Prepaid credit cards

Mango_11

Hi,

For someone who can not get a credit card even with poor credit score credit cards, would the following cards improve credit score?

Freedom Prepaid Mastercard
Blue Sky Pay Monthly Mastercard
Cashplus Gold
Clearcash Mastercard

My husband declared bancruptcy two years ago and discaharged last year. He also has CCJ on his credit report and we are desperate to improve his credit score so we can get mortgage! We are having no luck. He even got refused to have normal bank account.. Will the above credit cards useful anyway? Because apparently they don't do a credit check!

dreamypuma

Mango_11 wrote: »

Hi,

For someone who can not get a credit card even with poor credit score credit cards, would the following cards improve credit score?

Freedom Prepaid Mastercard
Blue Sky Pay Monthly Mastercard
Cashplus Gold
Clearcash Mastercard

My husband declared bancruptcy two years ago and discaharged last year. He also has CCJ on his credit report and we are desperate to improve his credit score so we can get mortgage! We are having no luck. He even got refused to have normal bank account.. Will the above credit cards useful anyway? Because apparently they don't do a credit check!

In short: No

To "do a credit check" one one assume that you are opening a line of credit. A Prepaid card is not a line of credit. Therefore will provide you with no credit history.

A prepaid card is just that, a prepaid card. A prepaid card is not a "prepaid credit card"

First make sure you are on the electoral role. Then apply for a sub-prime credit card and use it with caution. If this fails don't be tempted to keep applying for others immediately. Repeat and chains of failures are recorded and make things look worse and arouse suspicion amongst pottential lenders.

If your husband now has a bank account, he may want to try to apply for the banks Credit Card or maybe a small overdraft.

Mango_11

dreamypuma wrote: »

If your husband now has a bank account, he may want to try to apply for the banks Credit Card or maybe a small overdraft.

Thank you for replying, today he tried to do this and see if he could apply for a credit card from his bank but they refused as there is something wrong with his credit file which the bank clerk werent told any details that could poiint to the cause.

On his report I know he has a ccj which there is nothing that can be done about, a bankruptcy public record (now discharged) with a couple of defaulted accounts (associated with the bankruptcy). Not a pretty sight but the outstanding sums are settled. I dont know what else he has to do to improve things.

dreamypuma

Mango_11 wrote: »

Thank you for replying, today he tried to do this and see if he could apply for a credit card from his bank but they refused as there is something wrong with his credit file which the bank clerk werent told any details that could poiint to the cause.

On his report I know he has a ccj which there is nothing that can be done about, a bankruptcy public record (now discharged) with a couple of defaulted accounts (associated with the bankruptcy). Not a pretty sight but the outstanding sums are settled. I dont know what else he has to do to improve things.

See my post above. Also check the files yourself, for free using a free trial from Experian, Equifax or Credit Expert.

Plxply

dreamypuma wrote: »

See my post above. Also check the files yourself, for free using a free trial from Experian, Equifax or Credit Expert.

Don't forget Noodle, it's free and updates every month.

dreamypuma

Plxply wrote: »

Don't forget Noodle, it's free and updates every month.

Yes thanks. That'll be Noddle

AmitSharma

Hi,
Prepaid cards that you mention can actually help with your husand's credit rating over time. These cards have features such as creditbuilder and credit boosetr etc (all mean the same) where they basically give you a small loan equivalent to the monthly fee on the card. You repay that back over 12 months and they report to credit agencies such as experian that you have sucessfully repaid a loan.

So it may not boost your credit rating like a zillion points but I have in the past spoken to Experian about this and they mentioned that the "loan" via the prepaid card is treated as a loan irrelevant of the amount actually.

This does, however, mean that if your husband misses the small £5.00ish payment in any monht, he could have defaulted on his loan and made things worse.

So there is definitely a beneift but you need to treat it as any loan arrangement and be prudent with it.

Also definitely worth checking your credit file using one of those free trials with creditexpert, etc

Cheers

Mango_11 wrote: »

Thank you for replying, today he tried to do this and see if he could apply for a credit card from his bank but they refused as there is something wrong with his credit file which the bank clerk werent told any details that could poiint to the cause.

On his report I know he has a ccj which there is nothing that can be done about, a bankruptcy public record (now discharged) with a couple of defaulted accounts (associated with the bankruptcy). Not a pretty sight but the outstanding sums are settled. I dont know what else he has to do to improve things.

superman999

Hello,

I ordered a Prepaid Mastercard with them: easy, and quick!

BUT once I loaded GBP 500 by wire transfer, the company remained silent and NEVER credited my account !!

Customer service is never answering my requests, by Phone they always say that they need a few hours to check if they have received the money, BUT after more than one month, it cannot be true!

THIS COMPANY IS A BIG SCAM

I called FSA, and they told me that Freedom Card White Eagle is an agent of:

EasySend Limited
5B Edgewater Business Park BT3 9JQ Belfast
UK tel: +44 (0) 28 95 810 710
PL tel: +48 (0) 58 735 81 81
www easysend . pl (website ONLY in Polish)

I will now fill in a Formal Complain with the FSA and also contact MasterCard to inform them that their partner is a BIG scammer.

AVOID THEM