The Newcastle Building Society has claimed that more and more people will now start to use prepaid credit cards in order to better cope with credit card debt during the uncertain economic climate.
Consumer debt levels are climbing, and the Newcastle Building Society has predicted a 10 per cent increase in prepaid credit cards amongst people with individual voluntary arrangements by 2012.
The head of card solutions at NBS, Kriay Patel, reportedly commented: "The popularity of prepaid cards over the last couple of years is astounding. We have currently issued 2.3 million cards across the UK and within Europe. The safety offered by the cards is also appealing within the teen, travel and online community, protecting access to people's money and identity."
Prepaid credit card usage will grow
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Prepaid credit card usage will grow
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