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Prepaid card VS Credit card - What’s best?

Before deciding whether a credit or prepaid card is best for you, you'll need to have a good idea of how the two work. In a nutshell, to use a prepaid card, it must be preloaded, while with credit cards, you're essentially using borrowed money. Plus, there are pros and cons to both. For example, prepaid cards might be easier to get, but card fees can quickly add up. While credit cards can provide protection on your purchases, excessive spending may make it hard to pay back borrowed money.

What to do if your loan or credit application is rejected

Having your application for a loan or a particular type of credit rejected can be disheartening, leaving you feeling deflated or otherwise defeated.

However, it is more common than you may think and there are many proactive steps that you can take after your application has been denied, and they will form the focal point of this guide.

How to find the best prepaid cards?

What makes prepaid cards so appealing is they're easy to obtain, especially when compared to other payment card types like credit cards. They're also easy to use. Before making payments, you pre-load money to your prepaid card account. If you don't have money on your card account, you won't be able to use it as there's no credit or overdraft available.

Should you consider a bank account for your child?

On Christmas and birthdays, chances are your child will receive a couple of crisp bank notes tucked inside the deluge of cards. Although the temptation to blow it all immediately might be considerable, presents like these are a great opportunity to teach them the value of holding onto their cash instead. Bank accounts for children offer some great interest rates to help grow their savings, while researching which options are best opens the door for a frank discussion on money management generally. By learning about budgeting and banking from a young age, they’ll be taking their first steps towards financial independence.

Bank accounts for 16 year olds: What you need to know

Hitting your 16th birthday opens all sorts of doors. In the UK, this is the age you receive a National Insurance number, can ride a 50cc moped, have a beer or wine with your meal in a restaurant, and order your own passport. When it comes to your money, it’s also the threshold for finally being able to open a bank account without your parent or guardian’s permission. You’ll be able to pay for things with card, withdraw cash and even earn interest on your savings.

Protect your finances from scams: Part 4. Credit card fraud

According to The Facts 2021 Report by UK Finance Fraud, losses due to fraudulent activities on UK issued cards reached £574.2 million in 2020. In the same year, a total of £983 million in card fraud was detected and stopped by card issuers and banks. Credit card fraud is a real problem; it's necessary to be aware of different types of fraud and take steps to protect yourself.

Jargon Buster: Credit Cards

Credit cards can be handy to fund big purchases, to take advantage of cashback and rewards offers, and to help consumers claw back their money if a purchase goes wrong. Used responsibly, they’re a great form of credit – but the technical jargon surrounding them can sometimes be off-putting. Our handy glossary should make sure you and your so-called ‘flexible friend’ are talking the same language…

What's a good credit score in the UK and what's bad?

If you are thinking of getting a credit product, such as a personal loan or a credit card, your credit report and score will be taken into account. Having a poor credit score and history will increase your chances of being rejected. On the other hand, having a good score means you’re more likely to be accepted for credit and be offered better deals, including lower interest rates.