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It has been argued our education system has failed to teach children the basics of personal finance. However, parents concerned about their children’s ability to use money responsibly and are afraid to grant access to their own credit card, may see a prepaid card as useful training tool. More...
It is safe and cannot be abused beyond the limit of funds on the card. A prepaid card offers the parent and the child control over the spending and at the same time teaches them the basic principals of using plastic.
Being unable to make a hotel reservation or rent a car can be at best awkward and at worst embarrassing. A prepaid card, provided by the likes of Visa or Mastercard, will ensure you have a means of doing both, so long as you have the necessary funds to cover the booking, of course.
Ran out of petrol or had a visit from the TV licence inspectors? Cash emergencies can arise at any time and usually at very short notice. Perhaps you are miles from an ATM machine and need money fast. A prepaid card can get you out of a tight spot if used for the purpose of life’s little emergencies.
If you don’t feel comfortable carrying pocketfuls of cash around, a prepaid card can be used to withdraw funds at ATMs whenever the need arises.
Have your employer pay your wages onto your card or alternatively use it for work expenses.
Gift givers (approved by parents for under 18s) can also fund the card for general purpose spending or with virtual gift certificates for spending on specific items or locations.
You can use your credit card for bill payments over the telephone or online. Making purchases online is becoming more essential than ever, especially for making flight reservations or hotel bookings. Now with a prepaid card, you can enjoy the convenience of shopping online without having to borrow a credit card or risk running up your own credit card bill.
