Prepaid Credit Cards
Prepaid credit cards offer the flexibility and convenience of a credit card while not actually offering you any credit or charging interest. They work a bit like phone cards in that you put money on the card to spend later on. When your funds run low you can top up the card by various methods.
Buy The Sun Prepaid MasterCard®
Buy a Virgin Prepaid MasterCard®
Buy an Optimum Prepaid MasterCard®
Buy a CashPlus Prepaid Gold MasterCard®
Buy a Splash Plastic Prepaid Maestro® Card
Like credit cards, they are safer and more convenient than cash, plus you can use them to shop online and over the phone.
Other benefits include:
- You don't get any credit so you can't get into debt.
- You don't need a bank account.
- You don't have to be over 18.
Drawbacks include:
- They are not free - you have to buy one.
- You have to pay a fee to use the card - this could be monthly, annually or for every transaction (or a combination of these).
- As with credit cards, there can be other hidden charges for certain usages - e.g. cash withdrawals, overseas transactions.
Prepaid credit cards are suitable for people who are too young to have a real credit card or for people who want the flexibility of a credit card but without the risk of getting into debt.
Please note: TheMoneyFactor.co.uk makes every effort to ensure that all our information and the results from our calculators are accurate and current. However, we cannot guarantee 100% accuracy and cannot be held liable for any errors.
Nothing within TheMoneyFactor.co.uk website is, or shall be deemed to constitute, financial or other advice or a recommendation to purchase any product or service. Any and all information provided within TheMoneyFactor.co.uk website is for general information purposes only.
TheMoneyFactor.co.uk advises that you always check with the finance service provider before signing any agreement or purchasing any product.
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