Retirement Income

Fri, 31 May, 2019Joanita Wibowo

Why you shouldn't throw away empty prepaid cards

Why you shouldn't throw away empty prepaid cards

You may come into possession of a prepaid debit card through many different ways – perhaps you purchased it to keep your transactions secure and under control, or maybe it had been gifted to you. No matter how you use it, you might want to keep the card even after the balance is completely spent.

Many people often would simply choose to declutter their wallet and throw out the card as soon as it is emptied out of instinct. However, it might be worth hanging onto – even when it’s used up, there are some reasons why keeping it may be beneficial or even necessary. Here are some situations where a used-up card may come in handy.

When you need a “dummy”

Many free trial programs require you to give out credit card details, so that you can be charged once the try-out period expires. Instead of putting reminders, you can avoid these unwanted charges by putting in the info of your empty prepaid card.

When you need to get a refund

Looking to get something returned to the store? If you are eligible for a refund or rebate, it often goes directly onto the card. The merchant might not be able to process it otherwise, as many banks have a matched refund policy to prevent fraudulent transactions. So if the card you used to purchase has been thrown away, you may have little luck re-accessing your money.