How a Prepaid Credit Card Can Help with Christmas
If you are worried about funding Christmas this year a good way to budget is through a prepaid credit card.
While most of the nation will be looking forward to the festive period after enduring a tough year of spending cuts, the means to do so may be more limited than usual.
Research by moneysupermarket showed over half of the nation is worried about how they are going to fund this year’s Christmas expenses.
To ensure you do not overspend and dish out more than you have got it is a good idea to make a plan and budget exactly how much you can afford. This can include how much you are able to spend on gifts, how much on food, and how much for extras such as Christmas parties and travel costs.
Prepaid Credit Cards
Once you have made your budget, load it onto a prepaid debit card to use as you would a normal credit or debit card to make purchases, or even take out cash from an ATM.
A prepaid money card can be purchased through specific retailers including most high street banks, and while they only cost up to £10 some card issuers will refund this once you have loaded the first amount of money onto the card.
All prepaid cards are protected from fraud as they require a PIN to make purchases through, and the card user is not charged for each individual purchase.
You can monitor your spending through the online facilities and you can spend free from the worry that you will unknowingly go into your overdraft or spend more than you have, as the card only allows you to spend the funds loaded onto it.
All consumers are eligible for a prepaid card as they do not require you to verify credit history.
You can also obtain multiple cards for different areas of spending, so overspending on Christmas presents will not prevent you from having a good Christmas lunch.