Keep your budget on track with a prepaid credit card
Tuesday, 2 August 2011
Anyone with a mortgage will no doubt be relieved that the Bank of England decided against raising interest rates in June 2011*. But with soaring prices comes the risk of inflation, which is currently running at around twice the 2% target. So in an effort to reduce the rate of inflation, the interest rate may still have to rise in the near future. So households that are already finding it tough to stay within their budget should start looking now to tighten their belt even further as soon as possible.
One way to keep a tight rein on spending is to use a pre paid credit card, such as the Cashplus prepaid Gold MasterCardŽ card. That's because they can be a great budgeting aid and there's no interest or unexpected penalties to bite into the customer's hard-pressed money.
For example, to help make ends meet the prepaid cardholder could top up their card's account with their monthly food budget as soon as they're paid or when they receive their state benefits. By 'jam jarring' their money in this way, it becomes easier not to overspend.
To keep an even closer view on where money's been spent and what's left, most prepaid card companies provide free online access to statements. To help customers who are out and about and not quite sure how much is left, some prepaid cards also provide this vital information by text or over the phone.
When the prepaid card's balance starts to run low, topping up is simple. In fact, with some prepaid cards, the cardholder can just pop into any UK Post OfficeŽ branch and hand over the cash that they want to put into their card's account, or at many stores throughout the UK. Either way, the service is free and it's quick and easy.
Making purchases and paying household bills is a breeze, as the card is welcomed wherever the MasterCard acceptance mark is displayed - from millions of stores around the world to websites offering money-stretching deals. And on those occasions when paying in hard cash will get the best deal, prepaid cards can also be used at most cash machines.
Any household that wants to stay on budget in these tough times should always remember to check out the internet to see if they can get a better price online. In fact, a Cashplus card can be particularly useful here for two reasons. Firstly, customers can save money on practically anything at their Cashback site. Secondly, the card provides free purchase protection - a valuable feature if the company the customer is buying from goes bust, the website turns out to be dodgy or the goods just fail to arrive.
Best of all, in these trying times, unlike with credit cards, getting a prepaid card is very straight forward, even for customers with bad credit. After a quick and easy application online, the card will be delivered in just three to five days. In fact, acceptance is guaranteed for anyone 18+ that lives in the UK.
So anyone that's looking to keep on budget, despite inflation and interest rate rise worries, should see what a prepaid card can do for them.
*Source: http://www.belfasttelegraph.co.uk/business/business-news/bank-of-england-chiefs-opt-against-interest-rate-hike-16015145.html
Subscribe to read full newspaper »
Send to a friend
Please complete the following form to inform a friend about this page.
