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Prepaid Mastercards

taonanne
taonanne Posts: 1 Newbie
in Credit file & ratings





Are Prepaid Mastercards , reported on your credit file - in order to improve credit ratings?

such as cashplus prepaid, The Virgin Prepaid MasterCard, not sure what the point to them over a debit card.

Comments

  • manami_mnm
    manami_mnm Posts: 79 Forumite
    taonanne wrote: »





    Are Prepaid Mastercards , reported on your credit file - in order to improve credit ratings?

    such as cashplus prepaid, The Virgin Prepaid MasterCard,

    No as they don't provide credit facility. Although CashPlus has a program called CreditBuilder which reports your monthly fee payments to CRA's.
    taonanne wrote: »
    not sure what the point to them over a debit card.

    Some people can't open a bank account, hence they resort to a prepaid debt card.
  • teffers
    teffers Posts: 698 Forumite
    Part of the Furniture 500 Posts
    taonanne wrote: »

    not sure what the point to them over a debit card.

    I keep mine in my car as an emergency CC - only £30 on it.

    Just in case I leave my wallet at home (which usually saves me money lol).

    If it gets stolen from a break-in I'd rather lose a PAYG CC than my real one.
This discussion has been closed.
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