The first credit cards were given out in 1950 to just 200 people. They were only accepted in 14 restaurants in New York.
Source: About.com (http://history1990s.about.com/
od/1950s/a/firstcreditcard_1.htm)
Gap-year students should avoid carrying large amounts of foreign cash.
Household debts have risen as families struggle with living costs.
If you need to make payments using a card, for example online, but can't get a credit card or a debit card through a bank account then you may want to consider getting a prepaid card.
Prepaid cards do not come with credit facilities and so are ideal if you have a poor credit history because there are no credit checks involved. However, some prepaid cards offer you the chance to build your credit rating, which has made them very popular. Read more...>
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Orange Cash Prepaid MasterCardComes with PayPass contactless payment technology |
£5 | £0 |
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ClearCash iCount PAYGPerfect for occasional use |
£4.50 | £0 |
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Cashplus Fee Free OfferFee Free for 3 Months! Free € & US $ cards available |
£4.95 | £0 |
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| ** Great alternative to a currency card, no ATM, purchase or currency FX fees for first 3 months. Once home, use funds left here ** | ||||
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They are also commonly given as gifts, much like a store voucher, because the card can be used in millions of stores worldwide and are safer than carrying cash.
The term 'Everyday Prepaid Cards' is used to describe the pre pay cards used for day-to-day use by consumers living in the UK. This could be consumers with poor or non-existent credit histories, newly-arrived immigrants that can't get bank accounts or parents that manage their children's pocket money with a prepaid card, amongst others.
The fees on everyday cards differ to travel prepaid cards - you wouldn't get the best deal if you used an everyday prepaid card abroad just as you wouldn't get the best deal by using a travel prepaid card in the UK. This is why it's important to make sure you compare prepaid cards by type so you get the best card for your needs. Plus, you can have as many prepaid cards as you like so there's no reason you can't have one for everyday use and then keep one stored (empty) with your travel documents ready for loading when you plan to go abroad.
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