Control your spending with a prepaid card.
Having a conventional credit card has its advantages, but staying in control of the amount of debt you incur can often be tricky. There is a great solution available which allows you to have all the benefits of a credit card, without having to worry about all the normal baggage that comes with them.
Introducing the Load&Go Reloadable Visa prepaid card
Use the Load&Go card as you would with a normal credit card. For example, making retail purchases, or booking concert tickets online. The difference is that you top-up the card with whatever you can afford and it will only allow you to spend what is actually available on the card.
What fees and charges are applicable for this card?
There are no reloading fees or monthly fees associated with the Load&Go Reloadable Visa Prepaid Card, but there are a number of other charges you should know of.
- On sign-up, the card purchase price is $6.95, although when applying for this product for the first time a mandatory initial load of $20 is also required, bringing the total initial price to $26.95. After this, the card can be reloaded as often is as needed provided it is over a minimum of $20, and under the maximum balance of $999.
- When a transaction is made or cash is withdrawn there is a fee of $0.09, and this is capped at $0.99 per calendar month. If the card is lost , cancelled or reissued there is a $15 fee.
- There's also a fee of 3% of the transaction for any transactions made outside of Australia.
- To manage the balance of the card via telephone or SMS there are also fees. This is $4.00 via the call centre, $0.50 via the automated voice recognition service and $0.25 charged per SMS.
- If a transaction is disputed on this card a fee of $20 is payable if the transaction is found to be authorised.
- Finally, a new card is issued to cardholders on expiry provided your details are registered with Australia Post. If the card expires and is not registered, a $1 daily fee will be charged until claimed.
How do I apply for a Load&Go Reloadable Visa card?
Getting hold of one of these prepaid credit cards is made very simple too. All you have to do is to go into any participating Australia Post outlet, buy a starter pack, and once you have followed the steps to activate your card, you could be ready to spend within 24 hours!
Then when you want to top up your card all you need to do is buy a reload card from Australia Post. These are available in the sums of $50, $100, $250, or $500 making keeping track of your spending couldn't be easier.
With spiraling costs, having one of these cards makes so much sense. It takes away all the worry of debt, rising interest rates, and takes away the temptation to overspend. You can never go over you limit as once the money has gone, you cannot spend any more until you reload.