Prepaid credit cards increase in popularity More people are signing up to prepaid credit cards as job security and rising living costs put extra pressure on households, it has been suggested.
Figures from EZPay, which offers a prepaid Mastercard, show that in March, the number of prepaid credit cards bought was almost 40% more than in February.And in April, the figure increased by a huge 92% from the previous month.According to the company, customers are signing up for the prepaid option because they are worried about job security and the increase in living costs, as well as changes to the UK’s tax credit system and increases in National Insurance.Paul Smith, Managing Director of EZPay, said prepaid cards allow users to “take control of their finances”.”You transfer money to the card without charges and use it like a traditional debit card without fear of going into the red.”Feedback tells us that many users would rather use a prepaid card than have to fork out overdraft fees every month to their bank.”Recently, David Rodger, Managing Director of the Debt Advice Foundation, said that Brits should be using current accounts instead of credit cards to help them avoid debt and boost their savings. 
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