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Compare Prepaid Credit Cards With Money Pug

  • Money Pug allows you to compare all the best prepaid credit cards available on the market, so you can find the prepaid credit card that is right for you. No matter your reason for wanting one of these everyday cards, you can find exactly the card for you when you use our handy comparison service.

Who Might A Prepaid Credit Card Be A Good Idea For?

A prepaid credit card is an excellent choice for:

  • Teenagers learning responsibility and managing their own finances for the first time.

  • Most bank accounts for children and teenagers will come with a debit card. But your youngster may not yet have quite learned to curb all those shopping impulses, and so could easily drain a bank account entirely before they learn fiscal responsibility. With a prepaid credit card, teenagers can have a certain level of independence and can begin to learn how to manage their own money, while remaining under the watchful eye and controlling hand of their parents or guardians.
  • Parents can set a limit to make sure their teenagers don’t go wild on a spending spree, and keep an eye on their spending while allowing them a certain level of freedom and self-control.
  • A prepaid credit card could also be useful for a child on a school trip or excursion with friends. If they take cash, there is a risk that they can lose it. Lost cash cannot be recovered. A lost prepaid credit card, however, can be blocked as soon as its loss is reported. If you report the loss right away then you will likely be none the worse off for the misadventure.

  • Anyone with a spending habit that can quickly get away from them.

  • If you struggle with day to day budgeting and things are tight, you may find that you often have to dip into an expensive overdraft (or accidentally end up doing so on a regular basis). A prepaid credit card may work out far cheaper for you when this is the case. A prepaid card can be great for everyday spending. You can still get the same perks – discounts or cashback – that you can get with a debit or regular credit card, but you won’t have to worry about exceeding your budget.

  • People who do not have a bank account, and/or have a poor credit rating.

  • If you have struggled with your financial situation in the past, and have a poor credit rating, then you may struggle to get a bank account that meets your needs, or a regular credit card. A prepaid credit card could be the answer for those looking for a solution for everyday spending and a way to improve their credit rating. A Cashplus Creditbuilder card will help you curb your spending and learn to better manage your budget, while also building your credit rating every time you pay the monthly fee.

  • For anyone travelling abroad.

  • Specific prepaid credit cards also serve as prepaid travel cards. A prepaid travel card works like an electronic travellers cheque and while there will be a small application fee to take one out, they can work out cheaper than a debit or credit card for spending when abroad, as there is usually a lower, or no, transaction or withdrawal fees. Learn more about prepaid travel cards on the relevant page on this website.
  • If you an get a credit card then you should usually do so rather than opting for a prepaid card, but in the above scenarios, it could be your best option.


What Are the Benefits of a Prepaid Credit Card?

There are many benefits to a prepaid credit card, including:

  • The chance to keep a tight control on your spending and avoid overspending each month.
  • The chance to buy in shops without having to carry cash around, even if you do not have a bank account.
  • The chance to shop online even without a traditional debit or credit card.

How Much Do Prepaid Credit Cards Cost?

A wide range of fees are associated with prepaid credit cards. There is usually a charge for getting the card in the first place, called the application charge. Prices range between zero and around £10. Keep an eye out for special deals that waive the fee if you load them with a certain amount, or have other special offers. Sometimes, you can get a prepaid credit card for free so keep your eyes open.


Some cards also charge:

  • Inactivity Fees Don’t be caught out by the fact that certain prepaid cards may charge a small monthly fee if your card is not used for a period of time (e.g. three months). Make sure you keep your card running to use it in the most cost effective way.
  • Redemption Fees There may also be a fee involved in reclaiming any cash unused from your card. On average, it will cost around £10, so how much money there is left on the card will dictate whether or not it makes financial sense to reclaim it.
  • Fees can quickly add up so be careful when comparing and choosing your prepaid credit card and make sure you are happy with and aware of all the hidden costs.



PrePaid Credit Cards FAQs

What is a Prepaid Credit Card?
  • A prepaid credit card is simply a card, like a debit or credit card, that you can use to pay for goods and services. Unlike a debit card, however, a prepaid credit card does not take money direct from your current account. Unlike a traditional credit card, you will not be borrowing money. With a prepaid credit card, you will be spending money that you yourself have already loaded onto your card. If you need to add more to your card, you can simply top them up as you would a pay-as-you go mobile
How Does a Prepaid Credit Card Work?

When you choose and buy a prepaid credit card you will decide how much money you want to put on it. There is usually an upper limit for how much you can load onto the card. Since this sort of card is generally for everyday spending, you probably won’t have to put too much on it. You should think of these cards as an alternative to carrying around cash. You can generally use them in most shops – anywhere that will accept other forms of debit or credit card.

What Are Credit Builder Cards?

Some prepaid credit cards as mentioned above, can can also be used to rebuild your credit history if you have a poor credit rating. If you have been turned down for a debit or credit card because of this then one of these cards may be for you. There is usually a monthly fee and providing you pay it on time every month, your record will be improved. This can help you get back on track – but make sure you do not miss a payment of you will be right back to square one.

How Can I Top Up My Prepaid Credit Card?

You can top up your prepaid credit card in person by going into the Post Office or a Paypoint. You can also top them up in shops which accept them. With some prepaid credit cards you can top them up by telephone or with an SMS text, and sometimes you can have your wages paid directly onto the card. Those with a bank account will often be able to set up a direct debit or standing order to load up the prepaid card regularly. Not all of these methods are accepted by all cards, however, so it is important to check out which options are offered before choosing a particular prepaid credit card.

Can I get more than one card?

Yes, some let you take out additional cards for other people, e.g. family or friends. They can only spend the money added to their own card.

Can I go overdrawn on a prepaid card?

No, they do not let you borrow money in any way. You can only spend what you have already added to the card.

Who do we include in MoneyPugs PrePaid Cards comparison?

We include every UK prepaid cards you can load with pounds sterling from our panel of providers. . They are all either directly regulated by the Financial Conduct Authority. or providers that are partnered with a company regulated by the FCA.

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