A Pre-Paid credit Card, also known as a pre-paid debit card, is a payment card very similar to a credit card and can be used anywhere in the world.

The only real difference between a Pre-paid credit card and a credit card is that you load the pre-paid card with your own money instead of using the lender’s money to pay for items. This is an especially good way of controlling your spending and ensuring that you do not get into debt.

Many parents purchase these for their teenage kids as pre-paid credit cards will ensure that they can’t spend what they do not have – i.e. they have to be “topped-up” before being used.