Does anyone know anything about these? Where is the money stored and is the card the same as a credit card or more like a debit card? Do they report to CRAs and will they help rebuild credit after BK? Some places won't rent a car on debit accounts tied to bank accounts.........help!
They are a rip off. They are like a debit card/secured credit card. You pay money to give it value and they also charge a service fee of $20. Then you can buy anything you want up to the stored value. They are a response to the gift cards that many retailers offer. And they won't report to CRA since they are meant as a throwaway card.
