Shocked by Optimum Prepaid Mastercard T&C


After reading today’s MSE weekly email I chanced upon the Optimum Prepaid Mastercard when looking at credit cards and thought this card would be a good card to use to register with Google/Amazon/Ebay etc. to limit fraud/over-spending… I was under the impression that Pre-paid cards were… Pre-paid, i.e. you load them and can only spend the balance?

After reading the T&C of this card I found the following statement:

“5.3 Your Card is a prepaid card, which means that the Available Balance will be reduced by the full amount of each

transaction and authorisation, plus any applicable taxes and charges, including additional ATM charges if any. You must not

use your Card if the Full Deductible Amount exceeds the Available Balance. If, for any reason, a transaction is processed for

an amount greater than the Available Balance on your Card, you must repay us the amount by which the Full Deductible

Amount exceeds your Available Balance immediately after receiving an invoice from us

Should you not repay this amount immediately after receiving an invoice from us we reserve the right to take all steps necessary, including legal action, to recover any monies outstanding.

I though the whole idea of these cards was to prevent this from happening! Has anyone experienced this i.e. over-spent on a Prepaid Mastercard?


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