Free Prepaid Credit Card

There are a wide range of prepaid credit cards available in the UK. Whilst most prepaid cards require an initial fee there are still companies who are willing to offer the cards free by covering the cost of production and delivery themselves. With so much competition in the prepaid credit card market, some companies look to increase their exposure by offering no application prepaid cards that are free to customers.

Another way some prepaid card providers do it is to offer new customers a required initial top-up charge of say £10, which in turn wavers the application fee. The majority of no application free prepaid cards are prepaid Mastercards, but there are some Maestro and Visa cards available also.

If you’re looking to choose a free prepaid credit card then it is worth paying attention to the prepaid card fees. Whilst you may be receiving the card free, you need to ask yourself how you plan to use the card as all prepaid accounts charge either a monthly or per transaction fee, or in some cases a top-up credit card fee.

The benefits of using a free prepaid card (or any prepaid credit card for that matter), are that you have the ability to pay for good without the need to make a cash payment, you simply hand over the plastic and the amount is subtracted from the balance on your account. Due to the fact that the cards are always loaded with funds in advance, you can only spend the available card balance. This means that unlike traditional credit cards you can never spend more than what you’ve loaded on to the card, so no nasty fees for overspending and unathorised borrowing charges!

Another major benefit is, that because a prepaid card isn’t a facility for credit, there are no credit checks passed when making your application. When applying for a prepaid card you are only required to prove your identity and address similar to if you were applying for a passport or driving license. If you can prove your address and identity, then you’ll be automatically accepted for a prepaid credit card.

There are a number of free prepaid credit cards available in the UK, with many card issuers tailoring cards to specific age groups and users. There are some free prepaid cards designed specifically for teenagers, with conditions and benefits aimed at benefiting them the most. There are other cards designed purely for business people, with higher reload limits.

When deciding on which prepaid card is right for you it is worth having a think at what you plan to use the card for, and how regularly you intend to use it. This will enable you to pick a prepaid credit card that best serves you for your own personal needs and requirements.