Finding the best prepaid cards

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To think about the best prepaid cards, you will need to understand that what may be considered ‘best’ for you may differ to what someone else may consider to be the ‘best’ prepay cards. Your needs are as individual as you are and so only you can decide if a card is the most suitable for you. This article may help you in your understanding of prepaid cards and how they differ to credit cards, meaning you may be able to confidently look for the best prepay card for you.

So, how do pre paid cards differ from ordinary credit cards?

Credit cards and debt

It’s often a controversial subject, but some people may argue that having a plastic credit card in your pocket is a potential first-step on the road to debt.

The problem is, today we all often need plastic of some form. In some cases, such as with automatic ticket vending machines or some internet or telephone purchases, you may not in fact be able to use cash or cheques as the systems expect you to have plastic available.

So, how can you have the convenience and security of plastic without having the risk of running up credit debts?

The answer may be the prepaid card.

The prepaid card – a new approach

The principle behind the prepaid card is typically simple.

You apply for a prepaid card that is entirely compatible with most electronic card payment systems and machines (for example, if you choose a prepaid MasterCard, you will typically be able to use it at any place that accepts the MasterCard brand).

The beauty of the prepaid card is that before you can use it, you have to load funds onto it. This is often easily done through a PayPoint outlet or you may be able to credit funds directly to it from your bank account or salary.

Once it is loaded, you can use it as per any normal card but only up to the level of the funds you’ve loaded onto it.

That means you simply cannot run up debts because there is no credit limit involved.

No credit checks

Another major advantage of these cards is that because you’re not asking for credit, typically there are no credit checks involved.

That means that typically you’ll be able to apply for one one even if you have credit history problems. This may provide you with the flexibility and security of plastic even if you would otherwise be unable to secure a loan or credit.

The best prepaid cards

There are specialist providers of prepaid cards on the internet. The facilities they offer will vary – some for example may be able to offer an e-banking facility to complement the prepaid card.

Selecting the best prepaid cards will depend upon your personal preferences and the facilities you require, but hopefully this article has given you some food for thought!

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