Imagine the scenario if you will: you’re out for a meal and have had a really enjoyable time, hopefully in the company of some good friends. Then the bill arrives, you hand over your card to the waiter and he returns soon after with the words we dread hearing in a situation like this:

“I’m sorry sir, your card has been declined”

Credit card fraud is on the increase which is the reason why the number of Cvv Shop Online is also increasing, with many being caught out by criminals who make use of cloning equipment and internet sites in order to obtain your personal details. Indeed, levels of card and mail order fraud totaled around £300m last year.

However, a growing number of consumers are turning to pre-paid cards in order to make transactions and protect themselves from fraud. If you thought top-up cards were just for mobile phones, you’re very much mistaken.

Pre-paid cards – for some – can be as handy as a credit card in terms of budgeting and safety. Indeed, they look like any normal debit or credit card, but can be topped up at post offices and other outlets and then used for whatever you’ve budgeted for. Some make use of the cards for the purposes of paying in wages, rather than using a bank account, either because they may not qualify for 0% credit cards or just want the added feeling of security that comes with the car owner.

Because you’re putting an exact amount onto the card itself, the risk of overspending is greatly reduced as you’re not tempted to pay for absolutely everything – which can help with your monthly budgeting. Students make use of the cards in order to help with their finances throughout the academic year, but they’re also popular with the under-18’s, which make use of them to ensure that pocket money or earnings from a paper round are secure and can be carried on them at all times.

These accounts can be useful for overseas travel as well, with many travelers choosing to set themselves a budget for when they travel. Pre-paid cards can be useful for ensuring you don’t overspend on souvenirs. Pre-paid cards can also be loaded with a different currency, which can be vital for your holiday spends if the exchange rate is good at the time.

However, there are drawbacks to owning a pre-paid card. There are the fees for one thing, with withdrawals from cash machines in the UK and abroad having fees attached, which would rob you of vital funds if you’re looking to budget. Also, it’s still advisable to have a bank account in order to build up a credit score, which can help in future applications for accounts and credit cards.