Avoid prepaid card dormancy fees
ClearPoint's McClary warns that if you don't use your card, you can even be charged for that.
Dormancy fees can be triggered as early as 90 days or as late as 12 months from the last activity for lack of use, he says.
According to the Consumer Financial Protection Bureau, or CFPB, you may pay your card's regular monthly fee whether you use the card or not. In addition to, or instead of, a regular monthly fee, you may be charged a fee if you don't use your card for a certain period of time.
"To avoid these inactivity fees, be sure you're using the card frequently and resetting that clock before it runs out," McClary says. "Check the fee disclosure terms, and you will see exactly how and when this fee is applied."
Katz says that another kind of inactivity fee may be charged if you don't load your card every month.