Pre Pay Visa Card

pixie_hall

has anyone had any dealings with these. We are trying to help repair my husbands credit rating and these suggest it could help with this?

CLAPTON

a pre paid card does not give credit so is not reported on your credit file.
hence is will not make any difference to your credit rating.

dont waste your money.

pixie_hall

thankyou! i thought that would be the case but the websites are so definite that it will help the credit rating

Cute_'n'_Quirky

The best way to repair the credit rating is to take a small catalogue payment and/or one of the higher interest credit cards, but make sure you pay it off every month.

ispartacus75

pixie_hall wrote: »

has anyone had any dealings with these. We are trying to help repair my husbands credit rating and these suggest it could help with this?

'Apparently' the way these cards help your credit rating is indirect.

The card itself doesnt help your rating, but some people have had success using the card to get a mobile phone contract and the contract helps your rating. Because the card was used to get the contract it has indirectly helped, especially in situations where you would have got a contract without the card.

spinningsheep

The prepaid cards like Cashplus do not work now for getting a contract. I work for 02 in the retail stores and I know we do not accept it, nor does Phones4U or Carphone Warehouse. We have a tool known as URU where we basically check that the card is registered to the owner at the address given by taking an authorsation for £1.01.If the card is not registered to the address they give, or the money is not there,we decline it and we dont even go on to the credit search with Equifax. On the URU, it comes up with a statement in red if you enter a prepaid card number, even though the card begins with the correct Mastercard or Maestro number ie 6759,5209 and it recognises it as a prepaid card and will not let you proceed. Our fraud and security dept say its because the same level of credit and idendity checks are not in place as you would get on a card issued by a bank etc. So please folks do not get one of these cards with the intent of getting a phone on pay monthly, because its likely you wont be able to apply.

James

Greatest danger with Pre-paid cards is they lack banking code protection and are not covered under section 75 of the Consumer Credit Act (card company must pay back cardholder for any losses as long as the purchase price is between £100 and £30,000).