Br today (yay).... Prepaid MasterCard?

chilli_em

Hi all... Br went well today. Just had a thought and was wondering what the deal is with pre-paid MasterCard, particularly the ones with credit builders... Was wondering if this would be an easy way to pay my ongoing liabilities, eg phone bills, and if this is allowed as I paying up front - thx

Ineedaname

BR year is a time to organise your finances and learn to live within your means. Please don't even think of taking out any more credit. Not that you would pass a credit check at this time even for a pre-paid card.

If you open either a Co-op Cashminder (debit card and online banking) or Barclays Basic account (debit card but no online banking until after discharge) then you can set up direct debits and standing orders to pay your regular outgoings.

BaldEagle

I'm with Ineedaname on this one. Open up a Cashminder account. You get a debit card so no need to pay the fees pre-paid cards charge for transactions.

SurreyLass1

I cant see the benefits of a prepaid card until after discharge - you cant start rebuilding your credit until you have been discharged surely?

I went BR on 28th March, and the thought of ANY type of card brings me out in a sweat right now, and I am sure for a long time to come.

Co-op Cashminder all the way.

dojoman

Ineedaname wrote: »

BR year is a time to organise your finances and learn to live within your means. Please don't even think of taking out any more credit. Not that you would pass a credit check at this time even for a pre-paid card.
.

There are NO credit checks for the prepaid cards, so there is no way you will fail one. I have the Cashplus Mastercard and opened it when BR. I have not used the credit builder facility so cannot comment on this. The card itself is very useful for places that don`t take Debit cards. Hereis the link to the Cashplus card where it states there are no credit checks.

http://www.mycashplus.co.uk/offers/cashplus/tabs/default.aspx?pc=GAW525&apskw=cashplus%20mastercard&apsad=5928704189&apsds=S&apspl=&apsmt=e&gclid=CMeex9OojKgCFQoa4QodvhElCw

tigerfeet2006

I love my Cashplus card. The petrol money for the month goes onto it on payday (great for my budgeting). We can use the pay at pump with no bother.

elliesmemory1

chilli_em wrote: »

Hi all... Br went well today. Just had a thought and was wondering what the deal is with pre-paid MasterCard, particularly the ones with credit builders... Was wondering if this would be an easy way to pay my ongoing liabilities, eg phone bills, and if this is allowed as I paying up front - thx

This is a prepaid card so no debt.

elliesmemory1

Ineedaname wrote: »

BR year is a time to organise your finances and learn to live within your means. Please don't even think of taking out any more credit. Not that you would pass a credit check at this time even for a pre-paid card.

If you open either a Co-op Cashminder (debit card and online banking) or Barclays Basic account (debit card but no online banking until after discharge) then you can set up direct debits and standing orders to pay your regular outgoings.

As above its a pre paid card not debt

chilli_em

yes that was my point... I NEVER want any more 'debt' ever, however being able to put money onto a prepaid card to enable me to pay for petrol etc is just convenience. Thx guys

chilli_em

Ah I didn't realise I would still get a debit card with cashminder, problem solved!

philnicandamy

debit card with co-op and barclays basic accounts