| Prepaid Credit Cards or simply
prepaid cards as they are also known have been creating waves
and hype. The financial service equivalent to the mobile phone
prepaid card means that you can load money on to the prepaid
card and then use that card to spend online, in-store and over
the phone wherever your card is accepted.
Getting a card is extremely easy - there are no credit checks,
no bank account requirements. Simply produce some valid ID
and a valid address and the cards in your back pocket sooner
than you know it.
Everyone Loves Prepaid - Maybe Not!
Yes, it's true. For all the power of the prepaid card and
all the wonderful benefits of prepaid cards, prepaid cards
attract a lot of criticism as well.
The simple reason is that typically, prepaid cards have a
small fee attached to loading and using the card. Strangely
enough, this fee is typically very small but not small enough
to prevent the media going all gung ho on it and criticising
the entire concept of prepaid. We are so used to the idea
of free banking, that the mere thought that we actually have
to pay for a little bit of added value service seems to be
unacceptable.
Prepaid Cards Fighting Back
Well, it seems that Prepaid Card companies are fighting back
by providing us with added value propositions so that are
protestations melt away. Leading the fight are the BaBeeCard,
the Rational FX Travel Money Card, the Caxton FX Travel Card
and the Virgin Money Prepaid Card.
1. BaBeeCard
Top of the hoop would be the BaBeeCard. Should really have
been called the "Mummy card" because it is the one
card in the market which delivers exceptional value to mummies
- young, old and expecting.
With numerous discounts on shopping like Argos, ASDA, Alton
Towers, Boots, Buyagift, Comet, Carphone Warehouse, Debenhams,
JJB Sports, Halfords, H.Samuel, House of Fraser, Homebase,
HMV, Legoland, Mothercare, Ocado, Sainsbury's, Selfridges,
TopShop, Waitrose, WH Smith and many many more, the BaBeeCard
can typically deliver a saving of GBP 831.95 across your grocery
and petrol shopping alone.
Difficult to argue against that one - eh, Mr. Cynical Media
Maverick!!
2. Rational FX Travel Money Card and Caxton FX Prepaid Card
Travel money from specialised FX providers like Caxton FX
and Rational FX means you get a fantastic exchange rate which
is way better than the high street exchange rate. Exchange
rates at the Airport are plain murder and should be avoided
at all costs.
Now take this market leading exchange rate and put the currency
on a card and what do you get?
Well, quite simply, a free card with the best exchange rate
in the market delivered on a convenient secure card in multiple
currencies ready to deliver savings and security when you
use your card at over 28.5 million locations worldwide.
The media does quite like travel cards but not as much as
they are loved by consumers and travel cards along with money
transfer cards represent the fastest growing segment of the
market by far
3. Virgin Money Prepaid Card
Take a market leading brand which every consumer would love
to be associated with and carry in their pocket, which has
numerous different stores and product offerings across which
it offers a 10% discount to its cardholders and add to it,
the prestige of having a product that looks and feels exactly
like the "best buy" credit card solution provided
by the same provider and what do you get?
Well, the totally delicious Virgin Money Prepaid Card, of
course.
Three wonderful prepaid card propositions that are changing
the context of prepaid.
|
