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Provident Money Card Build Your Credit Rating

Three_Clicks
Three_Clicks Posts: 162 Forumite
in Bankruptcy & living with it
Hi All

The Provident Money card http://www.providentpersonalcredit.com/loans/money-card/

It's VERY expensive BUT its worth taking out even if you just use it to re-build your credit rating.

I was accepted over the phone even though I'm BR.

But the local office turned me down as I live in rural Norfolk and they don't have an agent local to me... :mad:

I did complain and I received a letter of apology and the inq' was removed from my credit file...

Good Luck if you decide to apply for it... ;)
Stuart
«13

Comments

  • skylight
    skylight Posts: 10,716 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Home Insurance Hacker!
    Then once discharged, try a real credit card like Vanquis. Stupidly high interest rates, but ensure you pay it off each month and DO NOT withdraw cash on it. you wont pay a penny in interest.

    Look at ways to improve your rating for free. No/low interest etc, no charges. Dont get back to square one.
  • fiveyearplan
    fiveyearplan Posts: 10,145 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    272.2% APR :eek: YIKES!!! :eek:

    :j :j


  • Three_Clicks
    Three_Clicks Posts: 162 Forumite
    fiveyearplan wrote: »
    272.2% APR :eek: YIKES!!! :eek:

    And they are a LEGAL company!!! :confused:
    Stuart
  • oregonuk1
    oregonuk1 Posts: 136 Forumite
    Provident is expensive anyway there loans and the interest they charge is out of this world.


    oregonuk1
  • blind-as-a-bat_2
    blind-as-a-bat_2 Posts: 4,304 Forumite
    If its the card i think it is It is not a credit card, it is the money from a loan put on to pre-pay debit card.

    I dont know if they even use the CRF's, but it wont help your credit rating the same as a real credit card as you are thinking.

    It is a loan from day one, for the amount on the card, even if you have not spent it, you have to start paying it back, and intrest is added from day one.
    Thats it, i am done, Blind-as-a-Bat has left the forum, for good this time, there is no way I can recover this account, as the password was random, and not recorded, and the email used no longer exits, nor can be recovered to recover the account, goodbye all …………. :(
  • fiveyearplan
    fiveyearplan Posts: 10,145 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Yes BAT thats the one. It is a loan starting at £300. I just looked on their website which is where I found the 272.2% APR!

    :j :j


  • Three_Clicks
    Three_Clicks Posts: 162 Forumite
    blind-as-a-bat wrote: »
    If its the card i think it is It is not a credit card, it is the money from a loan put on to pre-pay debit card.

    I dont know if they even use the CRF's, but it wont help your credit rating the same as a real credit card as you are thinking.

    It is a loan from day one, for the amount on the card, even if you have not spent it, you have to start paying it back, and intrest is added from day one.

    They do use CRF's ~~~ I checked before I applied for the card. NO it is not a CC but the 'loan' goes on your credit file...
    Stuart
  • blind-as-a-bat_2
    blind-as-a-bat_2 Posts: 4,304 Forumite
    And as i said your charged intrest and have to make payments from day one, even if you have not spent the money.

    Which means it is still in thier account untill you do, and they are charging you intrest on it:confused:

    Think about it;)
    Thats it, i am done, Blind-as-a-Bat has left the forum, for good this time, there is no way I can recover this account, as the password was random, and not recorded, and the email used no longer exits, nor can be recovered to recover the account, goodbye all …………. :(
  • Three_Clicks
    Three_Clicks Posts: 162 Forumite
    blind-as-a-bat wrote: »
    And as i said your charged intrest and have to make payments from day one, even if you have not spent the money.

    Which means it is still in thier account untill you do, and they are charging you intrest on it:confused:

    Think about it;)

    Very True...

    But it depends on how keen you are on rebuild your credit rating...

    For us ~~~ Its very important!!!
    Stuart
  • gilligansyle
    gilligansyle Posts: 4,124 Forumite
    If you want to rebuild credit would be far better with the cashplus card which will only cost you £54
    Debts at LBM - Mortgages £128497 - non mortgage £27497 Debt now £[STRIKE]114150[/STRIKE][STRIKE]109032[/STRIKE] 64300 (mortgage) Credit cards left 0



    "The days pass so fast, let's try to make each one better than the last"
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