Pre-paid card questions

bubblegumm

Hi everyone,

I've taken out a pre-paid credit card (which will shortly be cancelled as I've just got a pre-paid PayPal card which has no montly fee to it) and I was wondering..

Who knows I have this? Does it still show on my credit file even though it has no actual credit to it?

Will the OR be able to see I have it?

Thanks x

skylight

Don't worry about it. It has no money on it, no credit record is made about it and you are cancelling it anyway. Keep the paperwork just incase the OR asks about it, but as there is nothing there, there is nothing to worry about.

bubblegumm

Hi skylight, thanks for the reply but I was wondering more about the new pre-paid card I have that I'm keeping.

Will that show up on my credit file/check etc? Thats what I'm wondering if the OR will find out about. Not that its secret, I'm just wondering if they'll go looking for how much I have on a pre-paid card

I was just reading a thread about savings whilst BR and it got me thinking, how safe is your money on a pre-paid card from the OR and would you get into trouble etc

Thanks

skylight

Have you taken the Paypal card before or after BR?? Do you have any money on it right now?? Theoretically anything pre-BR belongs to the OR and its their decision whether to take it or not. Post-BR is yours.

bubblegumm

I've taken the PayPal card after BR - I went BR last month and only got the card this week.

I was just worried the OR might want any money I have on it or I'd get into trouble for having money on it?

It'd funded from my PayPal account so there is no record or trace of it on my bank account etc.

skylight

Personally, I wouldn't worry about it then. Its post-br and unless you are expecting a few thousand on it. You are allowed savings (getting a savings account is almost impossible) so thats all you are doing. Your I&E probably had a small amount each month for holidays/emergencys (possibly)/birthdays so you need this money to go somewhere afterall!

bubblegumm

thanks very much for the advice, that's made me feel better!! its not thousands on it, just a few hundred and like you say, it needs somewhere to go and i dont have a savings account so if i withdraw some and keep some on there, it'll do for a rainy day

thanks xx

skylight

I have 2 basic accounts, one for day to day stuff the other for savings. Its the same thing. Can't wait for AD so I can get a proper savings account with interest on my measly amounts!!!