Compare Credit Cards with CardSmart

Pre-Paid Credit Cards

PrePaid cards do not require any credit checks or proof of income so they are a quick and easy way to benefit from the convenience of a credit card without the risks of accruing debt. They work in much the same way as a mobile phone top-up card does - except the account holder loads money onto the card. PrePay cards do not charge interest. These cards are ideal if you need to make purchases with a MasterCard or Visa but are prohibited from owning a standard credit card. Many card accounts allow additional card holders as young as 13 making them a safe way to share money with the family.

Prepaid Cards

Purchase Fee Monthly Service Fee Transaction Fee Load Fee - Retail Outlets  
cashplus gold MasterCard (Activeplus) Logo cashplus Logo More information about cashplus gold MasterCard (Activeplus)

cashplus gold MasterCard (Activeplus)

£4.95 £4.95 Free Free using cash at most retail outlets (£2 fee at e-pay outlets)
Freedom PAYG Prepaid MasterCard Logo Freedom Logo

Freedom PAYG Prepaid MasterCard

£9.99 Free 2.75% (min 99p, max £1.50) PayPoint: 3%, Post Office: 2% min 99p, Wages/Bank Transfer: £1, Card to Card Transfer Online: Free
Escape Prepaid Mastercard Logo Phones4U Logo More information about Escape Prepaid Mastercard

Escape Prepaid Mastercard

£9.99 Free Free Free at Phones4U and by bank transfer. 3% at Paypoints.
** Earn up to 20% cashback **
Freedom Mixed Tariff Prepaid MasterCard Logo Freedom Logo

Freedom Mixed Tariff Prepaid MasterCard

£9.99 £1.95 20p PayPoint: 3%, Post Office: 2% min 99p, Wages/Bank Transfer: £1, Card to Card Transfer Online: Free
Freedom Monthly Prepaid MasterCard Logo Freedom Logo

Freedom Monthly Prepaid MasterCard

£9.99 £3.95 Free PayPoint: 3%, Post Office: 2% min 99p, Wages/Bank Transfer: £1, Card to Card Transfer Online: Free.
cardOne Prepaid MasterCard Logo cardOne Banking Logo

cardOne Prepaid MasterCard

£12.50 £12.50 Free Free at Natwest and by BACS. £1 at Post offices.
Bread Prepaid Mastercard Logo Newcastle Building Society Logo More information about Bread Prepaid Mastercard

Bread Prepaid Mastercard

£7.50 Free 2% Free at Post Office. 3% at Paypoint.
Virgin Prepaid Visa Monthly Logo Virgin Money Logo More information about Virgin Prepaid Visa Monthly

Virgin Prepaid Visa Monthly

£9.95 £4.75 Free Free Online and at Post Office. 2.75% at Paypoint.
Representative Example: N/A APR representative ( ). Based on a credit limit of   and   rate N/A p.a( ).
Virgin Prepaid Visa PAYG Logo Virgin Money Logo

Virgin Prepaid Visa PAYG

£9.95 Free 2.95% Free Online and at Post Office. 2.75% at Paypoint.
Representative Example: N/A APR representative ( ). Based on a credit limit of   and   rate N/A p.a( ).
Secure Trust Bank Prepaid Bank Account Logo Secure Trust Bank Logo

Secure Trust Bank Prepaid Bank Account

£12.50 £12.50 Free Free at Payzone and Online.
** A full account complete with Direct Debits and Standing Orders **
ClearCash PAYG Prepaid Card Logo ClearCash Prepaid Cards Logo

ClearCash PAYG Prepaid Card

£4.50 Free 2.5% Free at Post Office. 3% of value at Payzones, Limit £500
White Eagle Prepaid Maestro Card Logo White Eagle Logo

White Eagle Prepaid Maestro Card

£4.95 £3.95 Free 3% at PayPoint, £1 Wages/Bank Transfer.
Representative Example: N/A APR representative ( ). Based on a credit limit of   and   rate N/A p.a( ).
Optimum Prepaid Pay Monthly MasterCard Logo 360money Logo

Optimum Prepaid Pay Monthly MasterCard

£9.95 £4.95 Free Free online or at Post Office. 3.0% at Paypoint.
ClearCash Prepaid Mastercard Logo ClearCash Prepaid Cards Logo

ClearCash Prepaid Mastercard

£4.50 limited time offer £9.99 Free Free at Post Office. 3% of value at Payzones, Limit £500
** FREE Purchase Protection Cover **
 
A guide to Prepaid Credit Cards

A prepaid credit card provides the ease of paying with plastic with the reassurance that you are only spending what you have on the card.

Image for guide: Prepaid Credit Cards

Prepaid credit cards can be used for shops and services in the same way that usual credit cards are.

Limit your spending to a budget

One way to keep a tight rein on expenses is to opt for a prepaid credit card. Put money onto the card before spending and you will receive the benefits of a credit card with the peace of mind that you are spending money you actually have.

Who can benefit from a prepaid credit card?

Young people who want the convenience of card payments but need to remain within a budget.

Anyone who wishes to budget using money they already have. Anyone who has been refused credit but still wants the convenience of a credit card. You may find pre-paid cards much easier to get than credit cards.

How can you use this product?

Prepaid credit cards can be used for shops and services in the same way that usual credit cards are. You will have a PIN that is unique to your card. Input this number at the cash desk as normal, and the total amount of your purchases will be taken from the card straight away.

When shopping online, fill in the details of your card as usual and as long as there is enough money on your card the transaction will be completed.

Some fees are associated with the card, such as:

  • A £5-£10 cost to buy the card.

  • Some have annual or monthly charges.

  • Some charge to load the card. Check the small print as there is quite often at least one free option to this.

  • There are charges on overseas transactions and on cash withdrawals from an ATM. A few cards also charge on UK transactions so look around for one that doesn’t.

The benefits to the user are:

  • There are no credit checks, which means you gain access to a card without worrying about your credit history. However, card providers will check that you are who you say you are.

  • No danger of getting into debt as you can only spend what is loaded onto the card.

  • You won’t be charged interest.

  • There will be no late payment fees.

  • You will have the convenience of shopping with a credit card.

Other people can also load money onto this type of credit card. For instance it is popular with parents wishing to help their children and keep them to a budget. It is also possible to have your salary loaded onto the card.

It is also possible to have a secondary cardholder but this often comes with a fee and the primary cardholder is responsible for the account.

Card fraud

If your card is stolen it is essential to inform your provider immediately as they will block your card. The card can’t be used without a PIN and in the event that it is, only the amount loaded on the card can be used. This can be distressing if your salary has just been paid onto the card so shop around to see what the card policy is regarding fraudulent use and if there is any insurance against this.


Credit Card News

Credit Card Guides

Spending is driving economic recovery

An increase in consumer spending is helping to lead an economic recovery. Read more...

New ways to pay in 2013: How mobile and contactless technologies are changing the way we pay

There are many new ways to pay for purchases with the technology you use every day. From mobile... Read more...

More from the CardSmart News Desk

More guides

Some important information about this page

The content and information on this website are intended as general information only and shall not be construed as financial advice or recommendations of any nature in accordance with the Financial Services and Markets Act 2000 nor is it intended to address specific financial requirements. We strongly recommend that you seek independent financial advice before using and/or relying on the information made available to you or prior to purchasing any financial product/service listed on the Website. Whilst every attempt has been made to ensure that the content and information published are true, correct and up to date, no warranty, guarantee or representation is given as to its accuracy, reliability or fitness for a specific purpose.

The Best Buy credit card comparison tables feature financial products/services of our advertisers and may not necessarily constitute the best offers in the market for each of such products/services.

Copyright © CardSmart Ltd 2009 - 2013. All Rights Reserved | Privacy Policy | Terms

"CardSmart" and the CardSmart logo are registered trademarks of Smart Online Marketing Ltd. Company registration no: 08430745