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Topic starter
22/05/2015 10:43 am
Recently signed up to a MasterCard Cashplus card. You are guaranteed to be accepted as its a pre paid.
Whilst its a pre paid card, if you set up a direct debit through it, it contributes to positive/ up to date status on your credit file.
I put a standing order onto it every month via the bank, and use it to pay a direct debit. In return, I've now had two months worth of Accounts up to date on my Credit file.
Its just another way to get your credit file back into the good, and more importantly, without having to start using credit cards again and fall into the trap you were in previously.
Its just a thought to anyone thinking about it, but its working for me. here is the link... mycashplus.co.uk
22/05/2015 12:15 pm
Hi Rickie1.
Thanks for sharing this information.
Is there a small annual fee that is repaid in part each month? I'm wondering how it would feature on credit reports otherwise.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
22/05/2015 12:44 pm
It's £4.95 per month. Eventually I got offered a £100 overdraft and that's £20 per year. The monthly fee is initially paying back a loan that results in a separate report to the overdraft being reported to the credit agencies. Two green ticks but expensive ones.
Topic starter
22/05/2015 5:01 pm
Hi, Yes, they give you a loan over a year and paid back interest free over a year. You don't actually see the loan, but it works out £4.95p/m. The loan is basically to see if you can manage your money over a period of time. Nothing fancy! Hey, nothing in life is free, and i think its a small price to pay to help get my credit rating back again.
25/05/2015 11:11 am
Ricki , are you finished your TD. Or can you do it while you are still in it? Though I suppose it would have no ultimate effect on credit rating while still in a TD.
25/05/2015 11:21 am
Hi Ann, you can apply for it anytime as there is no creditcheck.
quote:
Originally posted by ann910
[br]Ricki , are you finished your TD. Or can you do it while you are still in it? Though I suppose it would have no ultimate effect on credit rating while still in a TD.
Topic starter
25/05/2015 11:52 am
Yes, there is no credit check against your file. You are guaranteed acceptance.
