Looking for something a bit different to a regular credit card? Fed up with being rejected for normal credit? A prepaid card might be the answer...


What is a Prepaid Credit Card?

Prepaid cards are becoming hugely popular in countries such as New Zealand and Australia and are already big news in countries including the US and England. They are offered by independent companies and some banks and provide a great alternative to regular credit cards.

Prepaid cards look and feel like credit cards, but work on a 'pre-load' basis (like a prepaid mobile phone), meaning that the funds you spend on the card have been pre-loaded there by yourself (or a benefactor). There is no credit facility so you are not borrowing money the card is totally in your control. Once the funds have been spent, it is up to you to re-load the card with funds.

Where Can I Use a Prepaid Card?

This type of payment card can be used to pay on the internet, in shops and retailers and restaurants within New Zealand and worldwide. Despite not being regular credit cards, prepaid cards are issued with Visa® or MasterCard®, meaning they enjoy wide acceptance wherever you go.

What are the Benefits of Prepaid Cards?

Prepaid cards are ideal for people who better control over their money. As this card works on a 'pay as you go' basis, you cannot fall into debt as you can only spend what you have loaded onto the card.

This is great news for people who can easily get sucked into enticing loan or credit card offers. The card still gives a great level of freedom, with its wide worldwide and online acceptance.

What if I am Under 18?

Many prepaid cards are offered to people as young as 13 due to their no-debt risk factor. No-one is borrowing money so there is no need to be an adult or to have a perfect credit rating.

In fact, you are highly unlikely to undergo a credit check to get a prepaid card there is no need as you are not borrowing money or entering a credit agreement.


Please note that Which Way To Pay New Zealand ( is not authorized to give personal financial advice under New Zealand's financial services regulations, including the Financial Advisers Act (Securities Commission New Zealand).

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