A financial expert has suggested that using pre paid credit cards could be the way forward for thousands of consumers, offering an easy and affordable way to pay for goods without getting into debt.

Phil Alcock, one of a crack team of credit card experts at Fair Investment Company, says that pre paid credit cards are a simple, effective and safe way to pay for things.

Pre paid credit cards are topped up with cash by the holder whenever they can put some money on it and then they can be used to pay for things without the risk of going overdrawn or getting into debt.

"There are currently about 2.3 million prepaid credit card holders in the UK and this figure is just set to keep on rising as people realise the benefits of a prepaid card," said Mr Alcock.

The credit cards are described by Fair Investment Company as a good option for children, offering independence while still keeping a strict budget. They also have the advantage over cash in that if lost they can be replaced, certainly handy where children are concerned.

While some may feel that pre paid credit cards would not offer the same spending options as a credit card as they are not actually providing any credit, for those who wish to budget effectively they can be very useful.

Instead of paying a credit card bill at the end of the month with interest added on and paying more in the long run, with a pre paid credit card you can pay monthly before you spend and not have debts and bills mounting up.