Re: Pros and cons of Prepayment Credit Cards

Who me? wrote:

> Im thinking of getting a Prepayment Mastercard from mycashplus.co.uk
> As far as I know I don't see any catches apart from a monthy fee of £4.95p
> and a minum topup of £10.00p.

You don't get the protection that normal credit cards provide as it is a
debit card, not a credit card.

If you are able to get a debit card this would be cheaper and give you all
the same benefits.

> Also, Will I be able to use this online like a normal credit card?

Most likely, yes.

Make sure it is from a reputable company, and not a scammer who is going to
run away with your money.

Re: Pros and cons of Prepayment Credit Cards

>
> If you are able to get a debit card this would be cheaper and give you all
> the same benefits.
>
One thing i dont understand is why a basic account doesnt have a debit card,
after its not a credit card and you can only draw funds from the account if
the funds are there to draw on.
Perhaps its because debit cards are often mulipurpose cards and they cant
be bothered to offere simplky a debit card.
A debit card would help banks see a customers spending habits and enable
them to offer the customer better facilities as the situation improves.

Re: Pros and cons of Prepayment Credit Cards

On Mon, 10 Jul 2006 17:18:47 GMT, "linkuk" <> wrote:

>>
>> If you are able to get a debit card this would be cheaper and give you all
>> the same benefits.
>>
>One thing i dont understand is why a basic account doesnt have a debit card,
>after its not a credit card and you can only draw funds from the account if
>the funds are there to draw on.
>Perhaps its because debit cards are often mulipurpose cards and they cant
>be bothered to offere simplky a debit card.
>A debit card would help banks see a customers spending habits and enable
>them to offer the customer better facilities as the situation improves.
>

Some banks do, for example Natwest will give a basic account with a
SOLO debit card pretty much regardless of credit history.

Re: Pros and cons of Prepayment Credit Cards

On Mon, 10 Jul 2006 20:03:19 GMT, Ronald Raygun
<> wrote:

>Damot wrote:
>
>> On Mon, 10 Jul 2006 17:18:47 GMT, "linkuk" <> wrote:
>>>
>>>One thing i dont understand is why a basic account doesnt have a debit
>>>card, after its not a credit card and you can only draw funds from the
>>>account if the funds are there to draw on.
>>>Perhaps its because debit cards are often mulipurpose cards and they cant
>>>be bothered to offere simplky a debit card.
>>>A debit card would help banks see a customers spending habits and enable
>>>them to offer the customer better facilities as the situation improves.
>>
>> Some banks do, for example Natwest will give a basic account with a
>> SOLO debit card pretty much regardless of credit history.
>
>Ah, but a solo/electron card isn't a normal debit card, it's a special
>one which is supposed to check funds are in the account before allowing
>a purchase. With normal debit cards, on-line checking is optional, and
>this makes them more flexible. Solo/electron are not universally
>accepted because of this.
>

Interesting, I didn't realise that. I always assumed all debit cards
checked your balance (I never use them, too dangerous IMO).