Cashplus Credit Builder

Estj87

I have just received my Cashplus card, activated it online and logged in to the members area.

However, it doesn't give me the option of adding credit builder. I'm on a 'total access' plan - and will be paying the £4.99 per month.

Just wondering if anybody can shed any light on how to add credit builder to the card?

Thanks.

pcombo

you need to wait couple of weeks before its added to your account.

Isn't the total access 9.99 a month.

Curr946

if i understand this right, they credit x to the card and then take the full years payment back off. you then pay the "loan" instead of a monthly fee. - You need to apply after your card is active.

http://www.mycashplus.co.uk/offers/cashplus/creditbuilder/?pc=GAW511&apskw=credit%20%2Bbuilders&apsad=6901792349&apsds=S&apspl=&apsmt=b&gclid=CMSdoa3hmbACFUIOfAodpWCxYg

pcombo

you still pay the monthly fee but if u fail to pay they can default your credit file since its a loan.

Curr946

pcombo wrote: »

you still pay the monthly fee but if u fail to pay they can default your credit file since its a loan.

copying means I can't provide you with a pass mark I'm afraid :rotfl:

pcombo

Curr946 wrote: »

copying means I can't provide you with a pass mark I'm afraid :rotfl:

nope you said instead of a monthly fee. which isn't quite true. you will need to pay every month.

TheGenerus1

You have to wait till the credit builder button appears on your online account in order to apply.

Shortly after you apply and accept the T&C, You will see that your account gets credited with the loan £59 odd and then straight away debited from your account.

Instead of the £4.95 fee per month you would have been charged for having the card, You will now use that £4.95 to pay the loan. (Reiterate : You do not have to pay the £4.95 fee anymore to own the card, Just the £4.95 a month loan repayment).

You may not be sent any info or confirmation that the loan has been setup, so make sure you top the account up straight away with at least £5 to ensure the first payment is met.

Check your online account statement to make sure you know the date when the £4.95 will be deducted and make sure you top up on time before the next month.

When I added creditbuilder to my account and agreed the T&C, I thought I would get some form of confirmation that the loan was setup and when the first payment should be made.
I recieved nothing until I got my first ever email from Cashplus 3 months later saying I had 2 missed pay and was late with the current payment. I paid straight away, but they still marked my credit files with 2 missed payments and a late payment. :mad:

After you have made your 12 monthly payments and paid the loan off, you will then have the choice of continuing to pay £4.95 a month to have the card called activeplus pay plan or you can change your pay plan to something called Flexiplus which means instead of the £4.95 a month fee, you will instead be chard £1 extra for every purchase you make using the card.

You will also be eligable to take out another credibuilder loan for another year to further increase your rating.

Oh yes, you will also be eligable for a £100 overdraft with them, You have to pay them £20 for the privilege though

Hope this helped

Estj87

Thanks very much - very helpful. Just need to wait for that 'Apply' to appear on the left hand side. Any idea of how long? My card came yesterday.

TheGenerus1

Estj87 wrote: »

Thanks very much - very helpful. Just need to wait for that 'Apply' to appear on the left hand side. Any idea of how long? My card came yesterday.

If I remember correctly, Within 2 weeks of applying for the card. Give it another week now you have the card.