Charge Card - or credit card for those with bad credit?

davels

Evening all,

As a few of you know, I'm burdened with a fairly sizeable amount of debt (nearly 30k now) and quite a number of defaults against my name. I'm with PayPlan and have been for a while..

I travel a bit at work and as such build up expenses... and my HSBC Maestro card isn't accepted in many places where I travel so I really need a VISA/MC card. Is there anyone I can apply to get a charge card (ie, full balance paid at end of month) or a card for those with rubbish ratings?

Cheers all

file_wizzard

https://www.aquacard.co.uk for a "poor history" card, i.e no new defaults in the last 12 months,& no CIFAS info Ect.

https://www.vanquis.co.uk high APR, but if you use as a "charge card" and repay in full each month then is of little consequence

https://www.capitalone.co.uk for a secured visa / master card

https://www.mycashplus.co.uk for a "pre-paid" mastercard

Karma67

Ahhh beat me to it file_wizard!! :mad: :rotfl: :rotfl:

davels

Thank you... both of you :-)

davels

Declined for AQUA. Great.

Karma67

I was declined for that one too...but I was accepted for Capital One and Vanquish

HTH

davels

Capital one had refused me a couple of weeks ago. Not tried with Vanquish.

I've just signed up with cashplus... £5 is nothing when you think about the cost I've paid for interest charges on my credit cards

skintchick

Could you explain to your employers that you need a company cc to pay your expenses?

---lee---

Hi davels,

I'm pleased you found a solution . I used to travel a lot for work also. At the time, I was a good lad and did not have credit cards. In the end, I had to get one for travelling though as things used to end up getting very complicated at hotels.

This was the first time I had heard of these cards (Cashplus).

I wonder what they charge the merchants for accepting transactions on them? For example, a small business can expect to pay around 50p per debit card transaction and 2.5% of transaction value for a credit card transaction.

These cards seem to be somewhere inbetween (more of a debit card I would say). Whichever way, the bank wins everytime I suppose.

As your travelling, a word of caution, hotels, car rental companies and so forth tend to want credit cards so that they can authorise a large amount (say £500) but not actually take the money off the card (in case of damages).

Cheers,

Lee.

---lee---

Oh, also I wanted to ask a question based on the title of your post:

'Charge Card - or credit card for those with bad credit?'

I would have thought that a charge card would be harder than a credit card to get on the basis that I thought charge cards had high limits. Anyone got any insights into this?

file_wizzard

---lee--- wrote:

Hi davels,
As your travelling, a word of caution, hotels, car rental companies and so forth tend to want credit cards so that they can authorise a large amount (say £500) but not actually take the money off the card (in case of damages).

Cheers,

Lee.

The Cashplus product works in the same way as a traditional “credit card” , providing you have enough funds on it to cover the “reserved” amount when you hire a car ect. Then it will work fine. The EPOS process at the retailer just see a normal credit card account with X amount of funds available to spend