Know About The Advantages Of Using Prepaid Credit Cards

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Prepaid Credit Cards – Know About The Advantages Of Using Prepaid Credit Cards

Prepaid Credit cards are basically prepaid cards that are reloaded with cash and they also hold foreign currency. It is the most convenient and successful way to access your money within your country and also abroad.

Prepaid Credit cards are a better alternative when it comes to making purchases or indulging in any other monetary transaction than cash. Cash is an outdated and unsafe mode of payment now. Imagine you digging into your pocket for thousand times after making any purchase at any shop. Add to that, you can anytime lose your cash or you can anytime get mugged if anyone sees you with a pocket full of cash. The best way is to opt for Prepaid Credit cards. You can get a Prepaid Credit card by opening an account in a bank, just like you open a savings account and they will issue you a Prepaid Credit card.

And the best part if you need not have to worry about your credit history, since no credit checks are done before issuing of Prepaid Credit cards. And the best part is that like credit cards, the card doesn’t have any credit or overdraft facilities. You pay as much as your balance available in the account to which your Prepaid Credit card is attached with. This means you are of no risk of running into debts at all. You can very well keep check of your finances and spend according to your budget. You can also get a detailed list of where, when and how your money got used.

Apart from that, Prepaid Credit cards best when it comes to traveling abroad. Withdrawal of cash from
ATMs and using of credit cards are costly, since you have to pay interest on them. But with Prepaid Credit cards, you save yourself from paying any hidden charges. Furthermore, the card is accepted everywhere around the world, So, you can make any purchase anywhere, or eat at the most fancy restaurant, and you just need to use your Prepaid Credit card. Forget the hassle of carrying cash altogether.

Furthermore, whenever you issue a Prepaid Credit card, you key in the value or rate of your foreign currency, so you need not have to worry about flouting exchange rates while traveling. And the best part is the feel of sophistication that the card gives you. You need to looks stupid looking for change every time you make a purchase. Just buy anything and simply flash your Prepaid Credit card

Prepaid Credit Cards to use at the Olympics

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As the London 2012 Olympic Games is fast approaching and one of the UK’s largest music festivals has been cancelled this summer, a number of Brits are planning to head abroad for the summer. but some are planning to stay in the UK to support and see the Olympics. The Olympics are supported by Visa and as such only Visa cards can be used at the event , there are prepaid cards that are Visa branded so here is a small selection and alternatives

Virgin prepaid card is a handy way to pay for things in shops, online and over the phone. Simply load it with money and away you go.

  • Safer than carrying cash
  • More convenient than travellers cheques
  • Shop or withdraw cash* wherever you see the Visa symbol
  • ATM withdrawal fee in card currency is $2/€1.50.
  • No application fee, no interest charges and no fees for transactions in the same currency
  • Free emergency second card
  • Instant approval subject to the proper ID 
  • See Virgin Prepaid Credit Card

CaxtonFX GLOBAL TRAVELLER

A Caxton fx global card can be used for multiple destinations, use as if it were the local currency this is the card for you.

  • Load the card with an amount in sterling.
  • Top up the card using your UK debit card either online, over the phone or via SMS.
  • The balance remains in sterling at all times. Funds are converted live to the appropriate currency at the point of a sale, including ATMs, giving you the flexibility to use it globally.
  • The exchange rate applied is fixed at 2.75% below the prevailing interbank rate.
  • No fees or extra charges on your transactions meaning all costs and charges are included in the exchange rate applied.
  • Withdraw cash at ATMs without charge.
  • Use anywhere you see the Visa® sign
  • See CaxtonFX Global Traveller

Whilst parts of the nation will be gripped with Olympic fever, many others will want to avoid it.

Research from the Association of British Travel Agents (ABTA) found that 12% of Brits are intending to go abroad specifically to avoid the 2012 Games. A further 9% of people are looking to holiday somewhere else in the UK to escape the Olympic crowds.

Those from an older generation are less keen on hanging around for the London 2012 Olympic Games, with a massive 22% of 65 year olds intending to head overseas during the event. Only 185 of 55 to 64 year olds are planning to do the same.

“For those who don’t love sports or want to escape the crowds, going abroad will provide a welcome alternative [to the Olympics],” Victoria Bacon, ABTA Head of Communications commented.

Orange prepaid Mastercard

The Orange prepaid credit card is the ideal card for managing a budget. Prepaid credit cards work much like pay as you go mobile phones. You simply put money on to the account which holds the card and once it runs out you can no longer use it or top it up again. It is not attached to any bank accounts so there is no un-arranged overdraft to slip into and the risk of ID fraud is dramatically reduced.

Whilst you do have to pay £5 to take out a card, transactions in the UK are free and there are no monthly fees. You can use this prepaid card overseas and this will help you to manage your holiday budget. You can easily top up for free from Orange outlets or by debit card and via the bank. There is an ATM charge of 5.7% when taking cash out abroad so if you plan to use abroad you would be better using a travel money card like Caxtonfx


Prepaid Card Issuers charging outrageous fees

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Prepaid Card Issuers charging outrageous fees

Prepaid cards are the hottest plastic cards available these days allowing consumers to top up money onto a prepaid card account and make purchases or cash withdrawals from a virtual account. Prepaid cards are unlike a credit cards and debit cards, as prepaid cards are not tied to a bank account and are popular with consumers who don’t have a bank account or wish to manage households bills more effectively or more commonly people who don’t trust banks. Prepaid cards offer an alternative services like payday loans and cheque cashing services. But the cards are also popular with under 18′s learning to manage the control of their money and university students who may use them to help manage finances and avoid debt while studying.

Indeed, since the recession, prepaid cards have increasingly been marketed to the average consumer as a tool that helps them avoid overspending but prepaidcreditcards.org.uk experts say there’s a huge downside to prepaid cards: As some prepaid card providers are charging hefty fees.

Look at any additional fees charged such as activation fees which are an addition to an application fee which one or two companies are charging to simply to start using the card.

Then there are monthly maintenance fees see what you are getting before you opt for this, some monthly maintenance fees charged are intended to help consumers control and limit their charges where transaction fees and in some cases atm charges are included. if you intend to use it regularly then this may be the best plan for you but some companies are charging as much as £12.50 a month in addition to atm charges.

You must note that prepaid card issuers are not like banks, they can not earn intestet off your money and can not play the market with your funds instead they charge handling fees in which they still pay a percentage of this to the banks before they make any money.

Prepaid Card issuers have started looking at how they can get consumers to actively keep a prepaid card in their wallet and more importantly actually use it instead of a debit card or a credit card, where some companies are offering discounts and reward programs which are seeing a large increase in consumers topping up thier card and using it to obtain reward points.

Avoid the bank charges minefield with a Prepaid MasterCard

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Avoid the bank charges minefield with a Prepaid MasterCard

Consumer rights company Which? recently conducted a study into the charging practices in place for some of the UK’s main banks. The main conclusion they reached was that “bank charges are too complicated”.

One aspect of bank charging highlighted in the research was unauthorised overdrafts. A group of volunteers were tasked with calculating the overdraft fees on a mock bank statement based on the policies of four different banks. Shockingly, even a PhD maths student failed to get all the calculations correct – so what hope does this leave for the rest of us?

Which? are campaigning against unfair overdraft charges, but until changes are made in the industry, don’t forget that there is an alternative.

The ClearCash prepaid MasterCard card doesn’t have an overdraft facility, so that’s one set of bank charges you won’t have to worry about. We aim to be transparent about the fees we charge; they are all available to view online on our fees page [link] and in addition to this you can also check your balance by sms whilst you’re out and about.

ClearCash also has another advantage in that it comes with a built-in money management tool – BudgetMaster [link]. BudgetMaster allows you to set monthly spending budgets and shows you your progress along the way, highlighting areas of overspend and under spend.

So if you’re tired of seeing confusing overdraft charges on your bank statement, we would recommend you consider an alternative like ClearCash.

Prepaid currency card will save you money

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Chinese fortune cookie said: “Prepaid currency card will save you money”

In the spirit of Chinese New Year, Caxton FX wants to spread good fortune by reminding consumers they could save a red envelope full of money with a prepaid currency card.

New Year’s celebrations normally see individuals make plans for the future and Caxton FX is reminding people that the next time you go on holiday to plan ahead and think about where you’re getting your spending money from.

Rupert Lee-Browne, CEO of Caxton FX, said: “We like to think that every time you use a prepaid currency cards, it will be like getting back a red envelope full of money.

“Confucius once said that success depends upon previous preparation so the next time you plan your next holiday you should be as enthusiastic as the dragon and seriously consider a currency card.”

Taking money out at the airport or cash machines while you are overseas with your debit or credit card will not only charge to get your currency this way but you will also be offered poor exchange rates.

Currency cards are a great alternative to carrying around cash and can be used to pay for bills any time you see the Visa or MasterCard sign. They offer convenience, security and generally better rates as when you load your card with money, you lock in the exchange rate.

Caxton FX offers three prepaid cards, which include no application fees, can be topped-up online or via SMS wherever you are in the world and they’re easy to apply for at: www.caxtonfxcard.com – so there’s no need to be bamboo-zled