Opinion Please

MadDogWoman_2

Hi

I'm looking for your opinions on the pay as you go Mastercard (tuxedo card) that is advertised on TV.

Is it a good or a bad thing?

I'm thinking of getting one as my bank is refusing to upgrade my account to a debit card - failed the credit check :mad:. It's getting to be a bit of a pain having to traipse to the cash machine get the money out and having to rely on family to order me stuff on-line.

It's the cash machine thing that bugs me most as I have a 4 month old baby and trips anywhere are complicated enough without having to add time for a trip to the bank.

MadDogWoman

LookingAhead

I don't know about that personally.

Is there a forum on MSE for credit cards at all...? If so it might be better known on there.

Anyone else familiar?

postingalwaysposting

if you search for prepaid credit cards on mse you will find lots of articles etc on them... they are good in practice however the fees/charges (ie card charge) is quite high although there is cheaper around

Kevicho

Have you checked out http://www.moneysavingexpert.com/cards/cashback-credit-cards this may be worth applying for, or at least investigating.

Also have you checked out http://www.annualcreditreport.co.uk/ , this might help you find out why your credit score is suffering.

Best wishes

Kev

panicsetin

Have you considered applying to the co-op for a basic bank account? They do a cashminder account with a (I believe) solo or electron card that can be used like a regular debit card. Think the only difference is that its not quite as widely accepted? (feel free to correct me....) As far as i am aware from other posts i have read; a not so good credit rating shouldnt stop you getting the account.

LittlePiskey

While prepaid cards do seem like a good idea be really careful of the fees they charge - these tend to either be a fixed monthly amount or a percentage or set fee for every purchase which can really sting your wallet.

I'd definatly explore your other options first before taking out one of these.

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