Here’s a really nice way to get $10! Right now American Express is offering their Prepaid Card (Note: this is not a credit card) with a special bonus just for signing up.
We think this is a good idea because…. We personally use opportunities like this to stretch our budget even further! It is like using cash, but in this case, also getting $10 for FREE to spend as well! We ourselves by using the monthly budget set aside for each category this month and by doing so means you can get a bunch of $10 gift cards for free 🙂
- Buying one with your grocery budget and using it on your groceries like cash
- Buying one with your gas budget and use it on your gas like cash
- Buying one with your clothing budget and use it on your clothing like cash
- We also use it to pay our bills online as well (see the note below)
I think you get the idea of how this could be of real benefit to your budget.
We went through the process ourselves this week and think it was pretty painless. Now, they do ask for your social security number and other private information to ensure you are the person signing up for the card, but they do not check your credit or conduct any qualifications for the card. Again, it looks like its only to ensure you are who you say you are.
Another nice thing on this card is that we don’t see any fees directly related to activation or normal usages of the card. It does look like there are a couple of non-normal ways to reload money on the card that requires fees, but normal (at least what we consider normal) refilling of the card either via your bank account or direct deposit look like they are without fees.
This could be a really nice way to safely carry a card without fear of massive problems if it is lost or stolen. What I mean is that because its not tied to a bank account or have a massive credit line, if someone where to steal (or even find) your card they don’t have access to any funds other than the ones you have put on the card. Obviously you can call and request a hold placed on the card to protect the funds, but this will give you an extra layer of comfort that the thief won’t have access to all your funds. And as you can get up to three cards, you can get one for a teenager to give them funds in case of emergency while at the same time not worrying about a stolen or lost card.
Finally, you also get the American express benefits without needing a credit card, including:
- 24 hours a day customer service – Its always nice to reach a real person when you have a question no matter what time it is
- Purchase protection – If an item you purchase is accidentally damaged or stolen, their Protection can reimburse you for up to 90 days after date of purchase
- Discounts and more – You have access to the special discounts that American Express offers their members
- Roadside Assistance – Don’t go to crazy about this, its not 100% like a full roadide protection plan. You call the number and they will arrange for you to be protected at the side of the road (truly a nice benefit), but the card holder is responsible for the actual fees.
- and More! – Make sure to check out all the other benefits for an American Express Prepaid card holder.
Note: We will use gift cards frequently for paying bills online. We often will use the “full balance” of the gift card as a partial payment for phone bill which allows you to use the full card. This is great whether you receive gift cards as a gift or even in return for something such as donating plasma!
So, whether you want to get the card to get access to all the benefits or are just looking to try it with a desire to get that FREE $10 bonus, you can click HERE to sign up for the American Express Prepaid Card. Note that you must initially transfer at least $50 to the card to get the $10 gift card.