Prepaid Card.. Credit Building option??

Kashinoda

Hey,

Signed up to mycashplus so I could take advantage of their credit building option (http://www.mycreditbuilder.co.uk/default.aspx)

Are there any other Prepaid services like this or simular? Basically been out country for a while and come back so have NO credit rating, and looking to build up quickly.

Thanks for any suggestions

sutton111

No, that is the only pre-paid credit builder. Have you tried a Sub-Prime card like Vanquis or Aqua?

Kashinoda

sutton111 wrote: »

No, that is the only pre-paid credit builder. Have you tried a Sub-Prime card like Vanquis or Aqua?

Okay no problem, no I wont bother.. I literally have NO credit profile (not even a basic bank account at the moment).. I am working but starting from scratch as I've been out the country a long time.. Vanquis and Aqua wont even accept I dont think,

sutton111

You could give them ago, you maybe surprised.

There are also a varity of basic bank accounts as well which report to CRAs which will improve your credit standing also.

You say you have been out the country for a while, are you live permanently in the UK now then?

Kashinoda

sutton111 wrote: »

You could give them ago, you maybe surprised.

There are also a varity of basic bank accounts as well which report to CRAs which will improve your credit standing also.

You say you have been out the country for a while, are you live permanently in the UK now then?

Yes planning to.

If I try and I get turned down, that's going to have a bad effect on my rating isnt it?

At the moment I'm only registered on the electral role, my wages are paid into my brothers account as I have no account yet as I've not been able to provide any proof of address, I'm going to get my employer to write a letter I guess.

sutton111

Being on the electoral will help your credit score!

If you have been in and out of the country you will have a passport. Your passport along with you being on the electoral should be fine.

I would open a basic account if i was you and build up a healthy internal score with that bank. HTH.

Kashinoda

sutton111 wrote: »

Being on the electoral will help your credit score!

If you have been in and out of the country you will have a passport. Your passport along with you being on the electoral should be fine.

I would open a basic account if i was you and build up a healthy internal score with that bank. HTH.

Okay I'll give it a go, should I be honest when I say I've been out the country or shall I say I've been living at my house for X number of years? (just wondering if it effects credit)

cifpower

A good basic account is either the Barclays Cash Card account or Halifax Easycash and both come with debit cards. My friend applied for the Halifax one and did not have to provide any ID. It reports to the credit reference agency too.

baz29

Hi do you know which banks will upgrade without doing an outside credit check?

sutton111

Abbey dont check for upgrades.

Buddingblonde

My identity was stolen a couple of years ago and it messed up my credit history - after it was all sorted my credit history was wiped and all of a sudden I had no credit history.
I was recommended to buy a couple of small items from a catalogue and pay for them outright - do this for a 2 or 3 months and then apply for credit from them - as you are already a trusted customer they will give you a tiny credit limit (£150/£200) but enough to get you started. Once you have credit it is easier to get more.