Prepaid Credit Cards

Many people today are worried about carrying large amounts of cash when they go on holiday, and although you could use a regular credit card when you go away, many people are now opting to use a prepaid credit card at this time instead.

Prepaid credit cards let you put any amount you like onto a card which can then be used in the same way as a regular credit card. For the purposes of using it, the security is the same, however, if someone did manage to clone or steal your card, they would be sorely disappointed by the amount that they could buy with it as the limit on the card is dependant not on a credit limit as with a regular card, but on how much money you choose to have available there.

There is no risk of them getting your regular banking details and running up a vast bill which you then have to pay back. All you would lose would be the amount remaining on the card at the time that it is stolen or cloned.

Not all prepaid cards are the same, and if you’re planning on using your card abroad it’s important to choose one which will be accepted readily in the location you are travelling to. Maestro, Visa and other options are available and which one will be most suitable to you will depend on your chosen destination.

Many issuers of prepaid cards designed for use when travelling offer emergency card or cash replacement facilities too, so if the worst does happen and your card is stolen, you will know what to do and won’t be left penniless.

Most prepaid travel cards are available in Euro or US Dollars as well as Pounds Stirling, with one or two even offering a card which can be used anywhere in the world. This makes it much easier to manage your money while you’re away, as you know how much you put on there in your own currency, but while you’re there, you’re working in the local currency. Another advantage here, is that you generally don’t pay any foreign exchange rate fees either, just your normal percentage fee’s when you make a transaction.