Avoid Mountainous Charges this Holiday Season with Prepaid Cards

This post in Fair Investment highlights how choosing the right type of prepaid card for the Holidays can help consumers avoid a mountain of charges. Instead of using credit cards, consumers should use prepaid cards to make it easier to budget holiday spending. Prepaid cards can be used worldwide just like any credit card.

Peter Harrison, moneysupermarket's travel money expert recently mentioned:

"Prepaid currency cards are great for budgeting as consumers can only spend up to the value of funds that they load onto their card. Another advantage is that if lost, customers can have their card replaced, usually for a fee of around £10, with all the funds in tact."

Do you think consumers will end up using prepaid cards more than credit cards this holiday season?

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Good News for the Prepaid Industry

Fair Investment Company announced today that growth is expected for the Prepaid Industry. As reported in this article, their estimate is that the number of consumers in this industry will increase from 2.3 million to 7 million in the next two years. This amounts to approximately a tripling in the number of users. Fair Investment Company believes that the reason for the boom is the fear that individuals have in the current economy. Since there is no way to incur debt with a prepaid card, many feel safer using them instead of credit cards. Another notable point made by Phil Alcock, credit card expert for the firm, is that

"Parents looking for a way to educate their children to be responsible with their money find that prepaid cards provide an excellent teaching method because they give the child the chance to be independent and even purchase goods online, but there is a strict budget in place."

Whatever the reasons may be, the prepaid industry will not be experiencing the same recession that other industries may be facing.

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