pre paid credit cards

Jam555s

hi there, do pre-paid credit cards update the credit ref agencies as to how the acc is run,
ie to build up a credit score

CLAPTON

no there is of course no such thing as a prepaid credit card (unless you include egg money).
they are not credit cards as you cant have credit and they are not reported on your credit file and so dont affect your credit rating.

ravenk

What are they cards I have seen ads for ? You load them with cash and use them like money. Saves carrying cash.

Mmmm ....Would you trust them ? I would stick with carrying cash myself.
For a start a computer outage would leave you dead in the water.
Also do they pay interest on the money you have loaded onto the card ?

tom188

No but neither is interest paid on the cash you have in your back pocket and you will be offered some protection if your card is stolen, unlike with cash.

They also allow people who cant access a payment card through normal channels (ie they have a poor credit history) to make purchases on the internet.