Already established in the US, Prepaid credit cards are rapidly gaining popularity in the UK as well.
In the US they’re especially desirable, with College students and their parents and here are just a few reasons why.
With a Prepaid card you don’t have the risk of going into debt, high interest payments or late fees.
If parents are involved in finances they can easily add money to the card online, which helps concerned parents monitor how much a student is spending without getting too involved.
Plus students do not need parental consent to get a prepaid card like they do for a traditional one.
Another great thing about these type of cards is that they are usually part of the Visa or MasterCard debit network which makes them acceptable just about anywhere.
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