best card for budgeting?

Hi everyone

Hope you can help me.

I started tackling my credit card debt recently, and one of the ways I did that was using Monzo. They had a prepaid card, and I used it to transfer any spending money i had for the month onto it and really get my spending under control. I managed to half my credit card debt using this.

The issue? Monzo are now in the process of turning everything into proper bank accounts. While I understand that's great for them, it's a bit annoying for me. I don't reallllyyy trust myself to go back to any sort of credit card and if Monzo is just going to be a normal bank then I might as well just open a new account with my current bank and use that.

I'm hoping to have the debt paid off a few months after Christmas, but I'd really like any recommendations for alternative pre-paid cards to use in the meantime :)

Comments

  • And also any advice about alternatives to a pre-paid card which could work better for me would be awesome!
  • SnowTiger
    SnowTiger Posts: 4,458
    First Anniversary Name Dropper Photogenic First Post
    Forumite
    NewlandA wrote: »
    And also any advice about alternatives to a pre-paid card which could work better for me would be awesome!

    Loot?

    The card is free, no fees for purchases or top-ups via bank transfer or debit card.

    £1 for each cash machine withdrawal after the first two months.

    They offer online account access and an app.

    There's also a feature that will let you set a weekly budget.

    Revolt is another top up and spend card, with a few fees. Card costs a fiver, no charge for topping up via a bank transfer or debit card. No fees for the first £200 of cash machine withdrawals.

    And Pockit. Most things are free or cost 99p. There's a 99p fee for the card, top-ups via debit card and cash machine withdrawals. No fees for purchases and top-ups via bank transfer. Pockit also offers cashback at some stores.

    All figures based on UK use. Check the fee tables if you plan to use abroad.
  • Why would the status of where the money is held make any difference?

    Nothing changes from your side (besides being given a new card).

    You can continue to use the app the same as before, and continue to only top-up when you want to, as before.

    Features like Direct Debits will now be there, but you don't have to use them...
  • It's a psychological thing, it ties in with how my mind approaches finances.
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 342.5K Banking & Borrowing
  • 249.9K Reduce Debt & Boost Income
  • 449.4K Spending & Discounts
  • 234.6K Work, Benefits & Business
  • 607.1K Mortgages, Homes & Bills
  • 172.8K Life & Family
  • 247.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards