Prepaid Debit Cards Vs. Prepaidgiftbalance Cards: Similarities And Differences
Cards are pieces of plastics, but they can be highly useful in making payments. When it comes to cards, they are of various types like credit cards, debit cards, and gift cards. These cards have varying features and can be used in different ways. When it comes to gifting, prepaid cards and gift cards take the front stand for many. It is easy to gift cards to people by adding a certain amount to them. These cards can be used to make quick payments at various stores, both offline and online. Two of the most popular cards are; gift cards and prepaidgiftbalance cards.
About gift cards
These cards are one of the most popular retail shopping options, as retail brands and sites give them. Many credit card companies sell gift cards of this type. These gift cards are short-time use cards, and thus, can be gifted to people easily. These cards are loaded with a certain amount of money. Once the money is spent, the card is rendered useless and needs to be disposed of. Also, these cards’ expiration time limit is shorter, and they cannot be used again. One of the things that make these cards a tad bit inconvenient is that they can be closed-looped at times. This means they are sometimes meant to be used, at a certain store only and nowhere else.
About prepaid cards
These cards are sold by most of the credit card companies. Now, the thing about these cards is that one can reload these cards after the limit is over. These cards are bought with a certain limit, and as the limit is over, one can top them up. These cards are more like prepaid debit cards, as they have an expiration date and a serial number. These cards can be used repeatedly, not only for making payments but also for withdrawing cash. Prepaid cards can also be used at various places like physical stores and online stores. They are usually not counted among close looped cards. However, one may find that these cards do come with a monthly fee, but this is not the same for all the card sellers. Also, one can check the prepaidgiftbalance of these cards easily.
Difference between gift cards and prepaid cards
When it comes to gift cards and prepaid balance cards, they are similar in many things. But, there are also many things which stand to be different from each other, like:
- Reloading: the gift cards cannot be reloaded, whereas the prepaid balance cards can be reloaded.
- Network: the prepaid balance cards are usually managed and sold by networks like MasterCard and Visa, unlike gift cards sold by any brand.
- Pre-set amount: the amount is usually set in the gift cards, but that is not the case with prepaid cards as one can change the denomination as per their choice.
- Monthly fees: the prepaid gift balance cards can be used for a longer period and, that is why monthly fees are common, but the same is not applicable for gift cards.
- Acceptance: the gift cards can have limited acceptance across merchants, but the prepaid cards can be used at various payment points.
Both gift cards and prepaid cards can be useful. Not only can they be used for making payments, but they are useful as a gift option when one is completely out of ideas.