Endorsed Cards

In the UK it has long been an issue for teenagers and young people to either make purchases online or manage their own finances because they are too young for a credit card. In recent months that has all changed. Mastercard have reduced restrictions imposed on some prepaid debit card retailers to allow them to issue the cards to teens. Some, like the virgin prepaid debit card allow teens as young as 13 get their own prepaid card.

With more and more teens and young people wanting to buy phone credit, book flights and buy music online it is very little wonder that the card issuers are starting to sit up and take notice. It is estimated that 31% of all online spending is done by those in their teens using either parents or a friends credit card.

The majority of teens cannot get a credit card as they are either way too young or they simply have not got an established credit record. With prepaid cards not requiring any age check or any bank account, millions of teens are flocking to cards like the Tuxedo card or the Virgin card to quench their online buying thirst.

The market for such cards is still wide open and those providers ready (and willing) are going to make some serious profits. Without the risk of getting into debt or damaging credit scores, prepaid mastercards are fast becoming the payment of choice of millions of teens across the UK.