Prepaid Credit Cards

Since its introduction, the prepaid card has become a gateway to safer shopping because of PIN protection and a tool for online spending and day-to-day budgeting for consumers in the UK, especially those that are unable to get standard bank accounts with debit cards, or credit cards.

	O2 Cash Manager Manage your money wherever you are	£0	£0
		** Available exclusively to O2 customers **
	Cashplus with iAdvance Exclusive! Prepaid card with credit builder. Instant approval & borrow up to £500	£4.95	£4.95
		** With Cashplus you can add Creditbuilder to build your credit rating* and borrow up to £500 for life’s little emergencies **
	Kalixa No credit checks or bank accounts required	£4.95	£0

Prepaid Cards

Plus, prepaid cards have offered a new way to receive a salary for Britons who can’t get or don’t want a bank account and people who have just arrived in the UK from abroad.

It is well worth noting that prepaid cards do not come with a credit facility like a credit card and are referred to as 'prepaid credit cards' because of the plastic card functionality they share with credit cards; namely that you can use them securely with a PIN and also to buy goods and services where a credit card, or debit card for that matter, might otherwise be used.

What’s more, you can now get prepaid cards which are designed to offer an alternative payment method for shopping abroad. Travel prepaid cards are safer than carrying cash because they are protected by a PIN while also offering the convenience of cash as they are accepted across the world wherever a MasterCard or Visa sign is displayed (you will either have a prepaid MasterCard or a prepaid Visa).

Couple this with the fact that travel prepaid cards are often free to use to pay for goods and services abroad and you have an attractive alternative to using your debit card, which will charge foreign transactions fees when used abroad, for your holiday purchases.

The security of prepaid cards is heightened when you consider that the card isn’t linked to a bank account, like a debit card, or a credit account, like a credit card, so if your card is stolen, the thieves can only get their hands on the money already on the card.

They are also great for giving kids allowances, allowing them freedom to buy things for themselves online, better security than carrying cash and enabling them to budget their pocket money.

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