American Express Prepaid Cards – Part Two: this is third post in the American Express Prepaid cards series. This post covers adding funds, fees, and how to maximize your miles and points earning ability using the American Express Prepaid Card.
Use the links below to read the entire series on American Express Prepaid Cards. (Links will be active after all posts are published.)
Part 1 of this series – Comparing American Express Prepaid Cards.
Part 2 of this series – the American Express Prepaid Card – Part One
Part 3 of this series – the American Express Prepaid Card – Part Two
Part 4 of this series – the American Express Bluebird Card
Part 5 of this series – the American Express for Target Card
Adding Funds to the American Express Prepaid Card:
You can load funds through a variety of methods:
1) Bank Deposit
You can transfer money from your bank account to fund your card. Simply log into your account and process the transfer or schedule in advance. Funds will be available within 5 business days.
2) Moneypak via Cash
3) Direct Deposit
Complete the Direct Deposit form and submit to your employer. Deposit all or part of your paycheck. A maximum of $5,000 a month is permitted.
The following Direct Deposits from the U.S. Government are not permitted:
- payroll check if you work for the U.S. Government
- Social Security
- civil service retirement
- VA compensation/pension
- worker’s compensation
- Federal Tax refunds
4) Vanilla Reload
Maximize your miles and points buying Vanilla Reloads:
A gift card loaded with $500 will yield 2,524 Ultimate Rewards Points ($500+4.95 x 5).
Note: Readers and other bloggers are reporting that Office Depot is removing the variable ($20 – $500) gift cards from stores. However, I have not yet found this to be the case in my area.
Use the gift card to purchase Vanilla Reload/s.
A Vanilla Reload card loaded with $500 will yield 3,023 Hilton HHonors Points ($500+3.95 x 6).
Note: The 6x Hilton HHonors Points are only valid for American Express Hilton HHonors cards issued before January 16, 2013. It’s also been reported that the drugstore benefit will be eliminated in May 2013.
Thanks to reader Chris – note to self: writing posts at 0′ dark thirty is not a good idea least you forget crucial things like the Chase Freedom card…
4) Purchase Vanilla Reload/s from any participating retailer using a miles and points credit card to meet minimum spending requirements.
Maximum Load Amounts:
You can load up to $5,000 a month when funding via Direct Deposit.
Fees For Using the American Express Prepaid Card:
There are no fees to use the American Express Prepaid card except for ATM fees.
The first ATM withdraw each month is free. Each subsequent withdraw is $2 (ATM operator may charge a fee).
A maximum of $400 can be withdrawn per day.
Getting the Most Miles and Points By Using the American Express Prepaid Card:
Note: Repeated loads and ATM withdrawals could get your card taken away so you may want to mix in a bit of regular spend.
Note: Links to prepaid and credit cards are provided as a courtesy. No financial compensation is received.
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