Prepaid card use on the rise

Published on 1 January 1970 by Raffick Marday

Over 400,000 more people started using prepaid credit cards last year compared to 2008, new figures have shown.

The stats, from Canadian provider DirectCash, indicate that there are now over 3 million people using the pay as you go cards to help manage their finances.

Canadians used their prepaid cards to make online purchases, pay for bills and transport, as well as getting money from ATM machines.

Prepaid cards differ from regular credit cards, as they don't require a credit check before you can get one, so they're ideal for people with bad credit ratings.

All you need to do is load the card up with cash or benefits and then spend as you please until the money runs out.


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