Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
They are cards which you load with money, so that you can spend up to that amount but no more, so they are not a credit card.
They are excellent for using for internet purchases if you have no debit card.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
They are usually Mastercard or Maestro cards and can be used in the same way as debit or credit cards, the difference being you load them with money before you can use them. That means you are spending your own money, and cannot go overdrawn.
Do you have to make sure you get one from a company that you didn't go bump on. Do you somehow load them up on line and check your balances before you spend. I guess its more secure buying online if someone somehow hijacked your details as they couldn't keep spending upto your credit limit if it were a credit or debit card. Once the money you credited onto it had gone they would be stuffed. I also guess purchases would't be insured like a normal credit card. I will check your link out.
Started a DMP sept '09
IVA since Dec '11
Completion Certificate Dec '16
Paypal is a good one to use. £4.99 to set up and then no monthly fee. £1 to top up at a post office or free from a bank account or paypal account.
You can check your balance online.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Nice one Jan. I already have a Paypal account. You have just sparked another thing I need to change as it is linked with one of my credit cards. Will have to take note for when I start the IVA process (hopefully)
Started a DMP sept '09
IVA since Dec '11
Completion Certificate Dec '16
Headbanger - my firm will shortly be able to offer the Secure Trust bank account to all o our clients which includes a pre-paid card. There is a small fee for operating the account, but from what I can see this product is the most competitive in the market.
I love the PayPal card, any money made on selling a few bits and bobs on eBay are avaialble to spend the day after you have loaded your card from your PayPal account - very happy with it!
Must admit that I use mine for purchases other than Ebay on the Internet and use my Paypal account for Ebay purchases.
I have never tried to use it in a shop though.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
The majority of them do need to cut the fees though - I stopped using mine as I object to paying to spend my own money! That's why the Paypal card is a good one, although there is a limit to how much you can load on it each year.
Skippy13 wrote:
The majority of them do need to cut the fees though - I stopped using mine as I object to paying to spend my own money! That's why the Paypal card is a good one, although there is a limit to how much you can load on it each year.
We are coming very close to the 10k top up limit on ours now with 2 months to till it starts again
I've asked my dad to apply for when we reach the limit so we can use that having become very reliant on it
I've found the Paypal card excellent, never been refused anywhere, I use it mainly for petrol ( not pay at the pump thou ) but have used it on internet, in store at Asda, Tesco, Morrisons and the like, also have used it for smaller shops as well.
As I have a paypal account linked to my bank account, so I can load it thru paypal account with no charges straight out of my current account, it has not cost me a penny apart from the initial outlay for the card itself.
Saying that it can-not be used for car hire, not too sure about hotels either, for this I have just 'bought' a cash plus card which after a few months of usage, you can enable this option by phoning them and they will 'switch' this option on for you.
There is a monthly charge for the cashplus card but you can change this when you get the card and just get charged per transaction, if you use it less than 5 times a month its cheaper this way.
i have just applied for the paypal card im going to put so much on a month and save for xmas i think they are a goos idea been looking at them for a while think paypal is cheapest and no fees.
