Cashing a prepaid credit card?

[craigcd]

Hey

Does anyone know how to cash a prepaid mastercard? I recieved a $500.00 prepaid card from work and would rather have the cash than the card as i dont have any large retail-ish purchases to make.

I tried adding the card to my paypal and sending the money to myself but my companies head office is in the US and i cant add the correct address as it only lets me add Canadian addresses.

Any ideas?

[FraserB]

Sell it at a discount? Use it for stuff like gas or groceries?

[RickDaTuner]

open up a moneybookers account, load the funds into your account, then withdraw the funds back into your bank account.

Moneybookers is legit and good for this sort of thing. I used to use it to transfer money into my US bank account...

[craigcd]

Originally posted by RickDaTuner
open up a moneybookers account, load the funds into your account, then withdraw the funds back into your bank account.

Moneybookers is legit and good for this sort of thing. I used to use it to transfer money into my US bank account...

Thanks for the reply.

Just did a quick google search on moneybookers. Seems to be associated with alot of scams.... I guess pay pal is also though. Might be a option.

[Xtrema]

Don't you have living expenses? That's like 3 weeks of grocery for me. May be 2. I won't eveN bother to cash it, you will lose something on the conversion.

[RickDaTuner]

Originally posted by craigcd


Thanks for the reply.

Just did a quick google search on moneybookers. Seems to be associated with alot of scams.... I guess pay pal is also though. Might be a option.

The company itself is legit, what people do with said company can sometimes not be.

My brokerage accepts transfers to and from here, pokerstars also accepts it as a form of payment as well

[JDMsomething]

Ill give you 450 cash for it?!

[craigcd]

Originally posted by JDMsomething
Ill give you 450 cash for it?!

PM'ed you

[Cos]

Why dont you just use it for your bills? Then save the cash off your paycheque as the cash you would prefer?

Seems easy to me. I use CC for EVERYTHING in my life.

[craigcd]

Originally posted by Cos
Why dont you just use it for your bills? Then save the cash off your paycheque as the cash you would prefer?

Seems easy to me. I use CC for EVERYTHING in my life.

They charge a transaction fee everytime you use the card so i figured I would try to use it up in 1 shot. Figured cash would just be easier and I can use it wherever needed.

[ga16i]

Originally posted by craigcd


I tried adding the card to my paypal and sending the money to myself but my companies head office is in the US and i cant add the correct address as it only lets me add Canadian addresses.

Any ideas?

I think that meant you were trying to do this with the PayPal interface, is that correct?

I ran into this a while back too, and what I ended up doing was writing a quick script to integrate PayPal with a basic HTML page, and donating the balance of the card to myself using a different email address than my PayPal email address, so it was just like any regular donation (even the most basic PayPal "integration" will allow credit cards as well as PayPal payments). It may get declined at first, because PayPal will take a small transaction as a test, but after the attempt shows up on your prepaid card (I check balance online), you can transfer the rest, and then if you really want when the initial PayPal test amount is returned, you can transfer that to PayPal too.

[Cos]

Originally posted by craigcd


They charge a transaction fee everytime you use the card so i figured I would try to use it up in 1 shot. Figured cash would just be easier and I can use it wherever needed.

Ah okay, another idea is to pay off your other CC with it? I found out last month you can pay one CC off with another CC when I accidentally paid the wrong one off.

I couldnt believe you can pay a CC off with another CC. No wonder people can so easily get into debt.

[Tik-Tok]

Originally posted by Cos


I couldnt believe you can pay a CC off with another CC. No wonder people can so easily get into debt.

Yeah, and the interest rate is the same as cash withdrawl, with is usually insanely high (18-20%).

So people in debt up to their eyeballs, keep paying off one CC with the other, and the good interest rate they had with their purchases disappears and goes to the higher one, along with any transfer fees (that most CC's have)

[craigcd]

Originally posted by Cos


Ah okay, another idea is to pay off your other CC with it? I found out last month you can pay one CC off with another CC when I accidentally paid the wrong one off.

I couldnt believe you can pay a CC off with another CC. No wonder people can so easily get into debt.

Hey that might work. How can I transfer the balance of this card to my actual credit card?

Thanks

[bbcustoms]

Can you not just pull the cash from the ATM off it? Just like pulling cash off a normal credit card.

[RickDaTuner]

Originally posted by bbcustoms
Can you not just pull the cash from the ATM off it? Just like pulling cash off a normal credit card.

That requires a pin, most if not all prepaid CC unless its a re loadable one wont have that.

[Tik-Tok]

Originally posted by craigcd


Hey that might work. How can I transfer the balance of this card to my actual credit card?

Thanks

Or, buy a $500 item, then return it the next day.

[craigcd]

Originally posted by bbcustoms


Can you not just pull the cash from the ATM off it? Just like pulling cash off a normal credit card

The card does have a PIN and i tried at the ATM with no luck.

Originally posted by Tik-Tok


Or, buy a $500 item, then return it the next day.

This crossed my mind.

[FraserB]

If its a gift card Mastercard there is no transaction fee with each use. If its a "Titanium" kind of one there might be.