Anybody use prepaid credit cards?

[theogt]

What bank?

I use US Bank and someone hit my account with 3 charges for some video editing software (the same exact purchase 3 times) that totaled about $100.

I called US Bank and told them, they returned the amount pending an investigation and everything worked out. Of course, had they determined I made those purchases they would have taken the money back.

As to the point earning system you're talking about......it reminds me of an article I read a while back.

People were buying thousands upon thousands of dollars in dollar coins from the US Mint. The coins ship free and when they got them they would deposit into their account and pay the amount off. Some people were going through hundreds of thousands of coins, racking up airline miles and basically taking free trips to anywhere in the world.

The rules are now changed, I think you can only get 1K in coins every 10 days.

As for prepaid, I know a guy who uses one to deposit and withdrawal money from his bookey.

It depends on how long you take to report it. There are federal regulations. If you spot it within a certain time frame, they're legally required to refund your money during the investigation. If not, you're SOL, unless they choose to just be nice from a customer service standpoint. In this instance, the person had stolen my PIN, so they were obviously skeptical that it was me. In other instances (i.e., where I caught the fraudulent charge immediately), the bank refunded my account immediately.

 

[VietCowboy]

I have a credit card with AMEX (6% Groceries and 3% gas), Citi Forward card (gives me 5% Amazon, movies, restaurants), Discover (5% random stuff), 2 new Southwest cards I opened up for internship interviews this year (4 free flight vouchers and $820ish in SW flights).

I pay it off several times a month, especially for cards I use the most (AMEX and Citi Forward). The others I have to be automatically paid off.

CC don't make any money off of me, in fact, I make tons of money off of them because of the cashback.

I always redeem for Staples gift cards because when I accrue $75 in Staples gift card, I buy a $25 off $100 voucher to Staples, and then go and buy FAR (Free after Rebate), basically converting that gift card back into cash. I get $100 worth of things for free, and if they are school supplies, donate it to the elementary school I work with. I've donated tons of reems of paper, pencils, etc.

My thinking is, if I'm going to buy something, why not get cashback for it anyway. I'm willing to put in the work to make it worthwhile.