www.iva.co.uk

Just to let you know that Virgin money have issued a pre-paid card - £9.95 issue fee, no monthy charge and a fee of 2.95% of the transaction each time you use it. Not great if you use it a lot, but for someone like me who keeps it for emergencies it could save me money.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

Seems expensive for a pre-paid card.

hara.

I didnt know about this. Just had a look at the Virgin website and their card does sound quite good. I have always been put off before as I had never heard of the companies providing these cards and was always a bit wary of them. I also thought theu must somehow be against the rules in an IVA but I know that many people have posted that they ARE allowed. Also I see that anyone over 13 can have one so they cant possibly have any "credit" element to them. The website says there are no credit checks involved. I think I might try loading my monthly contingency / emergency money onto one of these. Its true they do seem pricey but I would not to it much. I currently have an "Electron" card but these are not accepted everywhere plus when I tried to use it at the Tesco "self-service" till you have to wait for the assistant to come and print off a receipt for signature!

Hi Skippy,

I've just applied for the Cashplus Prepai Gold Mastercard and this was £16.95 in total for the issue fee and first monthly charge. Seemed quite expensive but i think the card would be excellent for myself. The only thing is, i cant see if there is a regular monthly charge (the first month was £4.95) so i'm guessing there is. I only applied for it last night and wish i'd seen your post regarding the Virgin Card now! Has anyone else got the Cashplus Prepaid Gold Mastercard (it was recommended to me on this site) and do they find it ok?

Hi Swardy
I,ve got that one but hardly use it.
The pin number took ages to come through so don,t load money onto it until you get that,otherwise you can,t use it at all[other than on line]
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

With the cash plus card there are 2 options, 1 with a monthly fee £4.95 transactions are free, and 1 with no monthly fee but £1 per transaction, so if you don't use the card very often its worth switching to the no monthly fee option. Also if you switch to the no monthly fee option within I think 28 days of taking out the card you get your £4.95 refunded.

I have just applied for one.
They also offer an arrangement for £1 per transaction,
if you swap to that within 30 days of receiving your
card you get the first months subscription of £4.95
refunded.

Aucto Splendore Resurgo.
(4 down, 56 to go)

louiseh.
that was spooky!

Aucto Splendore Resurgo.
(4 down, 56 to go)

Great minds think alike and all that!

Yes indeed.
I was far too embarassed to say the reason i needed
the card was that Mrs Torch is trying to purchase
Rick Astley's Greatest Hits off the internet.
There you go, i've said it now.

Aucto Splendore Resurgo.
(4 down, 56 to go)

There is also a new one its a tuxedo mastercard i saw an advert on tv and checked it out u can apply online or by text for £10 then i think you have to pay per transaction. luckily I managed to keep my visa debit card so I can use that anywhere , but just thought I'd add it to the post in case anyone was interested

There's nothing wrong with Rick Astley!

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

Hello,

The prepaid card is far from a new idea. How many of us have used a prepaid phone card, a prepaid gift card or a prepaid sim card? The concept is basically the same. You load money on to a card that can then be used at retailers and online merchants. It can even be used to pay your bills and top up your mobile phone, and you can withdraw cash with the prepaid Visa or MasterCard at an ATM.

Money can be loaded on to your prepaid card by cash, bank transfer or even another credit card, and because it is a Visa or MasterCard you can use it anywhere in the world.

Prepaid cards generally have the same uses as a credit card, so much so that they are commonly referred to as ‘prepaid credit cards’. However, there is a difference. A prepaid card is completely powered by your cash and therefore the money you have in your prepaid account is the money you have to spend. This means there is no risk of running into debt. There are no credit checks and no interest to pay. Consequently, rather than referring to it as a prepaid credit card, a better description would be a prepaid debit card, a prepaid Visa card or a prepaid MasterCard.

The market is rapidly expanding but among the leading names in prepaid cards currently are Cashplus, Cash2Go and Amex Travellers Cheque Card along with Speedcard, I-Money and I-Travel. There are prepaid Visa cards and prepaid MasterCards. As more companies enter the prepaid card market the more competitive the fees will become which will benefit consumers.

Kind regards,

Julia Simavi

Shortlisted with special commendation for Debt Counsellor of the Year by Credit Today Awards 2007

View my profile:
http://www.supersonicsquirrel.net/julia ... rofile.asp

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