Kalixa Cards: Prepaid Mastercards
Kalixa take a very different approach to more traditional credit card providers. The Kalixa card is a prepaid Mastercard. This means that you add to your balance before spending.
It gives access to a "credit card" for those who might not otherwise have access to one. But is it right for everyone? As ever, we like to look at the terms and conditions!
What you get
So what's the point of one of these cards? What are you getting?
The advantages include the fact that you're getting a Mastercard that can be used in shops and online. It includes Chip & Pin technology to ensure that it works in UK stores.
You can also use it to withdraw cash from cashpoint machines and to manage your spending, since you "charge it up" with money before doing any shopping. It can also be used abroad.
How do you charge it up?
Also known as loading it, this is the process by which you transfer money on to the card. There are a number of options available to you, such as:
- Credit card
- Debit card
- Internet banking
- Cash deposit
- Online services, such as Moneybookers
There is a fee when using some of these services, while others will involve a delay. Watch out for these.
This is what we always look out for. What costs are you likely to incur when using the card? The first fee is £4.95 when you first get the card.
Beyond that, there are also fees for ATM withdrawals both at home and abroad - these are more expensive abroad. There are also the loading fees, as mentioned above.
There are limitations when it comes to using the card. In particular, you can only withdraw a maximum of £300 from a cash machine per day. You can only load up £3000 per day, or per week on your card too.
These limitations may not cause you a problem but it's always best to know about them before you apply.
The online application process only takes 5 minutes. Your Kalixa card is then posted out to you once you've loaded it up with some money.
UK Credit Cards