Cashplus iAdvance

moneywise1994

I advance is by invite only it can be there every week for a year then disappear for months I know it's idiotic but doesn't look like they are ever going to change that

Claire71uk

I ended up opening up a second card to get iAdvance started...now up to £500 limit...just waiting for them to shut it down again.

I have run two credit builder accounts, improved my credit score by 50%.

So, just open another card when the iAdvance runs out.

rich_shot2003

I have not long opened a account with Cashplus and have been using it for about 3 weeks now.

so how long could it be till iAdvance show up on my account?

also i see now most of there services are now free so how do they make any money out of this?

im sure there was fees for taking cash out of a cashpoint but is now free some years ago.

rich_shot2003

I got a £50 loan from them last Friday and paid it today and now the tab has gone now.

but i can still go overdraw by £5 so looks like will have to wait to get another loan.

yes i paid it early but you would think they would offer more loans to people that pay early but does not seem that way.

georgiasmum

what is iadvanc?

john1002

iadvance is a loan similar to a payday loan, high interest and is accessed using your cashplus card. It is a service that you get invited to join and has been shown in the posts having it once is no guarantee you will get another opertunity.

john

egrescrimp

The APR on those loans are scary!

csashton

My iadvance has been removed too,actually it was the first time id used it and i only borrowed a tenner to see how it worked lol,i never withdraw the tenner i just left it in the account and it was paid back the day after,i was hoping i could do this a few times to try and build my credit report

but now its been removed

anyhoo.... i read above that you could run two credit builders at the same time,how does one go about this ? apply for another card ? or contact them and ask to set up a second credit builder term/loan ?

Claire71uk

My experience is been since they began the service in 2008.

I have two cards, my first from 2006 then my second, obtained after first iAdvance stopped. The second costs a little more to withdraw cash £2.00 compared with First card £0.99. I use one only for payments and direct debits. The other for spending money. I feel this gives me a little more control. No one can spend the bill money, which means no unpaid direct debits.

Re: iAdvance. It will reappear depending on circumstances. Usually it returns anywhere from 3-6 months. Restarting at £50 with increases up to £500. The rates are very high, and is reported to credit bureaus, but not all. Repaying early means the iAdvance feature won't reappear until beyond the original payment date. Also, usually only allowed to take 3 loans at a time within credit limit.

My hubby got a card too, but was offered an overdraft which suits him.

So, I do currently run two credit builders just to see, it makes very little difference on the credit repair. My credit improved 50% the first year, but hasn't improved much after bankruptcy now 3 years past.

I also use the euro and dollar card as some sites only take these payments. Plus it's really simple to transfer money to either of these cards.

Although, I still do not like the online crashes, but they're few and far between.

This card has saved my bacon, many a time ... Since faster payments are free and can be sent from any recognised uk bank and arrive same day, usually within two hours. So, able to monitor cash flow, and bills.

But note, payments sent from one APS card to another takes the whole day... and should be done before 1pm to arrive same day.

Also, have both cards registered on Quidco, received almost £600 in CashBack that covers my monthly card fees, as payments are BACS to my card.

Goldenlady

It's ironic how many of us has had the CashPlus iAdvance facility removed, especially when the payments are as regular as clockwork!

I've been with CashPlus for about 2 years; the iAdvance gradually increased from £50 to £250 and I ALWAYS made the payments on or before the agreed date. There was only 1 instance when it wasn't on my account; when I called to query I was told it "wasn't guaranteed and was by invitation only." Ironically, the next day it reappeared on my account!

Since I repaid my Cashbuilder loan (in December) the iAdvance has vanished. I called again last week but this time was told it was assigned "at the Company's discretion, based on certain criteria." But I couldn't be told what the criteria was. So, I told them that MY custom was at MY discretion and MY criteria, and if I was making payments on time and they had no real reason for taking away the advance, then I'd take my business elsewhere!

I checked my credit file and the Creditbuilder loans showed up, so I applied for (and got) a bog-standard Aqua card. I'd planned on cancelling the card at that point but a friend (who introduced me to CashPlus) said he got the iAdvance reinstated after 3 or so months, so I'll wait until this month's end before cancelling for good. If CashPlus don't want my business, there are other companies out there that will get it.