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Prepaid Visa

3709 Views 4 Replies 4 Participants Last post by  Teen Trader, 
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I got a prepaid visa as a gift and it listed a $4.95 "purchase fee" and description says it applies at the time of purchase.

What exactly meant by "purchase" ?

  • The purchase of the prepaid visa, hence it's already been paid and it doesnt apply to me


  • Applies everytime I make a single purchase so it cost $4.95 + item cost

I'm incline to think it's the first point, but I can be wrong. Opinions? or if any of you guys have experience with prepaid visa?
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FrugalTrader
CuriousReader, the activiation or purchase fee is the charge for purchasing the card as a gift. Basically if I were to buy you a $50 prepaid visa, I would have to pay $55. There is no extra charge for using the card unless you hold it for a long period of time (greater than 6 months for mastercard).

Here is my recent post about comparing prepaid visa/mastercards in Canada.
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