What’s The Deal with Pre-Paid Credit Cards?
You may have heard of pre-paid credit card. Also known as secured cards, they offer many of the advantages and benefits of a regular credit card without the risk of overspending and getting into debt. In the current credit crunch, it’s definitely worth thinking about.
So what does it involve? Think of it like a pay as you talk mobile phone. You load the card up with credit, and away you go. Here are some of the advantages to having a pre-paid credit card.
* No debt – it’s impossible to get into debt (one of the biggest risks of a regular credit card) because you only spend the money you’ve put on the card.
* No interest – this is a massive incentive, as the credit on a regular can soon mount up.
* Versatile - pre-paid cards can be used online, in shops, over the phone… In other words, exactly like a regular credit card.
* Safer - a pre-paid card is safer than carrying cash.
* Ease of approval – unless you’ve been involved in fraud, you will almost definitely be approved. This goes for under-18s too. Applying for a pre-paid credit card won’t affect your credit rating either.
So if you’re thinking about getting a credit card but don’t want to run the risks that a regular card presents, think about going pre-paid. Find the best deals at CreditCardExpert.co.uk.