any know how to repiar or build up a credit rating via pre paid cards?

stuffcrash

Just wondering what card allowed you to build up or repair your credit rating, i think remember something about £5 a month for 12 months which gave you a good credit rating, it was a pre paid credit card or something.

Paul_Herring

Pre-paid 'credit'-cards don't actually offer you credit, and because of this, they won't appear on any credit reports, and thus have no effect on your credit rating.

stuffcrash

Paul_Herring wrote: »

Pre-paid 'credit'-cards don't actually offer you credit, and because of this, they won't appear on any credit reports, and thus have no effect on your credit rating.

i thought there was one or two that rebuilds your credit rating? as i dont have a credit rating.

evanjonesaber

Yes its called the cash builders cashplus card - I actually signed up today.

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

Basically you pay a tenner to get it then pay £4.95 (?!) a month (basically a loan) on it for a year. If you don't miss any payments, they send the credit off etc....and it dramatically bumps up your rating.

Well worth it imo.

never-in-doubt

evanjonesaber wrote: »

Basically you pay a tenner to get it then pay £4.95 (?!) a month (basically a loan) on it for a year. If you don't miss any payments, they send the credit off etc....and it dramatically bumps up your rating.

Well worth it imo.

Where is the loan then? So they pay you £60 do they, then you repay it? NO! Maybe the definition of a loan would solve this!

Have you got proof of this statement about 'dramatically improving your credit'? To this day there is no proof or otherwise to confirm this type of running account has helped anyone....

Paul_Herring

Will you two pack it in and take it elsewhere please?