Last updated: 23/07/2020 | Estimated Reading Time: 2 minutes
Prepaid credit cards
Applying for a prepaid card using Money Expert is much easier than applying for a standard credit card since credit checks are not necessary. Simply have a look at our comparison tool and select the card which appeals to you most. From then on all you need to do is send off your application and load up money to spend.
In This Guide:
- The benefits of using a prepaid credit card
- Prepaid cards for online shopping
- Prepaid cards for bad credit
- Prepaid cards for pocket money
- Prepaid cards for managing finance
The benefits of using a prepaid credit card
The benefits of using a prepaid card are essentially the same as those associated with any debit or credit card, plus the reduced risk factor. The ability to save time and money by shopping online and being able to withdraw currency abroad is generic to all cards and still applies here.
There is no chance of ending up in large amounts of debt with a prepaid card since you cannot spend what you do not load onto it. This is a benefit to many who find it harder to control their spending with a standard credit card.
The fact that no credit check is necessary when applying for a prepaid card is certainly beneficial to many but, even better than this, there are some prepaid cards designed specifically to help improve your credit rating.
Prepaid cards for online shopping
With online shopping becoming more and more popular due to the convenience and reduced prices, being able to pay by card is becoming more and more important. Almost all online retailers will accept prepaid cards, and this coupled with the security of not spending borrowed money means that prepaid debit/credit cards are increasingly popular, particularly among younger people.
Prepaid cards for bad credit
A prepaid credit card is a great way for someone with a bad credit rating or history to continue to be able to spend money online, and wherever a card is necessary. Because no money is being borrowed, the card provider requires no credit check or security before they provide you with the card. More on credit cards for those with bad credit.
Prepaid cards for pocket money
Prepaid cards have become a very popular way for parents to give their kids a bit of pocket money. The parents can load money onto the card whenever they choose, leaving them able to provide pocket money with the freedom of being able to spend it wherever they want, including online.
Prepaid cards for managing finance
Prepaid credit cards are a good way of managing your finances, consolidating a certain amount of spending money in one place so that you can worry less about your spending.