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Welcome to Card Product Information Libraries which contains further information and FAQ's on Card Product money matters and financial product and key facts about all card products featured on


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With a number of different payment card options available to you, it is important to understand how plastic payment cards work and the factors to consider when you are choosing what card to use. Before deciding what type of card fits your needs best, it is important to understand the different types of cards available. Ultimately, there are three main types of payment cards which we will explore. Although all these cards are used in a similar way to pay for goods and services, there are some fundamental differences in the way that they work.

A widely known payment card is a credit card, this allows you to make purchases using a pre-determined credit facility. Provided you are in your credit limit and subject to certain terms and conditions, you can determine the amount you spend, the duration you borrow for and how much you repay each month. There are many benefits to credit cards if they are used sensibly. Provided you pay your bill in full by the date shown on the statement, you will receive free short term credit on purchases. Credit cards are a safe and convenient way to pay for services and good online with protection against fraud. This is particularly important with the growth of online shopping. Be aware, if credit cards are used irresponsibly, you could find yourself in debt that you find difficult to repay and a severely damaged credit rating.

Prepaid payment cards are increasingly becoming a popular payment method in the UK. Prepaid cards can come in various forms including gift cards or reloadable cards that carry an international card scheme. Prepaid cards can be purchased and then loaded with a specific value either online, at cash machines on in branches. Prepaid cards are usually used by those who have no other access to card payments, travellers or teenagers. The main benefits of a prepaid card are its safety, convenience and availability. There is no risk of running up debt with a prepaid card and they are available for those who are unable to access credit or debit. They can be used online, in cash machines, by phone both in the UK and abroad.

Finding the best payment card available can make a huge difference to the cost of borrowing. It is becoming increasingly more difficult to ensure that you are getting the best offer on the market. Finding the perfect credit card is dependent on your personal financial circumstances and needs so it is important to explore all avenues before you commit to a particular card or company.


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