We have a Visa and a MasterCard Credit Card and a Visa Debit Card, and we also have a Visa Spend Card. The Spend Card, like our Visa Credit Card is issued by our Credit Union. The Spend card is very similar to a Credit Card, but we have to Pre-Load it with cash (like a gift card…) other than having to pre-load the card, it is different as only we can put cash in it… Meaning if I buy an item and I want to return it and the vendor will only return the payment in kind, as in refund the card, it is not going to happen.
eBay will not accept this card as payment since they cannot return a payment to it… But it works great for incidental purchases like gasoline, Slurpees, etc… It even has the chip for “Tap 'n GO”
But as a side note, the Spend Card is just like Cash and I’ve given one to most of the Grandkids with a weekly allowance for various expenses… They can spend the money as fast as it comes in or they can save it for a rainy day or special purchase. Once the money is given, it’s theirs and I do not question how it is spent. If the amount gets over $100, I reduce the balance to a reasonable amount so if the card is lost or stolen they do not lose everything. If they need the cash back, a simple phone call, text, or email gets it re-loaded right away. Like I wrote, it’s their to spend as they see fit. But as a benefit, it offers them at an early age the opportunity to use “Plastic Money” and control it…
As the old joke goes, “I can’t be out of Money, I still have checks left…”
Back on Point… We write checks for all of our recurring bills, electric, water, sewer, internet (phone), taxes, insurance, etc… DMV accepts the Spend Card for registrations, license renewals, etc…
We have had a couple of occasions over the years as we moved around the county (while I served in the Air Force…) of various businesses (both the phone company and the electric company…) charging our credit cards even after we stopped service and moved…
Once, when we moved from a rented house onto the base in base housing, the electric company continued to charge our credit card. We went to the old address and the new occupants showed us the bill and it was in their name. It took months to get that straight, even though the credit card company stopped charging us, the power company continued to bill us and even threaten to destroy our credit for non-payment…
We do miss out on some benefits where the business might offer a discount for Auto-Pay with a Card, but “Once Burnt, Twice Burnt, Thrice Shy…”
And when it’s time to pay the bills; we pull out the check book and we feel like Oprah at her Christmas Giveaway…