Prepaid cards have really taken off in the UK over the past few years, giving people access to card payment technology who would have otherwise been able to get a card through traditional banks and building societies.
The growth of online and in store card payments makes having plastic essential today which is why prepaid cards have become such a popular resource for those who want the power to spend but without the credit.
Two of the most popular prepaid cards are with the standard credit card providers, Visa and MasterCard, meaning that they’re accepted in the vast majority of outlets both at home and abroad. What’s more is that the best UK prepaid cards also come with contactless technology so you’ll be able to make payments up to £30 without even entering your PIN.
Yes! In fact, they’re perfect for people who are unable to get a traditional credit or debit card through their bank account since you’ll only be able to spend what you’ve added to the account.
Since they fall under the category of no credit check prepaid cards, you won’t have an overdraft or credit limit to spend, meaning no affordability checks are necessary.
Don’t forget – they aren’t just for people with a bad credit cards history. They can help others to manage their money better by using prepaid cards to allocate daily or weekly budgets.
Whilst the majority of young people’s bank accounts come with debit cards these days, the problem is that they’re able to spend at will – something that isn’t ideal if you’re trying to help them budget.
With prepaid cards, you can set a limit on their weekly or monthly spending by only loading certain amounts at a time onto the card. It’s also a great security measure when it comes to giving them cash for school trips, nights out or other adventures. Cash is very difficult to recover if lost, but with prepaid cards you’ll still have access to the money in most cases through online account management.
Applying seems a strong word to use since they’re 100% acceptance prepaid cards! All the same, some do come with certain benefits which makes it well worth comparing before just diving into the first one you find.
Some will charge for card replacements if they’re lost whilst some offer online banking services and UK customer service centres.
Start by comparing prepaid cards at Creditraters.com. We’ll provide you with a detailed comparison of the available options so you can choose a provider (and design!) that you feel suits you best.
The card will be dispatched from your chosen no credit prepaid cards lender once the application has been completed and you’ll receive this in the coming days.