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$Plain English advice guide helps Britain\'s credit card holders$

Plain English advice guide helps Britain's credit card holders

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8 Ways Prepaid Cards Can Help Your Finances

Prepaid cards have become increasingly popular in recent years. With identity theft and online fraud on the increase, not to mention improvements to the features available on the cards themselves, prepaid cards are now far more attractive to consumers than they once were.

Here are eight ways in which prepaid cards could help your finances:

No Purchase Charges

Credit and debit cards will charge you for making purchases abroad; the right prepaid travel money card will not.

Security

Travel money cards can help you stay safe when travelling. They are typically safer than carrying a large amount of cash around with you on holiday. Plus, because they are pre-loaded cards, should you lose the card you will not be at risk of fraud because none of your bank account details are included.

Easy Top Ups

Advances in technology now mean that prepaid money cards can be topped up easily. Most offer the ability to top up via an ATM machine worldwide, while others also offer the ability to top up credit via mobile phones.

Exchange Rates

Although not true of all cards, prepaid money cards often offer better exchange rates compared to traditional debit or credit card transactions. Many credit and debit cards add a three percent cost to the exchange rate, travel money card providers often do not add this.

Fewer Withdrawal Fees

Again, not true of all prepaid cards, some new cards do not charge for use abroad.

Budgeting

If you are looking to save money, travelling abroad with a prepaid card can help your budget stretch a little further as there are fewer additional charges. One of the real benefits of travel money cards is that if you have a budget in mind before you go away, you could pre-load that budget onto your card so that you can plan to stick to it while away.

Bad Credit History

The Credit Crunch has left many with a bad credit history. People with a bad credit history may struggle to gain access to credit cards, however, that is not the case with prepaid cards. They are not credit cards and there is no borrowing of money involved, however, prepaid cards do offer customers the same benefits as credit cards.

Offers

Many prepaid travel money cards offer additional benefits to consumers. For example, Ryanair has just launched a new card that waives the £6 admin fee they charge passengers using other debit, credit or prepaid cards to book flights with them. Many other prepaid cards, such as the Vodafone prepaid card offer discounts on mobile phone top-ups, too.

Compare pre-paid cards on Moneyextra.com

Moneyextra.com recommends you take independent financial advice before acting on any article

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Moneyextra.com's Top Picks

Barclaycard - Platinum Credit Card with Balance Transfer
	Balance Transfers	Purchases	Representative APR (Variable)	Benefits
	0% for 22 months (2.9% fee)	0% for 3 months	17.9% APR	Cash Advances - 27.9% Free Purchase Protection Max Purchase Protection: £5000
Representative example: assumed borrowing of £1200, representative 17.9% APR (variable). Purchase rate 17.9% PA.				Details

Royal Bank of Scotland - Platinum MasterCard
	Balance Transfers	Purchases	Representative APR (Variable)	Benefits
	0% for 22 months (3.2% fee)	0% for 6 months	17.9% APR	Intro Cash Advances 28.0% for Life Internet Fraud Protection
Representative example: assumed borrowing of £1200, representative 17.9% APR (variable). Purchase rate 17.9% PA.				Details

Halifax - Balance Transfer Credit Card MasterCard
	Balance Transfers	Purchases	Representative APR (Variable)	Benefits
	0% for 22 months (3.5% fee)	0% for 3 months	17.9% APR	Intro Cash Advances 28.0% for Life Internet Fraud Protection
Representative example: assumed borrowing of £1200, representative 17.9% APR (variable). Purchase rate 17.95% PA. 0% for the first 22 months on balance transfers up to £3,000. You must have an annual income of £20,000 or more to apply				Details

Barclaycard - Platinum Balance Transfer Visa
	Balance Transfers	Purchases	Representative APR (Variable)	Benefits
	0% for 21 months (2.6% fee)	0% for 3 months	17.9% APR	Cash Advances - 27.9% Free Purchase Protection Max Purchase Protection: £5000
Representative example: assumed borrowing of £1200, representative 17.9% APR (variable). Purchase rate 17.9% PA.				Details

Virgin Money - Credit Card MasterCard
	Balance Transfers	Purchases	Representative APR (Variable)	Benefits
	0% for 20 months (2.99% fee)	0% for 3 months	16.8% APR	Intro Cash Advances 27.9% for Life Internet Fraud Protection
Representative example: assumed borrowing of £1200, representative 16.8% APR (variable). Purchase rate 16.8% PA.				Details

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Plain English advice guide helps Britain's credit card holders

Credit cards 'are not a solution to debt problems'

Top tips for managing your credit card

Brits need an extra day in the week to get everything done

8 Ways Prepaid Cards Can Help Your Finances

Balance Transfers

Purchases

Representative APR (Variable)

Benefits

Balance Transfers

Purchases

Representative APR (Variable)

Benefits

Balance Transfers

Purchases

Representative APR (Variable)

Benefits

Balance Transfers

Purchases

Representative APR (Variable)

Benefits

Balance Transfers

Purchases

Representative APR (Variable)

Benefits