Cash Plus Card

cookg11

If you pay the card balance off instead of paying the monthly payments will this help build your credit score or are you better off paying the monthly installments?

[Deleted User]

So long as you're not missing payments, alls good!

BigBother

Hi Cashplus card is not a credit card.You load it with your cash at PO or through the bank, and then use it like a bank card. Its not a credit card as such.

mnomis

BigBother wrote: »

Hi Cashplus card is not a credit card.You load it with your cash at PO or through the bank, and then use it like a bank card. Its not a credit card as such.

I think the OP means the cashplus option that has the yearly fee. They "loan" you this and you pay it monthly. They then report a satisfied transaction to the CRAs at the end of 12 months (not sure about the month by month basis).

So it's a debit card with a "loan" attached.

To the OP, I think it's aimed at people paying it back on a monthly basis, not sure what (if any) impact, paying it off in one go would have.

RICK..._2

As above i think the credit builder facility is aimed to help you by showing you can make monthly repayments on time etc..

All ive done with mine is chuck £60 quid in and left it, although i do check it now and then to make sure all is ok. Got plenty of green 0's on my file from it tho!