Prepaid Cards that Deliver – Moving Beyond the Hype
Divya Sharma is the author and senior editor at Prepaid365 – the UK’s prepaid card comparison portal and an expert in the prepaid card industry. Visit http://www.prepaid365.com to review the BaBeeCard, Rational FX, Caxton FX and Virgin Money Prepaid Cards.
Prepaid Credit Cards or simply prepaid cards as they are also known have been creating waves and hype. The financial service equivalent to the mobile phone prepaid card means that you can load money on to the prepaid card and then use that card to spend online, in-store and over the phone wherever your card is accepted.
Getting a card is extremely easy – there are no credit checks, no bank account requirements. Simply produce some valid ID and a valid address and the cards in your back pocket sooner than you know it.
Everyone Loves Prepaid – Maybe Not!
Yes, it’s true. For all the power of the prepaid card and all the wonderful benefits of prepaid cards, prepaid cards attract a lot of criticism as well.
The simple reason is that typically, prepaid cards have a small fee attached to loading and using the card. Strangely enough, this fee is typically very small but not small enough to prevent the media going all gung ho on it and criticising the entire concept of prepaid. We are so used to the idea of free banking, that the mere thought that we actually have to pay for a little bit of added value service seems to be unacceptable.
Prepaid Cards Fighting Back
Well, it seems that Prepaid Card companies are fighting back by providing us with added value propositions so that are protestations melt away. Leading the fight are the BaBeeCard, the Rational FX Travel Money Card, the Caxton FX Travel Card and the Virgin Money Prepaid Card.
1. BaBeeCard
Top of the hoop would be the BaBeeCard. Should really have been called the “Mummy card” because it is the one card in the market which delivers exceptional value to mummies – young, old and expecting.
With numerous discounts on shopping like Argos, ASDA, Alton Towers, Boots, Buyagift, Comet, Carphone Warehouse, Debenhams, JJB Sports, Halfords, H.Samuel, House of Fraser, Homebase, HMV, Legoland, Mothercare, Ocado, Sainsbury’s, Selfridges, TopShop, Waitrose, WH Smith and many many more, the BaBeeCard can typically deliver a saving of GBP 831.95 across your grocery and petrol shopping alone.
Difficult to argue against that one – eh, Mr. Cynical Media Maverick!!
2. Rational FX Travel Money Card and Caxton FX Prepaid Card
Travel money from specialised FX providers like Caxton FX and Rational FX means you get a fantastic exchange rate which is way better than the high street exchange rate. Exchange rates at the Airport are plain murder and should be avoided at all costs.
Now take this market leading exchange rate and put the currency on a card and what do you get?
Well, quite simply, a free card with the best exchange rate in the market delivered on a convenient secure card in multiple currencies ready to deliver savings and security when you use your card at over 28.5 million locations worldwide.
The media does quite like travel cards but not as much as they are loved by consumers and travel cards along with money transfer cards represent the fastest growing segment of the market by far
3. Virgin Money Prepaid Card
Take a market leading brand which every consumer would love to be associated with and carry in their pocket, which has numerous different stores and product offerings across which it offers a 10% discount to its cardholders and add to it, the prestige of having a product that looks and feels exactly like the “best buy” credit card solution provided by the same provider and what do you get?
Well, the totally delicious Virgin Money Prepaid Card, of course.
Three wonderful prepaid card propositions that are changing the context of prepaid.
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