According to online payment provider PayPal, using a prepaid credit card when on holiday could help to curb credit card spending. Using a prepaid card as opposed to a credit or debit cards could help consumers stick to their budget over the bank holiday weekend.
The August bank holiday, this weekend, will see thousands of Brits spending out on their credit cards . Keeping tabs on spending whilst on holiday can be difficult, and Paypal advises that prepay credit cards allow a top up should the consumer run out of credit.
Prepaid credit cards have security bonuses, including the ability to cancel easily if lost or stolen. The MD of PayPal UK, Carl Scheible, reportedly commented: "In the current economic climate Brits may be looking for ways to be smarter with their holiday spending. By loading up a set amount of money people can ensure that they stick to a tight budget for the duration of their holiday; avoiding the headache of a huge credit Card bill when they return. A pre-loaded Card is also safer and more convenient than carrying holiday cash or travellers cheques . The Card will be protected by Chip and PIN and if the Card is lost, funds are secure, where a loss of cash is not."
Prepaid credit cards help consumers know limits
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Prepaid credit cards help consumers know limits
Thu, 21 Aug 2008
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