Prepaid Marketing for Online Success

Not getting approval for a new credit card can be put down to a number of factors. The main factor amongst those suffering from a poor credit rating as a result of CCJ’s, debt’s or a poor credit score. In the western world, it is almost impossible to look beyond credit rating as mechanism of determining a persons ability to repay credit and due to this, an individual applying for credit will have a hard time applying for a new account because past records will prove that the individual is incapable of fulfilling his obligations.

Plastic is King

Not getting a credit card makes it extremely difficult for the person as it is often repeated that in this generation, plastic rules the universe and you are hamstrung if you have no access to plastic. This is an unfortunate truism of the modern world. That’s where credit credit for bad credit come in to the equation.

Banks, Prepaid Cards and Bad Credit Options

One of the good things about some banks is that they allow customers the ability to improve their credit history and amend previous bad credit reputation by allowing these individuals to access to certain types of credit cards that come with a low or limited credit limit. Through this, the bank can monitor if the account holder is being responsible when it comes to payments or not and can use this as an indicator of potential future performance of that individual in fulfilling their obligations. These credit cards for bad credit offer the customers a chance to re-establish and revamp their credit records and build a good credit history.

There are a lot banks that offer credit credit for bad credit so the account holder will be able to start to rebuild his credit standing. Banks such as HSBC and Vanquis especially cater to people with bad credit.

Visa and MasterCard also provide cards that cater to people in the same predicament. There are a number of prepaid cards providers who provide prepaid credit cards in the UK market which help cater to this segment and help them improve their credit rating using tools such as Creditbuilder, Credit booster, Budget master, etc. Prepaid cards usually come without any interest and there is no credit actually provided on the cards but the providers offer options by which they can help improve ones rating. Cashplus, First Premier, ClearCash and Kalixa are some of the prepaid options available to consumers as a prepaid MasterCard that can help improve credit history.

Dealing with Financial Crisis

There are a number of ways that should be used to prevent another financial crisis from bad credit that a consumer already finds themselves in and the most important thing is to never miss deadlines when it comes to paying debts and to make sure that the balance will all be settled within the month. Credit cards for bad credit are designed by companies to give consumers the opportunity to gain back or rebuild their good credit standing and not to give these people another chance to irresponsibly pile up unpaid debt again.

In this modern age, where money is primarily used in the form of plastic, it’s actually a good thing that people still have the chance to redeem themselves when it comes to improving their credit score and rating. With services like Experian, Equifax, etc it is now possible for individuals who are financially underserved to review their current standing with lenders and improve their creditability using bad credit credit cards and prepaid cards for the un-banked. There are even prepaid cards basic banking accounts offered by some providers.

The key undoubtedly is to ensure that individuals use the opportunity provided by these prepaid cards and adverse credit credit cards wisely and do not fall into irresponsible spending again.

Compare and review prepaid cards and anonymous prepaid cards & the benefits of prepaid cards for the unbanked and bad credit credit cards at Prepaid365.

Source: http://www.prepaid365.com/buzz/2011/11/credit-cards-for-bad-credit-overcoming-credit-rating-issues/

The face of the money transfer market is rapidly evolving. Traditional channels are being quickly replaced by quicker, cheaper and more efficient channels which are revolutionising the way we send money elsewhere in the world today.

No longer do customers have to spend on expensive wire transfer and get short changed on currency conversions when transferring money outside the United Kingdom. This is possible with Money Transfer Cards. These money transfer cards are essentially prepaid credit cards that you can purchase and provide you with great alternatives to wire transfer and other models of money transfers. The simplicity of the entire process of sending money is so convenient for everyone who needs to send money to anyone across the globe. If you have family members travelling overseas or living overseas, using such Money Transfer cards makes it extremely easy for you to share travel money or remit money to them as additional funds for their everyday use. Read the rest of this entry »

Escape Travel Money – Keeping MP’s in Check

Politicians jetting off on holiday this summer can learn a thing or two about budget management from prepaid card provider EZPay – the name behind the Escape Travel Money cards.

While Chancellor George Osborne might be a friend of the banks in his day job, even he faces a range of rip-off fees when using his plastic for spending when he’s away in the US. Greedy banks grab an average 3% in charges on overseas spend made on UK-issued debit and credit cards. Worst of all is the whopping £5 ‘cashpoint tax’ levied on large ATM transactions. Read the rest of this entry »

The market for prepaid credit cards has been growing in leaps and bounds and there are close to 200 prepaid card programmes running in the UK with varying degrees of success. Unfortunately, outside the travel sector and currency cards, it is possible to count the number of successes on one hand and even then, success may have to be defined rather optimistically.

One of the the few programmes to buck the trend of optimistic failures is the NETELLER Net+ Prepaid Credit Card programme. The Net+ Prepaid Card programme is managed by the guys at Neteller and is available as either a physical Prepaid MasterCard or as a Virtual Prepaid MasterCard and here’s why these cards work.

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The new season of Dexter kicks off soon and serial killers beware as undoubtedly Dexter’s “gonna get you” but Dexter is nowhere as potent or lethal in his actions as are some prepaid stakeholders who are killing prepaid credit cards.

Now, it would be wrong to pin the blame for the failure of prepaid credit cards on poor marketing given the burgeoning number of prepaid credit card programmes which have flawed value propositions, antiquated operations and legacy back end systems but the failure to launch a slick front end operation accounts for a number of programmes biting the proverbial dust.

It is interesting to note that stakeholders and decision makers that invest somewhere in the region of £60k+ in the setup of these prepaid credit card programmes shy away from making the requisite investment of even 10% in marketing and supporting the launch of these prepaid credit cards.

A few interesting conversations with regards to the launch of these prepaid credit cards include

• We have a huge third party database as well as existing customers who will surely be interested in this programme so we do not really need to do anything else
• Our programme has the same pricing structure and setup as that successful big brand prepaid credit card proposition. We cannot go wrong.
• We really do not see the card programme as a profit centre – so do not really wish to invest in the programme.
• And my personal favourite, I think we will invest in the marketing if the programme does well in the first six months.

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-          First above-the-line campaign for the travel money giant in over five years

-          Highlights prepaid credit cards as the safe, convenient way to carry currency

-          Campaign includes, outdoor, tube, online, in-store and PR support

Foreign exchange specialist, Travelex, is to launch a new ad campaign on travel money; the first above-the-line activity the currency giant has produced in over five years.

The ads, commencing on 2^nd August and promoting the Cash Passport prepaid MasterCard® currency card, centres on the ‘Avoid getting stung on holiday’ theme supported by the strap line ‘The new way to carry currency’.

The campaign is designed to drive awareness of the innovative product in the key London and South-East market, focussing on family holidaymakers and coinciding with the peak school holiday travel period.

Produced by creative agency LIDA, the ads feature a number of traditional holiday nasties such as scorpions, jellyfish and mosquitoes with fun, quirky supporting copy to highlight how the benefits of the card can ensure holidaymakers don’t get ‘stung’ when travelling.

An image of a vicious-looking scorpion is accompanied by copy noting that they are found everywhere except Antarctica, but so too are places that accept Cash Passport, highlighting the worldwide network of over 2 million locations which accept the prepaid MasterCard.

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Watching the final episode of the hit TV serial LOST (live from the US as we were constantly reminded) – at 5.00am on a Monday morning was a bit like a prepaid card stakeholder having launched a prepaid card programme – I was left with the burning question whether it had in fact been worth it all?

Now, this may have more to do with what I perceived to be a rather weak ending but the answer to the LOST conundrum was a resounding NO and a number of prepaid card stakeholders may feel the same about their investment in a prepaid credit cards programme.

The Prepaid Industry is Booming – or Is it?

Prepaid Card issuers, providers, manufacturers, programme managers, consultants and every Tom, Dick and Harry associated with the Prepaid Card Industry will admit that the margins within the prepaid industry are not the same as the margins within other alternative payment services sectors and by the same token, they will have to admit that the prepaid, as yet, is not the mass market phenomenon some of the industry experts would have as believe.

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Though credit cards have become an important part of our life, making credit card repayments is still a major challenge for many people. Prepaid debit cards or prepaid credit cards, as they are also known, are considered helpful in these situations or even to prevent such situations from arising as it encourages users to use the cash that belongs to them or is “cash in hand”.

Obtaining a prepaid credit card is a fairly simple process and once you have your card, you can deposit funds into your card account. When making a purchase using your card, your account gets debited by the amount you spend as would be the case with using a normal debit card attached to a bank account.

Prepaid Credit Cards with Extra Features

To prevent you from overspending and building credit debts, some prepaid credit cards are equipped with credit limit feature which puts a limit on your expenditure which is 40-50 % of the total amount present in your account. This is typically the case with prepaid cards issued in the United States but some providers in the UK are now starting to introduce this functionality as well.

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So all set for that Trip to Euro Disney with the kids over Easter or already started planning that Trip to Vegas in the Summer?

It never hurts to be well prepared and of course, as every seasoned traveller knows, the longer you give yourself, the less expensive and chaotic it is likely to be to have that perfect vacation unless of course, you are booked with British Airways and they decide to go on strike!

So where do you start when planning your trip. Most people follow the well treaded path being

• Choose Destination
• Book Hotels
• Book Tickets & Travel Insurance
• Ensure Passport’s and Visa’s are upt to date
• Book Transport to and from the Airport
• Leave your worries behind ……followed by
• Mad dash for expensive travel money at the Airport kiosk
  

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Emotion Associates Limited, a UK based marketing consultancy dedicated to the prepaid card sector, has launched a new service designed to help prepaid card providers develop and launch Prepaid Cards into the market.

Aptly named as Launch, the service is designed for companies looking to launch a new prepaid card into what is best defined as a congested UK market.

Launch aims to provide companies with the stepping stones to ensure that their programme does not get lost and the core value proposition is clear to consumers. Launch follows the AIDA framework in ensuring that consumers are Aware of the programme, develop an Interest in it, and have a Desire to undertake some Action with the product.

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So you are looking to travel and are scouring the market to find the prepaid travel card that is going to give you the biggest bang for your buck!

In terms of travel money cards or currency cards, it doesn’t get much better than having a card which is

• Free to Get
• Free to Load and
• Free to Use

Whilst most prepaid travel money cards in the market are now Free to Get, Load and Use at retail merchants and online, they do tend to charge a small fee for ATM withdrawals typically in the region of €1.50 or $2.00 in a Euro and Dollar card respectively. There are some which also provide ATM withdrawals for free which is great but typically what happens is that when these providers introduce ‘No ATM fees’, they also tend to move their foreign exchange spread, meaning that whilst you as a consumer may have gained on the ATM fees, you would have actually lost out on the currency exchange rates offered.

So as an example, lets compare a Prepaid travel money Card with a fixed withdrawal fee with another currency card which offers free ATM withdrawals along the following scenario

• John goes on Holiday with Sue and loads a £1000 on to his Euro card and another £1000 on to Sue’s Dollar Prepaid Card.
• They both make 2 x cash withdrawals on their trip
• The remainder of the card balance spend via direct purchases apart from £100 which is left at the end of the holiday
• £100 leftover cash withdrawn from a UK ATM at the end of their holiday

So how did Johns Euro Card Compare. Lets find out with the help of the table below

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Whilst David Beckham is unfortunately not going to make it onto the pitch in South Africa, he is more than likely to join the 60,000 odd UK travellers looking to make the trip down to South Africa following the fortunes of Team England.

Earlier in the year, I had suggested that travellers should definitely look to avail the benefits of Prepaid Travel Cards on their trips and get one of the leading prepaid travel cards in the market from one of the following three providers, who provide the best exchange rates in the UK market.

• Rational FX Prepaid EURO & USD Cards – http://www.rationaltravelmoneycard.com
• Fair FX Prepaid EURO, USD and GBP Cards – http://www.fairfx.com/travelcard
• Caxton FX Prepaid EURO, USD and GBP Cards – http://www.caxtonfxcard.com

The exchange rates on the first two are definitely better but all three are excellent products.

However, none of these three providers have a ZAR card option – so you are restricted to getting either a GBP, EURO or USD Prepaid Travel Card.

The smart alternative is to consider  a Prepaid RAND MasterCard card from Prepaid Financial Services. I believe it is the first RAND prepaid MasterCard to be launched in the UK and this has obvious benefits as advised on the PFS site but the main advantage according to me is that you can get the PFS Rand Card and then monitor exchange rates and on a particular day when the exchange rate is brilliant, you transfer your £2k or so onto your card and that is your holiday money sorted at the best exchange rate possible.

So if you are travelling to South Africa, a South African Prepaid MasterCard in Rands in your wallet is definitely a great idea!!

If you have heard about prepaid credit cards or prepaid debit cards and are looking to trial a prepaid card, then Prepaid365′s listing of free prepaid cards is worth having a look. Listed are free prepaid visa cards and free prepaid MasterCard cards in the market.

http://www.prepaid365.com/free-prepaid-debit-card.html

The O2 prepaid cards are free but available to O2 customers only so the MasterCard options are a pretty good idea too!

Prepaid365, the UK’s leading prepaid card comparison site, announced the second edition of the Prepaid365 Prepaid Card Awards yesterday. The awards aim to recognise the best in category service provider for different categories as well as highlight a few worthy runners ups in each of those categories.

In the second edition of these prestigious web awards, subject matter experts at Prepaid365 in conjunction with consumers and real users have been researching and reviewing prepaid cards across the UK over the last month or so already with the aim of finding the best prepaid cards in different categories such as Money Transfer, Travel, Payroll, Gaming, General Spend, Online Shopping and Youth. There is a new international category in place in the second edition of the awards and this will be extended even further next year.

Divya Sharma, Senior Researcher at Prepaid365, stated “The awards were a qualified success in July earlier this year and achieved their objective of recognising high quality prepaid card propositions – based on consumer opinions around acquisition, usage and rewards. This is not a bunch of corporate heads sitting around a round table and handing out industry awards but consumer awards which focus on the consumer perceptions around what they desire with a prepaid card.”

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You must have surely heard the adage that “You Plan to Fail, if you Fail to Plan“.

Whilst this is undoubtedly true for all businesses and all ventures in life, it would be fair to say that this is especially true within the Prepaid Debit Card Industry as budgets tend to be slimmer than most but planning is just the first step because if your measuring and monitoring aren’t up to scratch, you may find your programme struggling sooner rather than later.

In fact, if you are the Prepaid Card Programme Manager or part of the Marketing Analytics Team that has been tasked with monitoring and measuring the success (…erm or otherwise) of your Prepaid Card Programme, then there are a few things you definitely need to be measuring to avoid making that trip to the Job Centre…

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