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Prepaid credit cards 'to be launched by Phones4U'

Two new prepaid credit cards are to be launched this month by Phones4U.

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5 August 2009

Prepaid credit cards 'to be launched by Phones4U'”

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The phone company is offering the Escape card and the Neon card, which will have many of the benefits of a credit card with the additional bonus that users will not be able to spend more than they have because cards must be loaded up before they can be used.

Neon and Escape cards will be available at 450 Phones4U stores across the UK.

Users will be able to load wages or benefits straight on to the card and top up online, at Post Offices or at PayPoint locations.

Holders of the Neon and Escape cards can also get up to 20% cashback at stores such as BHS and Littlewoods when using the cards to pay online.

The move by Phones4U follows the recent launch of a prepaid card by O2 in partnership with NatWest.

As part of the service from O2, card holders are sent real-time balance updates to their mobile phones to help them to keep track of their finances.

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