Do you want to keep control of your money?

Everyday prepaid cards have been growing in popularity over recent years.  They allow you to pre-load money on to a card which you can then use at ATMs or online to withdraw cash and to buy goods and services.

Here are the three main benefits of prepaid cards.

1. No credit check

Typically, you will find that the best prepaid cards are offered to you without you having to go through a credit check.  As you can never go overdrawn on a prepaid card, there is no ‘borrowing’ and so no need for a credit check.

If you have had poor credit in the past and are struggling to obtain a traditional credit or debit card then you should consider everyday prepaid cards.

2. Great for holidays

When you compare prepaid cards, it is worth looking at what travel benefits they offer.  With the best prepaid cards, you can load up the card with cash before you head abroad on holiday.  You can then use the card to withdraw cash or to buy items when you are overseas.

You don’t have to carry large sums of foreign currency when you are away on holiday.  And, you can typically top up your card and manage your account online, wherever in the world you are.

3. Keep track of your spending

You may not wish to use a credit card as you don’t want to run up a huge debt by losing control of your spending.  That is why everyday prepaid cards are growing in popularity.  You can only ever spend the amount that you load on to the card, so it is not possible for you to go into huge debt.

You will get a statement every month detailing your spending and so it is easy for you to keep a close eye on where your money is going.