Why the Bread Maestro is not a credit card

October 1, 2007

The new “Bread Maestro” card has already proven to be extremely popular and it is designed to be on a completely different level to any other type of card. Despite what many people think it is not a credit card. It is in fact a prepaid card that allows you to spend only what you have put onto the card. It is thought that prepaid cards will take over from credit cards by the year 2010.

One of the main advantages of a Bread card is that you do not have to have a credit check to get one. However this is hardly surprising seem as though it is not a card that you can use to get yourself into debt. You simply top it up with cash and it will never let you overspend as it is not linked back to an overdraft like a debit card is. It gives you the convenience of paying with a card, without the worry of going overdrawn.

As for the fees that come with the card, you will be pleased to know that there aren’t any. With many credit cards and other cards out there, you tend to have to pay a monthly usage fee and withdrawal fees too. The great thing about the Bread card is that there are no fees to pay at all. For this reason a prepaid card comparison website has actually awarded the Bread card five stars. They claimed that there wasn’t one thing that they could pull the card up for and so it is now officially known as one of the best that is available.

As of yet the card is only available in Liverpool as it is only just being piloted. Various Asda stores are marketing the card and if it does well then we will definitely be seeing it in most areas across the UK. Overall it is set to go down extremely well with consumers as it does offer that convenience of not carrying around cash and of paying quickly with a card.