveaways are void where prohibited by law.
- Winner will be chosen randomly. Winning entries will be verified prior to contacting the winner.
- Odds of winning depend on number of entrants.
- The giveaway ends February 21st, 2016 at 11:59pm. A winner will be drawn randomly within 24 hours of the end of the giveaway. The winner will be notified, by email, and will have 48 hours to claim the prize & answer a skill testing question. If I do not receive a response from the winner within 48 hours, a prize forfeit will be assumed and a new winner will be chosen randomly.
- I reserve the right to disqualify any entries. I reserve the right to end, extend, or change a giveaway for any reason and without prior notice.
- By entering giveaways, you verify that you understand and meet the prize eligibility requirements.
- Please note that Moms & Munchkins is not responsible for sponsors that do not fulfill their prize. I will not be responsible for lost or damaged items. Replacement items will not be provided. We have represented each sponsor with the expectation that they will fulfill their prize in a timely manner. While we are not responsible, we will make every effort to assist the winner in obtaining their prize.
- Please wait 4 weeks for fulfillment of prize. Winners have 8 weeks to report non-fulfillment of prizes.
- Once the winner claims the prize, his/her name will be posted on the giveaway page. Your name, full mailing address and email address will be sent to the prize sponsor so they can contact you to award your prize.
*Disclosure: I was compensated for this post; however, all opinions expressed here are my own. I am part of the Amazon affiliate program and I may earn a small commission through the Amazon links in this post.