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Top up and go with a prepaid card

Top up and go with a prepaid card

Category: Money

Updated: 12/11/2012
First Published: 09/11/2012

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Research released this week has found that around 1 in 4 UK adults suffer as a result of having a bad credit history.

With consumer fears of rising security and fraud issues experienced by traditional payment mechanisms, it is unsurprising that consumers are turning to prepaid cards as an alternative to traditional bank accounts.

Prepaid cards can be a option if you have been previously refused other forms of credit, such as credit cards, are struggling to open a bank account or just don't fancy borrowing extra money from your bank or building society.

These easy to use cards require regular top ups of cash which can then be spent in shops, restaurants and hotels – in fact anywhere debit or credit cards are accepted, including online shopping.

What's more, these cards do not require any credit checks prior to approval.

Prepaid cards are available to all consumers aged 13 and over, so can also be a great way for parents to keep an eye on their children's spending habits!

As the popularity of these convenient and cost-effective cards increases, a growing number of prepaid card providers have stepped forward to offer cards as a means to assist those with poor credit histories.

Compare everyday prepaid cards

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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