PRE PAID CREDIT CARDS?

[Skippy]

I agree Andy. I get on well with the Visa Electron with my Co-op account, but there are some times when I haven't been able to use it. It's easy for people who have a full debit card that people shouldn't use pre-paid cards, but life isn't always that straight forward.

I've applied for a Tuxedo card and I was very impressed with the speed it arrived. I applied through the Quidco cashback site and I'll get £5 cashback, and if I top up with £50 or more in 14 days I'll get £5 from Tuxedo so it won't actually cost me anything!

[Reviva UK]

There are some small costs associated with these type of cards - but you need to remember that the major high street banks also charge for:-

unauthorised overdrafts ( expensive over a year!)
cash withdrawal via a credit card.
etc and they are all looking to do away with free banking in the future.

Suspect it will be cheaper to run a pre pay than a traditional account in the future.

[Soulgrowth]

For me the value of having a prepaid card far outweighs the costs it incurs. Being self-employed I use hotels in my business a fair bit. I only have a basic Nationwide account with no debit card and so the only way I can book a hotel is with my prepaid Mastercard.

Also, I have always felt that there is a psychological advantage to having a pre paid card which is either a Mastercard or a Visa (I think) as the traditional credit card at one time was a reflection of status and financial integrity (that is until they started giving them out like confetti!) and as a self-employed person I would much rather be seen to be using a Mastercard than a debit card ... perhaps I'm just a bit odd!

Debbie

[Skippy]

I couldn't get a Cashplus card, presumably as I hadn't been at my address long enough and I didn't have the right ID - no utility bills and at that time no bank statements at my new address.

I have the Virgin prepaid Mastercard and I've just got the Tuxedo Maestro so with my Visa Electron (which I prefer to use) I should have everything covered!

[Reviva UK]

Skippy

would be grateful for your opinion of the Tuxedo card.

we have been reviewing these options for our clients and suspect we will go ahead with one as a preferred partner via our website.

I often think that it is not a bad place to have a few hundred pounds for the what if's in life.

[Skippy]

I haven't used it yet, but I was very impressed with the speed that it came - I ordered it on 8th April and it arrived on Friday. Another thing that I was pleased about was that the customer service number is an 020 number and I get free calls from Sky!

You can pay money either directly onto the card, or into the 'eccount' and transfer it onto the card as and when you need it - useful if you have trouble getting a savings account like me!

I'll let you know how I get on with it when I start using it!

[Reviva UK]

thanks