0% Balance Transfer Credit CardsGuide to Pre-Paid Credit Cards
Pre-Paid Cards work just like a "pay-as-you-go" mobile phone. They can be topped up with cash at many locations such as a Post Office Branch. You can even have your employer pay your wages onto the card.
Your spending limits are set by the amount of money you load onto the card. When you make a purchase with the card, the purchase amount is deducted from the card balance. You cannot spend any more than the current balance.
Where can you use prepaid credit cards
With a Prepaid Card you can enjoy all the benefits of a Credit card with no credit check, no interest payments and no surprises. Your Card makes it easy to pay for whatever you want. Use it for everyday purchases wherever a normal card is accepted, such as :
- Thousands of ATM’s across the world
- Shop safely and securely on the internet
- Make flight or train reservations
- Book hotel rooms
- Overseas transactions
- Buy groceries & petrol
- Share money with friends and family abroad
It’s safe
A Prepaid card is safer than carrying cash as it is protected by chip & PIN technology. When cash is lost, it is gone forever. However, if your Card is ever lost or stolen, you can receive a replacement card within days. Nevertheless you should look after your card with the same care as you do your cash, never reveal your PIN to anyone else and immediately report it if you think that your card is lost or stolen to avoid any loss of the funds on your card.
Easy to get accepted
Prepaid Cards are ideal for:
- People who don't want to go over their budget or limit their spending
- People who don't want to use their credit card for internet purchases
- Parents wishing to support their children at university in a controlled and budgeted way
- People who regularly send money to friends or family abroad
- People with damaged or no credit history
- Foreign nationals that may have difficulty opening a UK bank account
For people who want to control and budget their spending
You set the spending limits by the prepaid amount loaded on your card.
For people who regularly share money with friends or family abroad
You can use your Card to share money with people who live abroad very cheaply. Just order a secondary card, and then post this to your family member or friend. Then you can share your money with them. They will be able to spend using the card or make cash withdrawals from ATMs in their home country.
For people with damaged or no credit history
Getting a spending card has never been easier than with pre-paid cards. Approval is often 100% guaranteed once you meet the minimum identification requirements. There will be no credit checks or employment verification. You don’t even need a bank account!
For foreign nationals
Getting a bank account in the UK can be very difficult if you are a foreign national residing or working in the UK. With pre-paid cards, approval is high if you can provide your digital Passport number and information proving your address.