Prepaid cards can help with budgeting

Prepaid cards help people budget according to their ability, one provider of the new cards has said.

According to Tuxedo, the cards operate in much the same way that a prepaid phone card does.

They are pre-loaded with credit and then used for various transactions, both online and offline.

Chief executive Mark Simon believes the cards will prove especially attractive to internet shoppers concerned about online credit card safety.

“It really offers the customer convenience and – crucially – security,” he said today.

He added that the prepaid nature of the product means that there is “no risk of going over drawn and there is no risk of incurring credit costs”.

According to the Thrifty Scot, the ease of using a prepaid credit card “puts a cheque to shame”.

© Adfero Ltd

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