Pre-payment credit card???

Pat__3

Hello to All. Can anyone tell me how a pre-payment credit card works - how to get one - and who is the best.

All replies appreciated


Cheers Pat

Pat__3

??? Does'nt anyone know anything about these ??? ???

I've heard of them but know nothing more that is why i am asking.

Pat

zain

Pre payment credit? an oxymoron?

mgr1970

They are very common in the USA and they are issued by all the mayor banks but in the UK they have been advertised but they are by some dodgy looking outfits that you would not touch with a barge poll.

Try searching https://www.google.co.uk using prepaid mastercard and visa it brings up some choices.

Pat__3

Pre payment credit? an oxymoron?

I beg your pardon????????

Pat >:(

Pat__3

Thank You mger1970.

I will try this,the reason i wanted to know is that i am a bankrupt and don't want anymore debt and i have heard of the prepaid credit card but i knew nothing else, so Thank You again for your helpful reply.

Much nicer than Zain >:(


Cheers Pat

mgr1970

Pat,

If you know someone in the USA or have any friends etc that are going to the US you can by pre-loaded mastercards over the counter the best i found when i toured the USA and wanted to avoid loading charges etc was the AAA re-chargeable visa card you manage it online and it was available from hundreds of places if you look on mastercard.com it gives you a list of prepaid cards.

The only one i have seen in UK advertised is called global mastercard its been marketed by these internet sites where you pay them £99 and send them money etc the problem i see with this card is it is issued in the USA and under the new patriot act it seems the way the firms are selling this card in the UK is walking a fine line in breaking the US regulations and you could loose anything you pay these firms so be careful before you buy anything check the firm out with trading standards and the OFT who issue there licence to trade.

Good luck.

zain

Sorry Pat31

All i meant was that it seemed a contradiction! Why pay for credit beforehand?i.e. if you have the money and are willing to spend it why give it to a credit card before using the card. It seems the wrong way round? I guess i understand a bit more but am still not quite sure what the point of a pre-payment credit card is?

Not hard feelings i hope, all i meant by oxymoron is that it didn't make sense to me!

Galstonian

If you are (or have been) bankrupt I thought there were special rules applied to any form of credit. Surely this would be best discussed with the officials who deal with your case (is it a receiver or a liquidator? I'm really not sure, sorry for being vague). The point being that they will know what is possible and will undoubtedly have experience of what others have done in similar circumstances.

If you are merely trying to rebuild credit history then perhaps there are other things that can help?

Pat__3

Yes Thank You Zain it's OK.

And Thank You Galstonian.
Yes being a bankrupt you are not allow credit of more than £500-00 as along as the person you are borrowing from knows that you are bankrupt,i should be discharge within 4 months but this is why i wanted a prepaid credit card mainly to use on the net online.I have obiviously been given a fresh start and don't want to get in that debt rut ever again.
I also needed a prepaid credit card as i want to pay my ISP monthly from the card like i used to do but my mum is doing this at present for me until i can get one, as you know most ISP only want to be paid via a credit or debit card.I will soon be opening a basic bank account with abit of luck but this is just to have benefit paid in and set up standing orders or direct debits, again for this i was going to wait until discharged as i will have a better chance with a basic bank account.

So any ideas would be very helpful.

Pat

M_Thomson

They are very common in the USA and they are issued by all the mayor banks but in the UK they have been advertised but they are by some dodgy looking outfits that you would not touch with a barge poll.

Try searching https://www.google.co.uk using prepaid mastercard and visa it brings up some choices.

Which major banks in the UK issue them MGR?