Pre-paid credit cards.

sooperb

I was thinking of getting one of these as they seem a good way of getting money when necessary to a family member, they keep the card, I top up as necessary. I have read the guide on here and now understand how they work, that is they all have charges of some sort.

So then I thought, why not just have a credit card but keep a credit balance as needed then there are no transaction charges, no fees etc. and if the user inadvertently went over the limit I could pay it off before interest is incurred. I think though, there may be a flaw that I haven't spotted in my cunning plan. Any ideas, is it workable?

Fruit_and_Nut_Case

sooperb wrote: »

there may be a flaw

Many (Most? All?) CC providers have T&Cs which forbid the holder creating a positive balance.

meximum

I am a newbie and struggling a little to use the forum! I want to research prepaid credit cards for travel use and online purchases. Where can I find this info?

Tixy

meximum wrote: »

Where can I find this info?

Prepaid Cards: New plastic that anyone can get

meximum

Thank you. Mex

deanpevans

I am thinking of getting the utility warehouse perpaid card, it gives cash back from a range of shops, online and in person ranging from 3% - 7% depending onn the shop, the cash back is by way of a credit on my Gas and electric bills. The card cost £10 initialy to setup, and is topped up either monthly with a minimun of £50 or once your card balance drops below a minimun £50, it then topps up by £50. Has anyone got one of these? I think its run by the clydesdale bank and on the face of it, it seems a good deal.
Thanks in advance.