7.7.04 Wall Street Journal

Prepaid Plastic

The new travelfunds card from American Express is a prepaid system that allows travelers to place money on a card instead of carrying around cash, dealing with travelers checks or even worrying about credit cards. But the real perk of getting one now is that if you sign up for the TravelFunds card between July 1 and Sept. 30, you will receive a free companion airfare ticket for future travel.

The card costs $14.95 and can be purchased online at americanexpress.com/travelfundscard, by phone at 888-901-9107, or online at the Web sites of several airlines taking part in the promotion. After purchasing the card, the buyer will receive a form to fill out to redeem the companion airfare ticket. A toll-free number is provided for travelers to use to book their trip and free companion ticket with any of the partner airlines, including American Airlines, US Air, Continental Airlines or Delta Air Lines.

Travelers can initially place between $300 and $2,750 on the card and then reload it with between $100 and $2,750 every 14 days. The limit per person is four cards -- and four free companion tickets. Unlike a debit card, the TFC is not linked to a bank account, so if it is stolen, it can't be used to access bank funds. It can be used at ATMs and businesses around the world.