Protect your bread from the Bread Card

Psycho_mantra

I recently applied for a Bread card and it came to me pretty promptly in the post but since then I have been plagued by endless problems regarding activation and usage. They are trying to be helpful but aren't very helpful at all.

Anyway, my post is not a Bread Card whinge but rather that I was on one of the sites that compares prepaid cards and was just comparing the fees charged by all the card providers and noticed that Bread was not just the cheapest but the cheapest by a big margin. Which is good right - NOT REALLY!!.........

I started looking at the fees charged by some of the oldest providers including some of the big brands like Splash plastic, Virgin Money, Cashplus and noticed that Bread was just so cheap that I am absolutely sure that they are probably making a loss!!

Now why do I care - well i do because if i have to put my money on this card - how much should i put - £10, £20 more?? less? What if this company goes bust??? Prepaid card providers are not covered by the financial compensation scheme like credit.debti cards - so if thsi firm goes bust, my money is one.

Would i want to put my salary on such a card as some people do? I DONT THINK SO!!

I was just wondering what the experience of other prepaid card users has been. I personally love prepaid cards and defend their usage as a good product every time but this Bread Card confuses me and i certainly dont think it is a good idea to put my money on such a card.

Other providers have been in the UK and US for ages and either they are cheating us or Bread are providing us with an ultra cheap card - and when they have like a million cards out there - they will raise the prices!! (and that is if we are lucky) - the more likely scenario is that they will go bust and disappear like 100 of prepaid card providers have done - see some names below

Vista Global, Ekasse (never any prepaid cards), Fransabank, WSR, Caribpay, Harvest Capital (no prepaid cards delivered), Afripay, Direct Pay International, World2Call, Freecashcards/Netpay, IPC Shopping, Prima Verkauf, DiscreetCard, Gold2Cash, Cambist, WMCards, GoldNow, Privy-Pay, LGE, Eurochamber, The PV Card, PoolOfGold, Deep Thought Sovereign prepaid Mastercard, GoldenDebitCard, GlobalXChange, SoloPay, ZeroCards, Gold ATM, Internet Currency Corp, TheGoldShop, Giftcard Online, ExactPay, Ecaid, Uniclear, VisaElectronCard, XL Card, Dukascopy, Freedom-Cards, GoldAfrica, MygCard, E-Fidex, Panama IBC, e-Ls & Nonamecard (prepaid debit card never received). Also never received Can Card prepaid Mastercard.

Either way - my recommendation is to steer clear of the Bread prepaid Card!!