Prepaid Credit Cards is a comparison website, find, compare and choose some of the best prepaid credit cards in the UK using our free guide.
Prepaid cards are extremely popular in America and out sell bank accounts.This is now growing in the UK due to the cash back, reward programs and offers you get with a pre paid credit card.
A prepaid MasterCard can offer you loads of advantages such as you can monitor and control your spending and use as an alternative for travel money, Prepaid MasterCards or travel money cards as they are called offer a safer alternative to taking travel money on holiday.
The 10 Top Pre Paid credit cards can be found in the right hand corner of our website also prepaid cards broken down by benefits, charges, by Prepaid MasterCard or Prepaid Visa Card and by getting a free prepaid credit card with No initial load making it a free pre-paid credit card.
Cash Cards that have become a popular choice is the Orange Cash card due to its rewards program, Clearcash creditbuilding card, Cashplus gold card and Secure Trust Bank which offers a guaranteed bank account with a prepaid debit card.
The number of cards and benefits availability varies depending on you buying a Visa card or a prepaid MasterCard. One of the best ways is to compare what is prepaid types are available and looking at dedicated comparison websites such as ours could save you money.
There are now a number of prepaid cards available in the market place. Most have an application fee of up to £10, but some are free, and there is generally no monthly fee or charge to be paid.
Cash cards can be topped up in any number of ways including a pre agreed direct debit per month, by visiting the Post Office or other Bank, via an ATM or over the phone or on the internet. It is also possible to have your employer
pay part of your wages directly into your account. Also, like traditional credit cards, it is possible to have more than one account user so the same balance can be accessed via family or friends.
The concept behind a prepaid credit card is that there is no pre-agreed credit limit against which you charge your spending. Instead, you acquire a card and deposit a sum of money onto the card so that it is a fixed balance until you use the card then it will diminish the account balance. So, as you spend money on the card, the balance reduces to nothing. If the card is stolen or lost, the maximum amount that is stolen is the unused balance available on the card and no more. Therefore, by charging the card with relatively small amounts, the risk due to fraud or misuse is significantly reduced. These are perfect cards for consumers that are bankrupt, going in to bankruptcy or just have a bad credit rating these cards allow you to make payments even if you suffer from bad credit.
There is a charge levied for topping up the card and this ranges from nothing at an ATM to a small transaction fee at a bank counter.
The real costs are incurred when you use the card, a percentage (or fixed amount dependent on the transaction size) is charged per transaction. These vary by issuer and range from £1 fixed to 3% of the actual transaction amount.
Same goes for drawing cash from an ATM, a charge is levied ranging from 50 pence to 3% dependent upon brand.
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