Regarding the American Express Prepaid card I wrote about this morning: a reader who goes by Kroozer notified me that you are limited to loading a total of $2500 per month to the card. I’ve updated the original post with this information, but also decided to post here in case anyone was planning to do more.
Even though this limit may be inconvenient, I think it’s great in that it will help keep people in-check with this deal. Note too that $2500 with 5X earnings is still amazing: $2500 X 5 X 12 months = 150,000 points per year!
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@Jason (Post #22): You have summarized my feelings EXACTLY……..
dan: I agree, but at the same time it can’t hurt to be over cautious
Lawrence: Yes, I believe that if you call Amex they’ll freeze the account and issue you a new card. I haven’t tried it though. Look through the Amex/prepaid site to see what they say.
What is the security on these cards? Say I lose my regular Amex card. I call up and they freeze the account and issue me a new card with a new number. What happens here?
I do question everyone’s reaction to Chase and getting their accounts closed. The whole point of this card is to spend a lot of money AT office depot/staples/Office Max. What if the Chase Ink Bold gave 5x rewards for US Mint purchases when the mint was around. Would people be running scared and not purchase coins?
I am just not sure where all of this is coming from?
jason, dont worry, many here are not stupid to get SHUT DOWN by chase. they will do this sometimes not every week or day!
I don’t know why you wrote about this. This isn’t new and will just ruin the deal for everyone without a doubt. Nice way to kill a good thing. If people couldn’t figure this out on their own that’s their own problem but now you shared it with everyone and will ruin it.
Tom: look at the picture in the earlier post– it shows what the reload cards look like. As long as you use the Amex for regular purchases there should be no fear of financial review.
another question please. my wife and i both have amex prepaid card we got from amex site with our name on it.
is there a SAFER trick I can play here? let’s say I load $500 to my amex prepaid card and another $500 to wife’s amex prepaid card. that way less chance of GETTING FINANCIALLY REVIEWD by amex? we have only one INK BOLD which is in my name.
ok, so all i do is just buy any amex gift cards at office store to load to my amex prepaid card?
or it has to say VANILA AMEX CARD ?
I have bunch of visa gift cards, can’t load these right?
thanks
Can u find a PPM for us that don’t have chase ink bold?
Daniel P: I’ll try! But you will have to put up with quite a few Ink posts in the meantime. The deals are just too good…
Tom: if your name is on the card, then it’s the permanent card.
i am confused, what is amex temporary prepaid card and what is amex permanent prepaid card?
i have one amex prepaid i got from amex website 2 months ago. there was a deal where if you fund $25 to the amex prepaid card, amex was supposed to give me $25 bonus.
I am not sure whether the prepaid card i got is the temporary or permanent ?
any link for the permanent prepaid amex card?
Filabuster, how do you know? Not that I doubt you, but I’m curious if this is insider knowledge or web gossip or what?
Anita
It wont take three weeks. They are already “investigating” this issue. They are “taking it seriously.”
I predict that within 3 weeks of this post someone will post about Chase shutting down their ink bold for abusing the system.
Mark the date and time of this prediction;)