**My wife posted this on another forum and asked me to post it here: Can anyone see benefits in obtaining this card? I travel extensively both domestically and abroad for business. I am rebuilding my credit and have a National City Visa and Franklin Templeton Master Card (investment account) that I use for car rentals and hotels. I ran across this card, however, I had their secured Optima a few years ago, and they decided to cancel it - leaving cardholders who had less than perfect credit and used the card for business - high and dry. They ran a hard pull each month on my credit, however, that card had no provision for migrating to the green or gold American Express card. I'm a member of AARP and this card was advertised on their website: http://www10.americanexpress.com/sif/cda/page/0,1641,18740,00.asp (It looks like maybe its just traveler's checks in card form - with extra fees and usage restrictions)
It's pretty much a plastic, reusable traveler's cheque and AMEX is trying to capitalize on their name as a worldwide travel provider. You'll notice that the service fees for the card are refunded temporarily...that's because many people have some kind of access to fee free traveler's cheques through their bank, credit union, AAA etc. Why pay a bunch of fees for a card with lots of restrictions when you can just write out the TC and get the cash from almost any hotel, bank, big merchant etc? The one thing the TF Card does have going is that you can recharge it before (or during) your next trip so you don't need to hit the credit union again for more TCs. If she wants a prepaid card, either get a regular secured card or maybe a Simon Mall gift card. They only cost $1.50 and you walk out of the mall with it in your hand!
