Best Prepaid Credit Card?

WoodruffsDad

MUDGUTS wrote: »

My mistake, it is 2.95%

Incidentally, I originally applied for the cashplus card but when I got to the last part where you pay, I found there is only one option and that is for the monthly fee card not the no fee card. When I phoned them I was told that this could be changed once you have the card.

Found this a bit misleading so I looked around a bit more and decided on the Virgin Card.

That's the same reason why I opted for the Virgin card. I prefer to have a bit added to each purchase rather than a fixed monthly fee whether or not I use the card!

empty_wallet_2

I've gone for the Cashplus card as on the comparison sites i looked at the came out the best and cheapest to run, yes you sign up as the £4.95 a month account but can change to the £1 a transaction account as soon as you get the card. They also appeared to be 1 of only 2 pre paid cards that offered purchase/fraud protection just like a standard card.

What i dont like though which is the same with all of them, is if you have money loaded on your card and cashplus go down the pan then you are not covered by the usual FSA insurance (like your bank account is) and stand to loose your money:eek: , so i would say dont load too much on them just incase it all goes bad.

tigerfeet2006

If anyone is still deciding on what card to get then this thread makes good reading as well

http://forums.moneysavingexpert.com/showthread.html?t=646187&page=3

tight_jock

We have the Virgin Mastercard and so far have had no problems using it.
:beer:

WoodruffsDad

empty_wallet wrote: »

I've gone for the Cashplus card as on the comparison sites i looked at the came out the best and cheapest to run, yes you sign up as the £4.95 a month account but can change to the £1 a transaction account as soon as you get the card. They also appeared to be 1 of only 2 pre paid cards that offered purchase/fraud protection just like a standard card.

What i dont like though which is the same with all of them, is if you have money loaded on your card and cashplus go down the pan then you are not covered by the usual FSA insurance (like your bank account is) and stand to loose your money:eek: , so i would say dont load too much on them just incase it all goes bad.

So, it's important to choose a safe one. It's highly unlikely that Virgin will "go down the pan"!

In any case, I don't load my card up with large amounts until immediately prior to a specific purchase. Normally it has about £35.00 on it: Ideal for small eBay purchases, iTunes songs etc.

NekoZombie

pre-reg wrote: »

Thanks...is anyone able to confirm this 100%?

your OH needs to speak to her credit card provider to informally confirm if this is the case, and you need to check with your OR that it would be OK.

barshamhillbilly

JulianCBrown wrote: »

Sorry to be picky, Mudguts, but it's 2.95%.

I'm with MUDGUTS on this one.
I have a coop basic bank account with visa electron. This is for my pay and dd's and standing orders & for everyday bills.
I also have a Virgin Prepay mastercard to put money on for christmas and car bills.
I know it cost 2.95% and know I pay £2.95 for every £100 I spend, but I can also use it to buy online at places that don't accept my visa electron from my coop account (which I have to say is still quite a few companies!).
The 2.95% adds up I know, but I can save more than that by shopping around online and purchasing stuff at the best rates where I would otherwise not be able to buy.

Virgin seemed the most up front and straight forward - you know exactly where you are, though if your balance on screen says £100, you must remember that you can only actually spend £97.13 !
It gets my vote. No probs so far and very easy to use. I top it up free every week with a standing order from my basic bank account.
Andy

Alicat_2

I know I am way behind on this thread, but my reason for thinking about a prepaid card was because for the second time my debit card has been cloned and a very large lump taken out of my bank account. This I will get back but it is beginning to become rather scary. I am very security savy - not a newbie at all. At least with a prepaid card if it gets cloned they can only take out what you have on it. But - having said that - I am worried regarding Lesley L 's experience. How can they put money by? I suppose the only option here is to throw away the card and go somewhere else.....

Top-ranking_bug_2

I have a Breadcard as my "other" bank is HSBC Basic which is a non-chip and pin, and can only be used at ATMs (or online banking with DD and SOs). If I want to buy something online, though, or pay for something over the phone etc. then the Breadcard is ideal. It does cost money to use it, with a percentage taken for each transaction. But my reasoning is that it is a lot cheaper to use than Credit Card interest, and you can only spend what's in there.

I have a standing order on my HSBC account to transfer money on to the card each month as that is the cheapest option.

colmac71

hi all
I have just received a Bread card

Fees seem reasonable, it's a Maestro card (Used to be known as Switch) so is generally well accepted.
I loaded £10 on to it at a PayPoint outlet - was charged 30p (3%) to put a tenner on it.
Used it online to pay for my mail re-direction, and was charged a 15p authority commission charge
So again in the right circumstances they can be useful
Think i'll also get a Virgin pre-paid card too - i like the idea of having 2 cards and from posts it looks as though these are the best 2 to get.