by Aashish Sharma

Created on: May 14, 2009

Prepaid cards or prepaid credit cards are fast becoming the preferred option for consumers who are wary of getting into debt, looking to travel abroad or are simply looking to shop online with a card that reduces the risk of fraud online.

Prepaid cards are also great for those who do not have a credit history (or not a good one anyway) and have been unable to open a bank account. For these individuals, a prepaid credit card functions as a virtual bank account with your prepaid card playing the role of your ATM Debit card.

Whatever your reason, the prepaid credit card market in the UK is growing and their are over 70 open loop (MasterCard or Visa branded) prepaid card products in the market along with the 100's of prepaid gift card's being offered by retailers. It is possible to buy prepaid cards online and offline via retailers and banks and even over the phone.

However, the best place to buy a prepaid credit card in the UK would be online through an aggregator site like the Prepaid365 prepaid card comparison portal. The reasons for this are quite simple:

1. You get a single view of the entire marketplace

2. You can compare prepaid cards and their fees as you like and even compare cards for specific sectors like money transfer, travel, gaming, payroll, expenses, youth, gifting, etc.

3. Comprehensive prepaid card reviews for each product mean you have all the information necessary to make an informed decision and

4. You still get the best deals online just like with any other product and the availability of prepaid cards in the retail environment where you can have a browse and a feel is still primarily limited to prepaid Gift Cards.

5. Choosing the right aggregator is of course important and this is where Prepaid365 stands out as listings and reviews are not based on affiliate links or payments but rather on the value that these products provide consumers

The use of prepaid credit cards is not limited to direct consumers only and a number of businesses including government organisations and local councils have started using prepaid cards to manage payroll, benefits and distribution of grants producing a reduction in costs and greater efficiencies.

The bottom line is that prepaid credit cards are here to stay and there is a distinct financial advantage or benefit for all consumers in one or the other. However, as the market grows, the choices become vast and this can be a little confusing at times but you can dismiss the clutter by using an online aggregator to review and compare prepaid cards as that remains the best place to buy a prepaid card.

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