Is it worth trying Credit Builder Cards

mrsmoneyworries

Thank you very much for all your views - Hope I am not coming across as wanting to get lots of credit and in that awful place I was in last year - as that is a definate NO NO !!!!! I was just hoping for the green ticks on credit file. I do pay lots by dd who register with the CRA, so think thats fine by me for now.

MicheH

yeah mrsmoneyworries, I'm with you, for all I want to repair my credit score i'm not prepared to play the money lending game to get it, i'm not going down that road again, it sticks in my throat that I may have to get just 1 credit card in the future to help my score but i'll worry about that when the time comes.

semikie

Since my discharge I have used Cashplus gold card, and use their creditbuilder, it showing on my credit file as a regular up tp date payment on a loan.
Its a good place to start. Cashplus Gold Card is a tool to not feel an outcaste with your mates, it looks and works like a mainstream credit card, and you are in charge of how much you load. It has the benefit of the creditbuilder option also
Hope this helps
Michael

mrsmoneyworries

Michael

Thank you very much for your input and yes it does help. How soon after discharge did you get it ?

Jenny

nervousmother

I am discharged BR, my credit record is looking better due to the following:

having a co-op cashminder account
a vodafone contract
cashplus credit builder

all three are giving me green ticks on a monthly basis...... without the debt :-)

mrsmoneyworries

nervousmother wrote: »

I am discharged BR, my credit record is looking better due to the following:

having a co-op cashminder account
a vodafone contract
cashplus credit builder

all three are giving me green ticks on a monthly basis...... without the debt :-)

Thank you also NM for your valued input - did you already have a contract with vodafone or is it a 30 day rolling one ?

nervousmother

I already had my own contract before i went BR, but i got a sim only deal for my daughter that also shows on my credit record..

mrsmoneyworries

Thanks again for the info, I will definitely be looking into the cashplus credit builder.

nervousmother

I will always have the cashplus card, even after BR has fallen off my credit record. It allows me to save monthly then when ready to spend its already loaded onto a mastercard that is excepted almost everywhere. Easy to use, online banking so you know where you are.. and iv a gold card in my purse lol

mrsmoneyworries

LOL yes I suppose I quite like the idea of 'fitting in' without wanting credit . . Just another one - Are there any charges/fees for it ?