Pre-paid "credit cards"

[Famous Graham]

Wasn't someone on here planning on launching something like this?

Anyway, has anyone used them? Given I was out of the country for a while, my bank won't give me a debit card with my bank account, just a cash machine card, so I'm kind of stuffed for buying online (don't mention the word Paypal within earshot ). Do they offer the same protection as a "normal" CC?

And where can you get 'em

[mybrainhurts]

TalkSport Radio will give you one..

Might be wrong, but I think they charge you for CASH withdrawals.

[thehawk]

Best one is the CaxtonFX card.

[172ff]

What? This on PH? I thought money was no object here?!?!

The Mirror do one. Havent a clue how it works though.

[Racingdude009]

Is a prepay credit card not the same as a debit card ?

[anonymous-user]

Racingdude009 said:

Is a prepay credit card not the same as a debit card ?

AFAIK you can't go overdrawn with it, you load it with whatever ££ you want then use as a card. A m8 of mine(who was declared bankrupt!) had one not so long back.......

[Red Firecracker]

Racingdude009 said:

Is a prepay credit card not the same as a debit card ?

Effectively, but the OP's bank won't give him a debit card, hence....

[Racingdude009]

sounds a good idea for Bankrupts and those who are unable to manage thier money.

[Famous Graham]

Racingdude009 said:

Is a prepay credit card not the same as a debit card ?

I understood it was entirely independent of a bank account, ie you "top it up" and then use it as you would a CC.

Racingdude009 said:

sounds a good idea for Bankrupts and those who are unable to manage thier money.

Or if you bugger off on a jolly for just under a year and close down your original current account, not realising that they won't give you another when you get back

Edited by Famous Graham on Wednesday 12th November 12:31

[BigLepton]

Famous Graham said:

Wasn't someone on here planning on launching something like this?

Anyway, has anyone used them? Given I was out of the country for a while, my bank won't give me a debit card with my bank account, just a cash machine card, so I'm kind of stuffed for buying online (don't mention the word Paypal within earshot ). Do they offer the same protection as a "normal" CC?

And where can you get 'em

Virgin do one which looks like a proper CC - http://uk.virginmoney.com/virgin/prepaid-card/

IIRC you can load up to £3500 on a card and it works just like a proper CC, except for things like hiring a car where they take a deposit. Everything else works the same. I have normal CC's but I use a prepaid one for internet purchases and dodgy-looking petrol stations because you can load only what you want to spend so scammers can't fleece your card to its credit limit.

As for your bank not giving you a debit card, try LLoyds TSB. They offer a basic bank account which available even to people with very bad credit which comes complete with a full VISA debit card which you can use just about anywhere.

[Famous Graham]

BigLepton said:

Famous Graham said:

Wasn't someone on here planning on launching something like this?

Anyway, has anyone used them? Given I was out of the country for a while, my bank won't give me a debit card with my bank account, just a cash machine card, so I'm kind of stuffed for buying online (don't mention the word Paypal within earshot ). Do they offer the same protection as a "normal" CC?

And where can you get 'em

Virgin do one which looks like a proper CC - http://uk.virginmoney.com/virgin/prepaid-card/

IIRC you can load up to £3500 on a card and it works just like a proper CC, except for things like hiring a car where they take a deposit. Everything else works the same. I have normal CC's but I use a prepaid one for internet purchases and dodgy-looking petrol stations because you can load only what you want to spend so scammers can't fleece your card to its credit limit.

As for your bank not giving you a debit card, try LLoyds TSB. They offer a basic bank account which available even to people with very bad credit which comes complete with a full VISA debit card which you can use just about anywhere.

Cheers. To be honest, if I can sort out one of these prepay jobbies, then I'm happy with that and my cashpoint card. I don't really need more than that. My bank account itself is perfectly adequate for everything else (DDs, transfers etc etc).

[G'kar]

Famous Graham said:

BigLepton said:

Famous Graham said:

Wasn't someone on here planning on launching something like this?

Anyway, has anyone used them? Given I was out of the country for a while, my bank won't give me a debit card with my bank account, just a cash machine card, so I'm kind of stuffed for buying online (don't mention the word Paypal within earshot ). Do they offer the same protection as a "normal" CC?

And where can you get 'em

Virgin do one which looks like a proper CC - http://uk.virginmoney.com/virgin/prepaid-card/

IIRC you can load up to £3500 on a card and it works just like a proper CC, except for things like hiring a car where they take a deposit. Everything else works the same. I have normal CC's but I use a prepaid one for internet purchases and dodgy-looking petrol stations because you can load only what you want to spend so scammers can't fleece your card to its credit limit.

As for your bank not giving you a debit card, try LLoyds TSB. They offer a basic bank account which available even to people with very bad credit which comes complete with a full VISA debit card which you can use just about anywhere.

Cheers. To be honest, if I can sort out one of these prepay jobbies, then I'm happy with that and my cashpoint card. I don't really need more than that. My bank account itself is perfectly adequate for everything else (DDs, transfers etc etc).

It's an expensive way round the problem.

As has been mentioned, you can get charged for cash withdrawls, and there's normally either a monthly fee or percentage fee for loading the money on.

If you can get a normal debit card, I'd go that route.

[Taita]

Your bank are ste. Say you are going to move banks and they will give you one.

[Famous Graham]

G'kar said:

Famous Graham said:

BigLepton said:

Famous Graham said:

Wasn't someone on here planning on launching something like this?

Anyway, has anyone used them? Given I was out of the country for a while, my bank won't give me a debit card with my bank account, just a cash machine card, so I'm kind of stuffed for buying online (don't mention the word Paypal within earshot ). Do they offer the same protection as a "normal" CC?

And where can you get 'em

Virgin do one which looks like a proper CC - http://uk.virginmoney.com/virgin/prepaid-card/

IIRC you can load up to £3500 on a card and it works just like a proper CC, except for things like hiring a car where they take a deposit. Everything else works the same. I have normal CC's but I use a prepaid one for internet purchases and dodgy-looking petrol stations because you can load only what you want to spend so scammers can't fleece your card to its credit limit.

As for your bank not giving you a debit card, try LLoyds TSB. They offer a basic bank account which available even to people with very bad credit which comes complete with a full VISA debit card which you can use just about anywhere.

Cheers. To be honest, if I can sort out one of these prepay jobbies, then I'm happy with that and my cashpoint card. I don't really need more than that. My bank account itself is perfectly adequate for everything else (DDs, transfers etc etc).

It's an expensive way round the problem.

As has been mentioned, you can get charged for cash withdrawls, and there's normally either a monthly fee or percentage fee for loading the money on.

If you can get a normal debit card, I'd go that route.

Cash withdrawal charges aren't a problem, I never do that on a CC anyway. I presumed there would be a top-up charge of some sort, seeing as you aren't borrowing and they have to make money somehow, so I'll bear that it in mind. (Changing banks again would be a bit of a pain in the arse, and opening a second just for a DC and transferring money across to cover it would be too).

[captainzep]

A local wildlife charity (Aspinal Foundation) sent me one of these through the post.

By using it, they get some money somehow.

I thought this was pretty intrusive marketing (suggesting I alter my financial modus operandi just for their benefit) and chucked it in the bin. -I already give them plenty by buying a family season ticket to their 2 parks. Cheeky feckers.

[aclivity]

basic bank account?

http://www.moneyfacts.co.uk/banking/bestbuys/banki...
http://www.moneymadeclear.fsa.gov.uk/pdfs/bank_acc...

Looked into these recently as a way to help a family member out of a financial mire. You can put money in, spend it on a card, but not go overdrawn.

[Famous Graham]

aclivity said:

basic bank account?

http://www.moneyfacts.co.uk/banking/bestbuys/banki...
http://www.moneymadeclear.fsa.gov.uk/pdfs/bank_acc...

Looked into these recently as a way to help a family member out of a financial mire. You can put money in, spend it on a card, but not go overdrawn.

Ta, but the bank account itself is fine (it's actually on that first list - Nationwide Flex Account). It's not lack of funds, or getting myself up to my eyes in debt or anything like that. Simply that I haven't been resident for the past year or so.

I'm quite happy just using cash for everything day to day, but there are better prices to be had online for some things - which I can't do without a CC or DC

Edited by Famous Graham on Wednesday 12th November 12:46

[xiphias]

Was pondering credit cards earlier when I came across this:

http://www.moneysupermarket.com/prepaidcards/Cards...

Might be useful.

[H2DaE]

Taita said:

Your bank are ste. Say you are going to move banks and they will give you one.

No they won't

Oh and Barclays also have VISA cards on their basic bank accounts as of a couple of months ago

[EngJock]

Virgin Prepaid Card said:

Please note, the card costs £9.95 to buy and each time you use it to pay for purchases a transaction charge of 2.95% is deducted from your balance.

Seems a bit steep...