Prepaid cards. Should I use them.

GREYONE

With all the talk since COVID-19 about using credit cards, I am thinking of a prepaid card as an alternative to using my regular credit card for daily use on low-value purchases.

Since it's backed by Visa, am I right in thinking that it will be accepted in all outlets that Visa is?

Does anybody use this card on a regular basis and use it in a variety of outlets without any issue?

Lastly, are there any points to be wary of that can catch users out?

Thx
Greyone

easyasonetwothree

What's all the talk since COVID 19 about credit cards?
But yes, you'll be able to use a visa card anywhere that accepts visa.

Slinky

easyasonetwothree said:

What's all the talk since COVID 19 about credit cards?

My question too.

CliveOfIndia

I'm also curious about the "Covid" problem you're referring to.

But that aside, what are your reasons for wanting to stop using your ordinary credit card?  If a certain shop won't accept credit cards (not uncommon with some small independent places) then wouldn't a debit card (or even cash) be simpler for small-value transactions?

GREYONE said:

Lastly, are there any points to be wary of that can catch users out?

Just make sure you're aware of any fees that will be imposed.  Some prepaid cards will charge an admin fee, or a fee if you use it to withdraw cash at an ATM.  Not all of them, but some do, so just make sure you check.

Mark_d

I can't see why you'd want to use a prepaid card? From my experience there can be fees to load money, fees to withdraw money, and various other restrictions.
I tend to use credit cards for virtually everything.  I don't remember when I last use my debit card for anything other than cash withdrawal.

GREYONE

Slinky said:

easyasonetwothree said:

What's all the talk since COVID 19 about credit cards?

My question too.

COVID saw a serious outbreak of contactless card use.

CliveOfIndia

GREYONE said:

Slinky said:

easyasonetwothree said:

What's all the talk since COVID 19 about credit cards?

My question too.

COVID saw a serious outbreak of contactless card use.

I'm still intrigued as to why that means you don't want to use a credit card?  Contactless has been around for quite a few years now, not sure I understand the issue.

I can kind of, sort of, understand some people's reasoning behind not wanting to handle cash (though even that argument is tenuous at best), but I don't see why you wouldn't just use a credit card and/or debit card these days - for convenience, if nothing else.  And if you've got a debit and/or credit card anyway, I can't see any advantage to paying a fee to use a prepaid card.

NoodleDoodleMan

GREYONE said:

Slinky said:

easyasonetwothree said:

What's all the talk since COVID 19 about credit cards?

My question too.

COVID saw a serious outbreak of contactless card use.

As others have asked - what is the specific issue about using credit cards contactless - or debit cards for that matter ?

GREYONE

CliveOfIndia said:

I'm also curious about the "Covid" problem you're referring to.

But that aside, what are your reasons for wanting to stop using your ordinary credit card?  If a certain shop won't accept credit cards (not uncommon with some small independent places) then wouldn't a debit card (or even cash) be simpler for small-value transactions?

GREYONE said:

Lastly, are there any points to be wary of that can catch users out?

Just make sure you're aware of any fees that will be imposed.  Some prepaid cards will charge an admin fee, or a fee if you use it to withdraw cash at an ATM.  Not all of them, but some do, so just make sure you check.

We were asked to make use of contactless payments in preference to cash when covid startled. That was all I was refering to.

Firstly there are the benefits. Low threat if lost . Self imposed spend limit. I'm sure you know the score.

My current cc limit is £4K. I think having an alternative card can be beneficial. Without getting too dramatic financial and credit card fraud is getting more complex. I also think that having a card with low value is more appropriate for low value everyday spending.

As always ANY comments welcomed.

NoodleDoodleMan

"I also think that having a card with low value is more appropriate for low value everyday spending."

A debit card with a low ongoing balance which you can top up easily via a mobile app would tick that box.

GREYONE

NoodleDoodleMan said:

GREYONE said:

Slinky said:

easyasonetwothree said:

What's all the talk since COVID 19 about credit cards?

My question too.

COVID saw a serious outbreak of contactless card use.

As others have asked - what is the specific issue about using credit cards contactless - or debit cards for that matter ?

GREYONE said:

CliveOfIndia said:

I'm also curious about the "Covid" problem you're referring to.

But that aside, what are your reasons for wanting to stop using your ordinary credit card?  If a certain shop won't accept credit cards (not uncommon with some small independent places) then wouldn't a debit card (or even cash) be simpler for small-value transactions?

GREYONE said:

Lastly, are there any points to be wary of that can catch users out?

Just make sure you're aware of any fees that will be imposed.  Some prepaid cards will charge an admin fee, or a fee if you use it to withdraw cash at an ATM.  Not all of them, but some do, so just make sure you check.

We were asked to make use of contactless payments in preference to cash when covid startled. That was all I was refering to.

Firstly there are the benefits. Low threat if lost . Self imposed spend limit. I'm sure you know the score.

My current cc limit is £4K. I think having an alternative card can be beneficial. Without getting too dramatic financial and credit card fraud is getting more complex. I also think that having a card with low value is more appropriate for low value everyday spending.

As always ANY comments welcomed.

I have no issue with either. But I never use my debit card for payments, just ATM cash. As someone moving into retirement I want to minimise my exposure to increased risk. I think a prepay card does that. I have reduced my cc contactless limit down to £50.