Pay as you go credit cards

andy_H_4

have a look at this card from lastminute

cost £6.99, charges are 20 pence per transactionand free to top up

Icemoose

That looks very good.... will have to read up on that more!

roger56

Have a read here first, some basic accounts do offer debit cards.
Try to avoid service charges:

http://www.direct.gov.uk/MoneyTaxAndBenefits/ManagingMoney/BankAccountsAndBankingProducts/BankAccountsBankingProductArticle/fs/en?CONTENT_ID=10035164&chk=2HUdjg

Icemoose

I am currently waiting for Natwest to confirm I can have a basic account with them... I have a savings account with them with a solo card for almost a year which has been great... but I wanted a basic account to transfer wages to and DD etc.... but I had to obtain a certificate of discharge for my bankruptcy in 2001 first... which I did at a cost of £60... so now just waiting on Natwest to okay the account!

Icemoose

I was reading up on the Lastminute pre paid card this morning and I decided to take a peep at the website of ACL who first started these pre paid cards. They offer several cards but one of them known as the Talksport card has no fees other than the sign up fee of £9.95 and a fee of £1 to withdraw cash at ATM’s. Other than that there are no transaction fees…. Which beats Lastminute claim they are the cheapest at 20p per transaction!

I must admit the card is a tad off putting for me as I hate sport but on a look out to save money…. It’s worth thinking on!

The website is: https://www.talksportcard.co.uk

Icemoose

Found another with no transaction fees for normal purchases... part of same company but using the Magic Radio Station name...

http://www.bluecorner.co.uk/magic/

This one also has no "Foreign Transaction Fee"

This seems the best one for me and my planned holiday later this year....

Check out there website with details of all the cards they offer:

http://www.bluecorner.co.uk/

There are load fees on these cards.... so I guess it's a case of deciding which is gonna be best for you!

davebrown

I understand using these cards can be a way to help rebuild ones credit score, is this true with all the cards ?

Dave..

King_Of_Fools

davebrown wrote:

I understand using these cards can be a way to help rebuild ones credit score, is this true with all the cards ?

I do not see how just using these cards would have any effect on your credit score. In fact, if you used these cards in preference to sensibly using a credit card your credit score would be worse at the end!

However, if you can not control your own spending on a credit card, having one of these cards would help as you would not be able to get into debt.

davebrown

Perhaps setting up regular payments to be paid via one of these cards would go a little way to improving credit history. Being post bankruptcy I have the worst credit score going, I'm just looking at ways to start rebuilding the history.

King_Of_Fools

davebrown wrote:

Perhaps setting up regular payments to be paid via one of these cards would go a little way to improving credit history. Being post bankruptcy I have the worst credit score going, I'm just looking at ways to start rebuilding the history.

I do not see how that would be any better than setting up regular payments as a Direct Debit from a Basic Bank Account that you fund in the same way and it would cost more.