Pre-Payment Cards 
These are a great alternative to carrying cash; they work like a debit or credit card, they are NOT linked to any account and you don’t pay interest. There is generally a service charge (payable monthly or annually). You top up the card - the same way as the 'pay as you go' mobile phones. You can only spend what you have put on your card - this is a good way to control your impulse buying!
Store Cards
We recommend that you avoid these!
Usually there are tempting offers by stores to get you to sign up. Interest rates on these cards are really high - and if you miss a payment, very quickly you can find your debt spiralling and the finance companies who manage these cards are very quick to take legal action against you.
The table below shows repayment comparisons between making a monthly planned repayment and making minimum required payment...
Store Card Balance APR on Card Planned Repayment Amount Per Month Minimum Repayment Amount Per Month £300.00 28.9% £30.00 £3.00 Time taken to repay using planned £30 Time to repay using Minimum £3.00 Total Cost of Debt using planned £30.00 Total Cost of Debt using planned £3.00 11 Months 9 Years 8 Months £40.00 £506.00
Your PIN (personal identity number)
Keep this number safe. NEVER write it down and leave it with your card. NEVER let anyone leave the numbers you enter into a built in cash dispenser or a hand-held device
