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  1. #1
    Join Date
    Oct 2005

    Visa/Mastercard prepaid cards PLS BE AWARE

    It cost me $23.18 to learn this lesson :o

    You all get it free! LOL :)

    Be careful with a prepaid card. :confused:

    Sometimes companies preauthorized a higher amount to make sure the balance is available for future shipment. (One example company: Juve)


    This also occurs when you prepay at the gas pump using a card. When you want to fill up but do not know the exact amount the attendent authorizes an estimated amount for your card. When you are done fueling and check out they charge the exact amount purchased.

    On a debit or credit card this preauthorization temporarily holds those funds for a couple days when the transaction does not post to your bank (debit or credit) the bank releases those funds back to your available balance. All is good.....

    EXCEPT.... :eek:

    when it is a prepaid card they do not refund the 1st amount that was preauthorized. Prepaid meaning there is no bank to post the transaction to. And you lose that money. So be careful how you use prepaid cards and stay on top of balances!

    Of course this doesn't always happen.. although, pls believe me it does happen.

  2. #2
    Join Date
    Mar 2006

    Re: Visa/Mastercard prepaid cards PLS BE AWARE

    great advice

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