Cashplus....long term benefits

According to http://www.moneysavingexpert.com/credit-cards/bad-credit-credit-cards#cashplus, this is intended for last-resort use for a year to demonstrate fully paying off a loan:

Is it really worth it? Well, it's an expensive way to improve your credit, but after 12 payments, it should show on your credit history as a fully repaid loan agreement. This should make you a more attractive customer to many companies, hopefully meaning you can apply for better credit-card and loan deals.

Once the 12-month loan is paid off then continuing to pay monthly doesn't seem sensible to me, as it's no longer a credit facility.

Also worth noting that, according to the same MSE article, "Your payments will only be reported to Experian, not Equifax or Callcredit. This may help your record at Experian but won't have an effect on your record at Equifax or Callcredit. Keep this in mind as not all lenders check all credit bureaux before accepting or rejecting you for credit" so its effect on his credit file is limited.

Is he monitoring its effect on his Experian credit file with a view to applying for more mainstream credit products that use Experian?

I opened a Cashplus Freedom pre-paid debit card in order to easily send money to my nice - who I got a second card for. The "Cashplus Freedom" had no monthly fees and no usage fees.

Well under their terms and condtions they can change your terms provided they give 60days notice. So they left a message on the online website to let me know they would change me over to a card that had a £4.95 per month fee. That was all they did - no letter to my registered home address, they knew that I did not regularly use their online website to manage the card as I simply found the balance on the card from an ATM machine outside a bank. Indeed they blocked me from using their online account management as I had not logged into it frequently enough.

However, this did not stop them changing my account over to a monthly fee one.

I think this is very poor service - they get you hooked on a fee free card and then change you over with just one message sent to your online card servicing account. They have my home address and I also signed up for SMS text messages about my account.

So watch out for this company... look elsewhere for a better more open and informative service. I am closing my account after withdrawing my credit balance.