Prepaid credit cards help curb bank holiday spending

21 August 2008 / by Rachael Stiles
Taking a prepaid credit card on holiday instead of a debit or credit card can help Brits to control their spending and means there won't be a post-holiday credit card bill, online payment provider PayPal has said.

With the August bank holiday fast approaching, thousands of Britons will be heading off for a long weekend, either seeking out some sun on the continent or going somewhere closer to home, and a prepaid credit card can offer an easy way of keeping track of holiday spending money.

It can be difficult to keep tabs on spending whilst on holiday, with meals out and the kids clambering for a new bucket and spade, so PayPal recommends that people take prepay credit cards, which they can top up before they go, and even while they're away if needs be.

A prepaid credit card also offers a safer option to carrying around large sums of cash, as they can easily be cancelled if lost or stolen, and the credit on the card will be refunded by the card provider.

"In the current economic climate Brits may be looking for ways to be smarter with their holiday spending." said Carl Scheible, managing director of PayPal UK, and a prepaid credit card can help them do that.

"By loading up a set amount of money people can ensure that they stick to a tight budget for the duration of their holiday; avoiding the headache of a huge credit Card bill when they return.

"A pre-loaded Card is also safer and more convenient than carrying holiday cash or travellers cheques. The Card will be protected by Chip and PIN and if the Card is lost, funds are secure, where a loss of cash is not."

© Fair Investment Company Ltd