How to Refund a Prepaid Credit Card

Video Transcript

"Hi, I'm Maria Emomota from Consumer Credit Counseling Service and today we're going to learn how to refund a prepaid credit card. You have probably noticed that nowadays it's really common to give a prepaid credit cards or gift cards as a present. There's some kinds of cards that you can refund. Some of them, once you use it, the balance is zero, you can't use it any more. But there are some kind of card that are called prepaid credit cards that you can use it every time and you just refund it. Okay? Usually you will need to contact the bank that issued this card and see how you can refund it. Probably you can go to the closest location and give some cash and they will reload your card. This prepaid credit cards are really good nowadays especially if you want to buy on line. Because it's going to be protecting your money too. You just charge the card with the amount that you want to spend on whatever item you are buying on line and they will charge that amount. And then you don't have to reload it until you are going to do the next buying. It's also good if you want to have tracking of your expenses. Sometimes we use credit cards and the ones that have a really high limit and we use and we use it because we don't feel that we are paying for that until the end of the month. So that's also a good way to control our expenses. If we are under a budget and we know that we are going to be spending a particular amount of money for a certain thing, you can just upload that credit card with the amount that you want to spend. For example, groceries or gas and just use that amount of money for the period that you have assigned; one week, two weeks, one month."