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MyCardex Ceased Operations 9/30/14. If you have prepaid Mastercards (Miller Lite is one), please read

thinkbeforeyouspeak 3,692 6,560 October 4, 2014 at 07:08 AM in Other (2)
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I didn't see this posted (and I did post in the discussions thread), please delete or move if necessary.

Hubby won a Miller Lite contest and received his prepaid Mastercard. All of a sudden it stopped working.

Found this [cardex.com]on the cardex website.

We regret to inform you that, after nearly 20 years in business, Card Express Inc. ceased operations on Sep 30, 2014.

Pursuant to MasterCard rules please contact Sunrise Banks, N.A., 605-231-4597, regarding your MasterCard prepaid cards.

We apologize for the inconvenience and encourage your patience while the bank works through the arduous process of validating all claims.

We wish to extent our sincerest gratitude for your support and loyalty over the past two decades. Thank you.

10 Comments

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#2
well that's crappy.
hubby just got one a few weeks ago.
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#3
This is exactly why I try to burn through prepaid cards ASAP that I receive.

Uverse gave me roughly $350 in prepaid cards....and I applied it towards anything and everything I could the moment I received it. They pray that you forget you have it....and sometimes the dang cards go under, just like above. I hate that!
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#4
Quote from blacksoxing View Post :
This is exactly why I try to burn through prepaid cards ASAP that I receive.

Uverse gave me roughly $350 in prepaid cards....and I applied it towards anything and everything I could the moment I received it. They pray that you forget you have it....and sometimes the dang cards go under, just like above. I hate that!

Bingo. I "cash out" these cards as soon as possible after receiving them.
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#5
I'll have to remind my wife to use up the one she recently got. Not sure who it came from.
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#6
I guess that explains why I can't use my damn card...
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#7
For me it's totally worth the 1.75% hit to just dump these cards into my paypal account with Paypal Here the moment I get one.

Keep in mind that companies are using these pre-paid cards rather than checks more and more because it's a revenue stream for them.

Want to take the money out as cash? You can't, or there's a charge to do so. Profit for them.
Lost the card and didn't register it? Sorry, it's gone. But they'll write it off - profit.
Card gets too old before you use the value? They'll charge you a monthly fee until the stored value is gone. Profit.
Forget about it in the back of a drawer? After so many years, it's invalidated & the company gets that money back. Profit.

I personally hate the dang things, so when I get one it's dumped into paypal immediately and then I never worry about it again.
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#8
Well that sucks. I recently got one of these and was planning on using it today. It's a good thing I checked online first before using it.
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#9
Cash them out by buying an amazon gift card. You can make it in any arbitrary amount and send it to yourself. No fees.
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#10
I just received this in the mail.
I hope you can read it. This is the first time I've done this.
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#11
Lesson learned for the OP hopefully.

The EASIEST way (IMO) to get rid of these cards is to buy an amazon GC with them and email it to yourself and then apply it to your account.
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