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Prepaid credit cards 'can save holiday makers money'

Prepaid credit cards could offer good deals for holidaymakers during the recession, it has been suggested.

More from Spending Money Abroad
1 June 2009

Prepaid credit cards 'can save holiday makers money'”

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The prepaid cards must be preloaded with money before they are used, giving holidaymakers the advantage that they cannot be tempted to spend more than they have while abroad.

The credit cards protect holders from fraud and theft because only the remaining balance can be spent if the card does fall into the wrong hands, according to the Independent.

Stephen Heath, chief executive of FairFX, told the paper: "The consumer gets a much better deal for their pound. It's more convenient and secure than cash."

According to Mr Heath, a family of four could save an extra $300 or 200 euros if they use a pre-paid card - the equivalent of a day's entry for the family to Disneyland Paris or Orlando.

However, it is important to check the fees on prepaid credit cards, the paper advised.

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