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best card for budgeting?
NewlandA
Posts: 3 Newbie
in Credit cards
Hi everyone
Hope you can help me.
I started tackling my credit card debt recently, and one of the ways I did that was using Monzo. They had a prepaid card, and I used it to transfer any spending money i had for the month onto it and really get my spending under control. I managed to half my credit card debt using this.
The issue? Monzo are now in the process of turning everything into proper bank accounts. While I understand that's great for them, it's a bit annoying for me. I don't reallllyyy trust myself to go back to any sort of credit card and if Monzo is just going to be a normal bank then I might as well just open a new account with my current bank and use that.
I'm hoping to have the debt paid off a few months after Christmas, but I'd really like any recommendations for alternative pre-paid cards to use in the meantime
Hope you can help me.
I started tackling my credit card debt recently, and one of the ways I did that was using Monzo. They had a prepaid card, and I used it to transfer any spending money i had for the month onto it and really get my spending under control. I managed to half my credit card debt using this.
The issue? Monzo are now in the process of turning everything into proper bank accounts. While I understand that's great for them, it's a bit annoying for me. I don't reallllyyy trust myself to go back to any sort of credit card and if Monzo is just going to be a normal bank then I might as well just open a new account with my current bank and use that.
I'm hoping to have the debt paid off a few months after Christmas, but I'd really like any recommendations for alternative pre-paid cards to use in the meantime
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Comments
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And also any advice about alternatives to a pre-paid card which could work better for me would be awesome!0
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And also any advice about alternatives to a pre-paid card which could work better for me would be awesome!
Loot?
The card is free, no fees for purchases or top-ups via bank transfer or debit card.
£1 for each cash machine withdrawal after the first two months.
They offer online account access and an app.
There's also a feature that will let you set a weekly budget.
Revolt is another top up and spend card, with a few fees. Card costs a fiver, no charge for topping up via a bank transfer or debit card. No fees for the first £200 of cash machine withdrawals.
And Pockit. Most things are free or cost 99p. There's a 99p fee for the card, top-ups via debit card and cash machine withdrawals. No fees for purchases and top-ups via bank transfer. Pockit also offers cashback at some stores.
All figures based on UK use. Check the fee tables if you plan to use abroad.0 -
Why would the status of where the money is held make any difference?
Nothing changes from your side (besides being given a new card).
You can continue to use the app the same as before, and continue to only top-up when you want to, as before.
Features like Direct Debits will now be there, but you don't have to use them...0 -
It's a psychological thing, it ties in with how my mind approaches finances.0
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