Prepaid Credit Cards
PrepaidCreditCards.org.uk finds,
compares & gives you a guide to Prepaid Credit Cards in the Uk.
These cards are very popular and offer you loads of
advantages, they mean you can keep a hold of your spending and
take the cards with you abroad as a safer alternative to foreign
currency. Prepaid Credit Cards are available from some of
the UK's top companies.
Find the
right Prepaid Credit Card for you below!
Most Popular :
Cashplus PrePaid Credit Card : Free with a £10 initial load. A popular choice and established company.
Also Popular : Kalixa PrePaid Credit Card : No monthly fees or transaction fee's. A great prepaid mastercard to have.
We compare Prepaid Credit Cards which are also known as Prepaid Debit Cards. We let you know which UK companies offer which cards and at what rates. These cards are also known as Travel Cards, Prepaid Credit
Card, Prepaid Debit Cards, Free Debit
Cards, Free Switch Cards, Prepaid Switch Cards, Prepaid Maestro Cards and Prepaid Visa Cards.
Often people use these travel cards on holiday in order to reduce the risk
of losing cash or having to use expensive credit cards. The prepaid
credit cards cut this problem out by allowing you to preload cash onto the
card and then to use it abroad for a small fee.
With the growing incidence of credit card fraud over the past decade, new
and innovative methods of securely carrying a cash type payment method
have emerged. Amongst these are prepaid credit cards.
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,
diminishing 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 credit cards for bad credit also known as credit cards for people with bad credit.
There are now a number of such 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. 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 other members of the family or friends.
In addition, you get all the purchasing protection from Visa and
Mastercard that you would with a traditional credit card. Thus, your
purchases are protected in the event of supplier default or liquidation.
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 spending where 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.
If you draw cash from an ATM, a different charge is levied ranging from 50
pence to 3%, dependent upon brand.
If you are not looking for an account where spending might get out of
control, a prepaid credit card could be a simple, safe and effective
solution. Your application is guaranteed to be accepted and you can never
spend more than you can afford to put on it. As such, it is an excellent
way of helping to manage your budget and stay in control of your spending.
The number of cards and benefits available varies. One way to compare what
is available is to look at a comparison website such as
www.prepaidcreditcards.org.uk. Here you will see an easy tabular
layout
comparing the main features of each of the most popular cards along with
an easy click through to the main carrier's sites for further details and
application forms. Think Money have a general credit card comparison list on their website here. However if you are looking for something abit different, you can get one of the leading balance transfer credit cards which also utilise contactless technology from Virgin Money.
