American Express has just entered the world of reloadable prepaid credit cards with the launch of the PASS card. PASS is a prepaid card designed for teenagers and young adults. While the card will be launched to the general public later this year, currently it is available to American Express card holders only.
PASS works similar to most prepaid cards. The card can be loaded online from a card members account. Once loaded, PASS can be used just about anywhere that takes American Express. It can also be used to withdrawal funds from an ATM or to make purchases online.
Parental Controls
The PASS card offers a variety of parental controls. For example, parents can turn off the card’s ability to access cash at ATMs. Parents can also suspend or activate the card, obtain e-mail alerts, or view transaction history.
PASS Rewards
American Express has set up a rewards program for the PASS card. The Rewards Mall is an online shopping portal that gives PASS Cardmembers access to discounts and special offers at hundreds of merchants when shopping online, as well as in stores. Sample offers include free shipping or a percentage off a purchase at merchants such as Target, Aeropostale and Best Buy.
PASS Fees
There is a monthly fee of $3.95, although it is waived through June 30, 2010. In addition, American Express charges $1.50 for ATM usage. There are no fees associated with using the card at retailers or online.
Purchase Protection
American Express offers a number of protections with the PASS prepaid card. For example, unlike cash, if PASS is lost or stolen, your money is safe – you’re not responsible for fraudulent purchases, and American Express will replace your funds free of charge. And if you accidentally break something you paid for with your Card, Amex will help you repair it, replace it, or reimburse you – up to 90 days from the date you bought it, up to $1,000 for each occurrence. And PASS offers roadside assistance, which means you won’t be stranded.
For more information, visit the American Express PASS website.