Pre Paid Card Question

oopsadaisydoddle

Hi all,

Am thinking of getting a pre paid card in my pursuit to rid ourselves of our current credit debt. It is on 0% until June next yr but want to bring that forward to Jan/Feb.

I'm considering a prepaid card to help with this. Load it and once it's gone it's gone! Currently if I overspend on groceries, I just subsidise it with my debt busting fund!

My questions (eventually - sorry!) are: can you get a card with more than one cardholder? Are there any cards that are like a debit card and not credit type card. Just because I do some of my grocery shopping in Aldi and they only accept debit cards!

Thanks in advance!

Oops.

reclusive46

oopsadaisydoddle wrote: »

Hi all,

Am thinking of getting a pre paid card in my pursuit to rid ourselves of our current credit debt. It is on 0% until June next yr but want to bring that forward to Jan/Feb.

I'm considering a prepaid card to help with this. Load it and once it's gone it's gone! Currently if I overspend on groceries, I just subsidise it with my debt busting fund!

My questions (eventually - sorry!) are: can you get a card with more than one cardholder? Are there any cards that are like a debit card and not credit type card. Just because I do some of my grocery shopping in Aldi and they only accept debit cards!

Thanks in advance!

Oops.

Most prepaid cards allow an additional card holder and regarding the Aldi thing, most prepaid cards are classed as a credit card to the terminal.

opinions4u

Get a basic bank account.

Cut up the credit card.

oopsadaisydoddle

opinions4u wrote: »

Get a basic bank account.

Cut up the credit card.

Thanks. We don't need a basic account - had ours for years...we have the Halifax reward account which we get paid £5 a month for for not using our overdraft.

Our credit card debt will be paid by the time the 0% finishes in June but we need to renovate house our and this is my motivation to clear the balance sooner. Our debt on the cards was incurred mainly when we bought the house due to new boiler amongst other things.

I was just interested in the prepaid card to see if it made us a bit more conscious of what we were spending. We're lucky to have a disposable income but We're aiming to reduce that and pay the card off early.

The credit card I currently use to purchase groceries is laid off in full every month. The money is also set aside on pay day before it's actually spent. The credit card is is used just to keep groceries separate from bills and other spends.

jonesMUFCforever

What about the cost of obtaining and topping up a pre paid card?
IMO previous poster idea about a basic account debit card would be better for you.

oopsadaisydoddle

jonesMUFCforever wrote: »

What about the cost of obtaining and topping up a pre paid card?
IMO previous poster idea about a basic account debit card would be better for you.

Ah I see what you mean! Sorry O4U. Head fuzzy from being up most of the weekend with poorly DD!

I can see that the AA card gives rewards which I thought might be good.

Thanks again.

alanq

oopsadaisydoddle wrote: »

I can see that the AA card gives rewards which I thought might be good.

Indeed. If you comply with certain conditions then you need to pay no fees and get points valued at to up to 0.50% of what you spend.

The AA Spend And Earn prepaid card account can have multiple associated cards.
"Can I order an additional card by logging in online?

An additional card can only be ordered by customers with a card with the upgraded £3,000 limit. These can be ordered online by going to the 'Additional cards' tab. "
http://www.theaa.com/prepaid-card/faqs.html#Costs,feesandtariffs


The funds are not in one pool however. Deposits go into an account and are then distributed to each card either automatically as pre-specified (say 40% to Card A and 60% to Card B") or by performing online transactions.

wolfwanderer

Don't go near FairFx!
Non existent customer service.
They claim to be available 24/7 by email. The fact that they are not, cost us a holiday.

And when you do get in touch they lie through their teeth.
Caxton have a dedicated CS line. Fairfx don't give a damn.

kerry87_2

wolfwanderer wrote: »

Don't go near FairFx!
Non existent customer service.
They claim to be available 24/7 by email. The fact that they are not, cost us a holiday.

And when you do get in touch they lie through their teeth.
Caxton have a dedicated CS line. Fairfx don't give a damn.

I have a freedom pre-paid mastercard which serves me quite well...

Anthorn

If you still want to go with a prepaid card, Kalixa is free to use within U.K. if you pay into it in cash at any branch of Barclays Bank or by BACs via your internet banking and never use ATMs. The drawback with paying in at Barclays is it takes up to 7 working days for the money to reach your account. Up front fee is £6.95p and renewals are free for active users.

www.kalixa.com