Disclosure: We get a commission for links on the blog. You don’t have to use our links, but we’re very grateful when you do. American Express, Chase, and Citi are Million Mile Secrets advertising partners. Here’s our Advertiser Disclosure.
A reader shared with me in confidence that American Express had a prepaid card at Target which can be funded with a credit card for virtually no fees ($3 for $1,000 in funding).
I don’t usually like keeping secrets on the blog, but I prefer keeping my word. Note that confidentiality has to be negotiated in advance, so you can’t just send me an email with what you consider a secret and ask me to not publish it!
However, Frequent Miler recently wrote about the American Express prepaid card, so it isn’t a secret anymore. I’ll share my experiments with the card once I finish writing about the other prepaid cards which I’m experimenting with.
You can buy and fund the American Express Target prepaid card with either a credit card (useful for meeting minimum spending requirements) or with gift cards bought using a credit card which has a high category bonus.
For example, the Hilton American Express card offers 6X Hilton points for purchases at drug stores, grocery stores or at gas pumps. Or the Chase Ink Bold or Ink Plus which offer 5X Ultimate Rewards points for purchases at office supply stores such as Office Max, Office Depot, and Staples.
You then use the Target American Express prepaid card for your regular spending or to withdraw money at an ATM.
The big catch is that the card is hard to find in Target stores and is available in only certain states!
The Target American Express card could be potentially better for many folks than American Express Bluebird. That’s because you can fund the card with a credit card at a Target store which are usually easier to find than Vanilla Reloads at Office Depots or at Walgreen’s.
However, there isn’t an option to pay bills, but this card is still useful to increase the amount you can spend on a credit card.
If you liked this post, why don’t you join the 7,000+ readers who have signed-up to receive free blog posts via email (only 1 email per day!) or in a RSS reader …because then you’ll never miss another prepaid card update!