More and more consumers are looking to prepaid credit cards during the current economic downturn to get the convenience of a credit card without the risks of credit card borrowing .
According to one financial services website, fairinvestment.co.uk, as many as 2.3 million people in the UK have prepaid credit card holders, and they predict a booming market of up to 10 million by 2010.
Phil Alcock of fiarinvestment.co.uk was reported as commenting: "You top up the card with money and then use it to pay for goods, safe in the knowledge that you can never go overdrawn or into debt . Prepaid cards can be used just as a normal credit card, so on holiday, you can use the card to pay for meals out, activities, petrol for the hire car and to withdraw cash ."
Prepaid credit card market soaring
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Prepaid credit card market soaring
Mon, 04 Aug 2008
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