Need to rebuild a bad credit history? New ‘last resort’ option.

clint1974

This card also does have cash advance facility my max is £50 but i think it depends on your credit score to how much your offered. I'm presuming this info is also reported to the CRA's?

[Deleted User]

Hi
It looks like a long time since anyone posted on this thread but maybe someone will be around who can help.

I see that one of the 'Top 2' forms of ID required are a current passport or driving licence. My handbag was stolen when I was hospital visiting last week (words can't describe the scum who steal from people in hospitals:( ) and my driving licence was in it:eek:. I applied for a replacement on Friday but could be waiting some time for it to arrive. So, of course, I've just dug out my passport to find it expired 18 months ago:o . I never go abroad now and only used it once soon after I first got it and so put it safely away where I forgot all about it. I never intended to renew it anyway as I don't intend to go abroad again but all this talk of required ID is making me wonder whether it is worth the hassle and expense of applying for a new one.

Despite the ravages of time the photo on it looks remarkably like I do now so I wonder whether anyone has had experience of successfully using an expired photo ID for the Cashplus and Creditbuilder ? I really wanted to get this applied for today if poss.

All help and advice very welcome.
Thanks all

slg_sue

I have had my creditbuilder/cashplus card for just under a year now. I am not worried by my credit rating, I know its in the toilet and I am not planning on getting anymore credit until we want to remortgage in a few years time.

I prefer this card/account to my account with Lloyds where I can only take money out from a Lloyds Bank machine and where I cannot get for love nor money an upgrade! With my cashplus account I can pretty much take my money out (for free as I pay £4.95) at any machines, it doesnt like the ones you have to pay for or the Co-Op, can use it whereever I like and I also have a £100 overdraft limit if I need it.

I recommend this card to anyone with bad credit, whether its to improve it or if you want a facility that in my opinion is better than some bank accounts. Hope that helps someone

BugsyBrowne

slg_sue wrote: »

I have had my creditbuilder/cashplus card for just under a year now. I am not worried by my credit rating, I know its in the toilet and I am not planning on getting anymore credit until we want to remortgage in a few years time.

I prefer this card/account to my account with Lloyds where I can only take money out from a Lloyds Bank machine and where I cannot get for love nor money an upgrade! With my cashplus account I can pretty much take my money out (for free as I pay £4.95) at any machines, it doesnt like the ones you have to pay for or the Co-Op, can use it whereever I like and I also have a £100 overdraft limit if I need it.

I recommend this card to anyone with bad credit, whether its to improve it or if you want a facility that in my opinion is better than some bank accounts. Hope that helps someone

In your opinion its better then bank accounts,maybe if you had a decent bank account with a better credit rating I'm sure your views wouldn't be the same.

formidible

I found that after 6 yrs of poor credit rating was finished my credit rating went back to the better side of average automatically, without my taking out any of the credit builder cashplus cards. As soon as your 6 years is up I suggest you check your credit rating free with Experian (its totally free for a month and you can check online). I also suggest you make sure you are registered on the electoral role where you live. You can then upgrade to an ordinary bank account with a fixed overdraft to help improve your rating, and also a credit card that specialises in building people with a limited credit record or poor history.

You can also check your general credit rating totally free for life by using Noddle. It gives a reasonable indication without an actual number score, and you can check all your personal details and accounts with creditors are correct:-
https://www.noddle.co.uk/?showSocialMediaLightbox=True

Ontherightroad

Hi all

First time 'poster' but have been using MSE site for years. I've been in a DMP for nearly a year and things are going well so far, however I thought getting one of these cards may help. I still owe RBS approx £800 payable in monthly instalments via Step Change. My question is if I load money onto this card, could RBS come in and swipe it in the same way that the horrible Pay Day lender did to my bank account before my DMP?

Thanks for your help in advance. I hate to think where I would be now if I hadn't found out about Step Change from this site last year.

Miss_Ratty

Sorry if this has been answered elsewhere, but I know this thread is quite old and the situation may change as well as the terms and conditions.

Basically, i am on a mobile phone contract which I'm hoping will rebuild my credit, but will this also help? I tried last week to apply for one of the other cards for people with bad credit (I was discharged from BR in 2008), but got refused.

Two questions really, if I apply for this will it also assist, i.e. build upon the mobile phone contract (which currently hasn't made any difference!), and do you have to physically pay the fee, or can you just make sure it is available on the card for them to take? I was just going to use the card for prepaying my petrol and obviously make sure there's enough to pay the fee, but if you have to set up a direct debit or go into a post office to pay it, it becomes a bit more hassle-some! Can you also transfer money from your current account or do you have to go into a post office? (So three questions really!!) x

BugsyBrowne

Miss_Ratty wrote: »

Sorry if this has been answered elsewhere, but I know this thread is quite old and the situation may change as well as the terms and conditions.

Basically, i am on a mobile phone contract which I'm hoping will rebuild my credit, but will this also help? I tried last week to apply for one of the other cards for people with bad credit (I was discharged from BR in 2008), but got refused.

Two questions really, if I apply for this will it also assist, i.e. build upon the mobile phone contract (which currently hasn't made any difference!), and do you have to physically pay the fee, or can you just make sure it is available on the card for them to take? I was just going to use the card for prepaying my petrol and obviously make sure there's enough to pay the fee, but if you have to set up a direct debit or go into a post office to pay it, it becomes a bit more hassle-some! Can you also transfer money from your current account or do you have to go into a post office? (So three questions really!!) x

Best way to build a credit history is a credit card where in your position Vanquis,Cap1 classic,Aqua

Miss_Ratty

I was declined the Cap1 classic, so don't really want to go down the route of applying for another which does a credit check :-(

guesswho2000

Miss_Ratty wrote: »

I was declined the Cap1 classic, so don't really want to go down the route of applying for another which does a credit check :-(

Well, if you were declined for the classic, one more search won't hurt. Apply for Vanquis; if you're declined for that, give up, as the only options are Rise or Shout, which are basically a payday loan in a plastic card.

Seriously though, Vanquis is worth a shot, but that's the benchmark - if you can't get that then you need to concentrate on 6-12 months more credit building, then apply for it again.