Maximizing Prepaid and Reloadable Cards for Points and Miles: Reloadable Strengths and Weaknesses
Update: You can no longer purchase Vanilla Reload cards using a credit card and Vanilla Reloads are no longer available in Office Depot.
This week TPG contributor Jason Steele took us through the basics of Maximizing Prepaid and Reload Cards for Points and Miles with a series including Maximizing Reload Cards for Points and Miles: Vanilla vs. Green Dot vs. PayPal vs. REloadit and Maximizing Prepaid / Reloadable and Reload Cards For Points And Miles - Choosing Which Credit Card To Use.Today he continues with a comparison of the major prepaid/reloadable cards out there that you can use in conjunction with these reloads to earn the most miles and points possible and discusses the strengths and weaknesses of each based on his own experiences using them.
VANILLA RELOADS
How many cards are there: I am aware of six different cards compatible with Vanilla reloads.
What are the most popular compatible prepaid cards available to the general public: MyVanilla, Mio, netSpend, Momentum, the American Express Prepaid Card, and Bluebird.
Which is my favorite: Bluebird is the clear leader because the card is free, reloading it with up to $500 costs $3.95 and it has a lot of features that make it a versatile product.
Strengths: Bluebird bill pay is quick, easy, and free, you can use it as a debit/checking alternative to transfer money to other cardholders as well as to issue checks to pretty much anyone else. There is no monthly fee for this card, and American Express seems to have no issues with cardholders using the card to the limits of its stated terms.
Weaknesses: There is a $1,000 daily load limit and $5,000 limit per calendar month, and a total limit of $10,000.
My experiences: I was using the standard American Express Prepaid card before Bluebird was released. I was happy with the Amex Prepaid, but I had to visit ATMs and pay some fees to do so. I have had absolutely no issues loading Vanilla Reloads to Bluebird cards. You can only order one Bluebird card per person.
GREEN DOT COMPATIBLE CARDS
How many cards are there: I counted 188 different prepaid cards that are compatible with Green Dot. You can browse a list here. Many of these, such as the ADP Total Pay card are used by payroll services and are not available to the general public.
What are the most popular compatible prepaid cards available to the general public: 24/7 Card, AccountNow, American Express Prepaid Card, American Express Serve, Green Dot Prepaid cards, and Walmart Prepaid Visa Card.
Which is my favorite: The AccountNow Visa Card “Classic” seems to offer the best combination of flexibility and low fees.
Strengths: The “Classic” version of this card has a one-time activation fee of $4.95 that is applied at the first load. After that, loads from Green Dot or the REloadit network carry no charges. ATM withdrawals are $2.50 each, but there is a bill pay system that makes ATM use unnecessary.
Weaknesses: Their bill pay interface is a little clunky to log into, but once there it appears to have the same functionality and back end as bill pay web sites in use at other banks and credit unions. There is a $1 fee for each purchase, so don’t leave home with this card. Also, stay away from their “Gold” Card as it has a $9.95 monthly fee. The deposit limit is $1,500.00 per day, $9,500.00 in a 30-day period.
My experiences: I initially ordered a Gold card that claimed to waive the monthly fee if I loaded $2,500 a month. I loaded nearly $3,000 with REloadit cards, but nevertheless, I was still charged a $9.95 monthly fee. Their telephone representative claimed that I actually had to load the $2,500 using direct deposit to avoid this fee, even though their posted terms clearly contradicted that assertion. I attempted to speak with a supervisor about this fee, but I was hung up on and charged an additional $1.00 for speaking with a telephone representative. The Gold card’s terms have now changed and no longer list such a waiver.
PAYPAL LOAD MONEY COMPATIBLE CARDS
How many cards are there: Just one – the PayPal Prepaid MasterCard and by extension, an online PayPal account that you link.
Strengths: This card can also be loaded through the REloadadit, Green Dot, and possibly Vanilla reloads. Vanilla reload cards feature the NetSpend logo and the PayPal website mentions compatibility with NetSpend. In theory, one could transfer funds from their PayPal account directly to their bank account, though this could raise some red flags and get your account frozen.
Weaknesses: No ATM access or online bill pay, although the standard PayPal debit offers ATM access for $1 per transaction plus the amount charged by the ATM owner. Then, there is the fact that PayPal will shut down the accounts of those who they feel are abusing their system.
My experiences: I haven’t read many reports of PayPal freezing accounts of those who use it to meet their credit cards’ minimum spending requirements. After TPG’s experience of getting a warning after funding his PayPal account then transferring the funds to his bank account, I decided to stay clear of this technique.
RELOADIT
How many cards are there: There are 15 different cards that will accept money from REloadit prepaid cards.
What are the most popular compatible prepaid cards available to the general public: AccountNow, Paypal, NetSpend prepaid debit cards. In addition, the PayPower card is usually sold where REloadit cards are sold.
Which is my favorite: Within the REloadit network as well, the AccountNow “Classic” card offers the best combination of low fees, bill pay, and compatibility across different networks. NetSpend cards appear to have many of these strengths, but there are numerous reports of accounts being frozen after exceeding arbitrary limits of loading and withdrawal.
What have been your experiences with these prepaid, reloadable debit cards? Any that work better than others, or have features that you find useful? Share your experiences below!
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TPG featured card
Rewards
| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 3X | Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com. |
| 2X | Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com. |
| 1X | Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. |
Intro offer
Annual Fee
Recommended Credit
Why We Chose It
There’s a lot to love about the Amex Gold. It’s a fan favorite thanks to its fantastic bonus-earning rates at restaurants worldwide and at U.S. supermarkets. If you’re hitting the skies soon, you’ll also earn bonus Membership Rewards points on travel. Paired with up to $120 in Uber Cash annually (for U.S. Uber rides or Uber Eats orders, card must be added to Uber app and you can redeem with any Amex card), up to $120 in annual dining statement credits to be used with eligible partners, an up to $84 Dunkin’ credit each year at U.S. Dunkin Donuts and an up to $100 Resy credit annually, there’s no reason that foodies shouldn’t add the Amex Gold to their wallet. These benefits alone are worth more than $400, which offsets the $325 annual fee on the Amex Gold card. Enrollment is required for select benefits. (Partner offer)Pros
- 4 points per dollar spent on dining at restaurants worldwide and U.S. supermarkets (on the first $50,000 in purchases per calendar year; then 1 point per dollar spent thereafter and $25,000 in purchases per calendar year; then 1 point per dollar spent thereafter, respectively)
- 3 points per dollar spent on flights booked directly with the airline or with amextravel.com
- Packed with credits foodies will enjoy
- Solid welcome bonus
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
- Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
- $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
- $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
- Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.
Rewards Rate
| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 3X | Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com. |
| 2X | Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com. |
| 1X | Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. |
Intro Offer
You may be eligible for as high as 100,000 Membership Rewards® Points after spending $6,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer.As High As 100,000 points. Find Out Your Offer.Annual Fee
$325Recommended Credit
Credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.Excellent to Good
Why We Chose It
There’s a lot to love about the Amex Gold. It’s a fan favorite thanks to its fantastic bonus-earning rates at restaurants worldwide and at U.S. supermarkets. If you’re hitting the skies soon, you’ll also earn bonus Membership Rewards points on travel. Paired with up to $120 in Uber Cash annually (for U.S. Uber rides or Uber Eats orders, card must be added to Uber app and you can redeem with any Amex card), up to $120 in annual dining statement credits to be used with eligible partners, an up to $84 Dunkin’ credit each year at U.S. Dunkin Donuts and an up to $100 Resy credit annually, there’s no reason that foodies shouldn’t add the Amex Gold to their wallet. These benefits alone are worth more than $400, which offsets the $325 annual fee on the Amex Gold card. Enrollment is required for select benefits. (Partner offer)Pros
- 4 points per dollar spent on dining at restaurants worldwide and U.S. supermarkets (on the first $50,000 in purchases per calendar year; then 1 point per dollar spent thereafter and $25,000 in purchases per calendar year; then 1 point per dollar spent thereafter, respectively)
- 3 points per dollar spent on flights booked directly with the airline or with amextravel.com
- Packed with credits foodies will enjoy
- Solid welcome bonus
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
- Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
- $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
- $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
- Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.