Prepay credit cards - thoughts

lemonpillows

I've been looking for one of these in the UK for a while, as I only have a Visa Electron on my bank account. (makes online shopping difficult).

I've just applied for this card:

http://www.mycashplus.co.uk/

Does anyone have any experience with them at all? Would this be accepted as any other Mastercard would? I'm willing to pay the £5per month for being able to use a 'credit card' with my terrible credit rating - it would make life so much easier.

Any thoughts anyone?

Magentasue

Expensive convenience is my thought but is has been said on here that some people find them useful.

KTF

Its just like a normal Mastercard except that you never have a negative balance. Its up to you if you think the costs involved are worth it.

Personally I would speak to your bank and see if they are willing to upgrade your account before going down this route. some are quite happy to do this if you have a good history with them.

grumbler

lemonpillows wrote:

I'm willing to pay the £5per month for being able to use a 'credit card' with my terrible credit rating - it would make life so much easier.

Any thoughts anyone?

Did you try to apply for Capital One Classic or Vanquis cards? Even Vanquis with £19 annual fee looks better.

credit card for no credit history (or bad history) ...

philc36

i would not pay to get credit they make enough as it is, just keep trying, capital one seem to do deals ? try them

inmypocketnottheirs

Got accepted by Vanquis, with a bad record. £750 limit 29.9% apr (irrelevant as I now pay off all my cards each month - used for business expenses) plus £19 annual fee. Do a google for vanquis bank, download the application form fill in and send off. Must be worth a try?!?!?

lemonpillows

Not sure I really want to go down the traditional 'credit card' route to be honest. I'm saving up to become bankrupt, and know I could get stung for getting another card.

IT would only be for online shopping, monthly railcards and things like that. I'm with the Halifax, so as soon as I become bankrupt I'll have to close my basic account with them, so there doesn't seem to be any point in trying to upgrade the account.

Thanks for the replies though.