Prepaid cards 'useful' for struggling Britons
09 March 2010 14:24:05
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| Prepaid cards are recommended for those with poor credit ratings. |
Britons are increasingly turning to prepaid cards for their ease of use, security and flexibility, with holidaymakers finding them particularly beneficial.
Writing for loansafe.org, money expert Frank Jenkins noted that they are ideal for anyone who is struggling to get a regular credit card, as no credit checks are required.
"Applying for a prepaid credit card from one of the major credit card companies is a really simple task," he commented.
"You can log onto the internet, fill out a short form and be approved in minutes. If you do not feel safe applying for a prepaid credit card over the internet you can also apply for one in person."
Mr Jenkins added that prepaid cards are now accepted in various types of retail outlets all across the world, a trend which is only likely to increase with their growing popularity.
Consumer magazine Which? recently described the theory behind prepaid cards as being similar to that of a pay-as-you-go mobile phone.
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