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Cash Plus Mastercard

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Hi

I have looked into the cash plus mastercard VERY throughly. Last May I completed paying off my IVA = total of £38000 in debt I was at the age of 24. Now I am 29 and debt free - completley learned my lesson, and thought that this idea of a pre-paid mastercard was good as it helps you with your credit rating. HOWEVER, I read the terms and conditions again and again, (just so I know what I am doing) and then rang the customer services, as I was confused, as they said they dont check youyr credt rating, BUT in the terms and conditions they say they may need to. The guy at customer services was very very rude, and in fact he cut me off - I am assuming its because I saw a flaw in their so-called ideal pre-paid credt card to boost your credt score. I think its all rubbish, and will continue to deal in cash, unless anyone can explain to me, how they say they don't check your creit file, but in the terms and conditions it states they may!!!

Thanks :A
Faye
Out of DEBT - You CAN do it!!!
Had £650 back from Royal Bank of Scotland
Barlcays claim still in progress with my solicitors

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  • young_victor_meldrew
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    Pre-Paid cards do not come with a credit check, however, with the cashplus mastercard they have an option where you can either pay as you use - i,e you get charged a small percentage for EVERY purchase. This option is better for people who will us the card once in a while.

    The other option is where you can pay a £5.00 or so fee once a month and all purchases are "free" - this is best if you intend to use the card more often.

    The creditbuilder option comes in here - they "lend" you the £60.00 to pay for a year upfront on the second option, you just have to pay it back each month - as this is considered a "loan" they can report it back to the credit reference agencies.
    Official SOS Club number 011 - Dry until 17/11/2009
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