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Prepaid and Preloaded cards
Posted by Mary from Miami, FL, US on January 7, 2008

What is the difference between a Prepaid gift card and a Preloaded reward card?

A prepaid Gift Card is one that can be used just like cash at the retailer indicated on the card. Generally, the cards do not expire, but their specific terms and conditions will be sent with the card. A prepaid reward card (from American Express®, VISA, MasterCard or Discover) can be used virtually anywhere such cards are accepted and will indicate an expiration date on the face of the card. While some American Express cards may be used virtually wherever the American Express card is welcomed, some cards may be directed to a specific list of participating retail establishments. Such establishments are clearly outlined within the terms and conditions that accompany the card.