Prepaid Credit Cards Used Or Accepted In Philippines?

[Dave Hounddriver]

1 hour ago, Gas said:

A debit card is not a credit card. With a credit card you are borrowing money to be paid at a later date.

Yes but the topic is

On 2/26/2017 at 8:27 PM, Old55 said:

prepaid credit cards

and a prepaid credit card IS a debit card that is backed by one of the credit card major players like Visa or Mastercard.  At least that is what it is here and you use it as either a debit card OR a credit card depending on where you are using it.

[Jollygoodfellow]

42 minutes ago, Dave Hounddriver said:

and a prepaid credit card IS a debit card that is backed by one of the credit card major players like Visa or Mastercard.  At least that is what it is here and you use it as either a debit card OR a credit card depending on where you are using it.

I think you are confusing the cards. A pre paid card is something you get from banks and other services. For example you get a card and load it with P5000 peso. A debit card removes money from your own account where a pre paid card is only as good as the amount loaded to it. 

[Dave Hounddriver]

17 minutes ago, Jollygoodfellow said:

A pre paid card is something you get from banks and other services. For example you get a card and load it with P5000 peso. A debit card removes money from your own account where a pre paid card is only as good as the amount loaded to it

I think you are confusing Australia with da Phils.  Here your 'prepaid' Mastercard is just a debit card that links your bank account to Mastercard so whatever cash you have in your bank account is your 'prepaid' amount.  I've had one here for years and used it for years.  Works great.

 

Here's da link https://www.psbank.com.ph/content/personal-banking/other-products-and-services/psbank-prepaid-mastercard?AspxAutoDetectCookieSupport=1

[Jollygoodfellow]

3 minutes ago, Dave Hounddriver said:

Here your 'prepaid' Mastercard is just a debit card that links your bank account to Mastercard so whatever cash you have in your bank account is your 'prepaid' amount.  

So it's actually a debit card in real terms. A pre paid card is normally not attached to any account. 

[SNAFU]

Could be a matter of semantics? To me a true pre-paid card = a "gift" type card. MasterCard/VISA/Amex etc. all offer them, purchase and load the balance you desire. NOT tied to any of your accounts. As Old55 says, they would be a great way to limit your loss and inconvenience if they are lost/stolen. We gave/received them once in awhile in the States as gifts, but no experience with them in the PI. I don't see why they wouldn't work, but then again...you just never know, ha!

[Dave Hounddriver]

42 minutes ago, SNAFU said:

Could be a matter of semantics?

Could be.  I'm only familiar with the one type here in Phils but Mr Google shows a comparison chart of many different types in this link

http://socialcompare.com/en/comparison/prepaid-credit-card-ph-35rh0vas

 

[AlwaysRt]

56 minutes ago, SNAFU said:

Could be a matter of semantics? To me a true pre-paid card = a "gift" type card. MasterCard/VISA/Amex etc. all offer them, purchase and load the balance you desire. NOT tied to any of your accounts. As Old55 says, they would be a great way to limit your loss and inconvenience if they are lost/stolen. We gave/received them once in awhile in the States as gifts, but no experience with them in the PI. I don't see why they wouldn't work, but then again...you just never know, ha!

Pedicab - Trike, Brownout - Blackout, Potato - .... 

[not so old china hand]

16 hours ago, Sander Martin said:

As long as the card had money on it, it was welcomed in every ATM or shop that accepted Mastercard. It worked evey single time i used it.

Were you able to use it for hotel bookings or buying airline tickets?

As another poster pointed out hotels don't like debit cards because there is a double transaction in case of a cancellation. With a credit card (or charge card eg AMEX) the card operator "reserves" the deposit by reducing the available credit on the card. Thus the hotel is guaranteed payment without having to handle receivable or payable transactions until the guest settles their bill. 

[Old55]

The prepaid cards are like a gift card in a way, they are cash via a credit card provider cover. That is to say Visa or whatever will hold the money and verify the "owner" then transfer the money same as a CC.

 

[Jollygoodfellow]

5 hours ago, Old55 said:

The prepaid cards are like a gift card in a way, they are cash via a credit card provider cover. That is to say Visa or whatever will hold the money and verify the "owner" then transfer the money same as a CC.

 

Yes this is the type of card that your are referring to, https://www.travelex.com/cash-passport