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Scottish Trust Deed Forum
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Topic starter
27/02/2012 10:14 am
Hi all
Hope you had an enjoyable weekend.
This may sound daft but I have a couple of questions about a pre-pay credit card.
1. Am I allowed a pre-pay credit card when I am in a trust deed?
The reason I ask is that I fly home regularly have to get someone else to use their credit card - it is just for security purposes i.e. if the company goes bust I'm protected if you purchase with a credit card.
2. I was thinking of joining one of these "hamper" sites that they advertise on TV to save for Christmas - am I allowed to do that?
Sorry if this sounds dumb but once bitten twice shy!!!
27/02/2012 11:29 am
I had a pre paid credit card without any issue. There's no credit check involved in getting it as there isn't actually any lending involved as you are loading the cash you already have on to it. Mine was with O2 and it was completely free to have but they stopped the service for everyone with the promise of a replacement of some sort but so far nothing. Not sure about the hamper thing but presuming it's also a scheme whereby you put the cash you have into it as a saving of some sort so can't see any issue. Have never entertained the thought of them though considering the people who lost a lot of cash through the Farepack hampers when they went bust.
Glad that's over with....
27/02/2012 11:44 am
There is nothing stopping you having either a prepaid card or joining a farepack type scheme during a TD.
I too had a very handy O2 card which has been withdrawn and as all the rest charge fees for either loading cash or taking cash I wont get another.
Basically any cash you have spare if you can make savings on allowances is yours to do with as you please.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
27/02/2012 12:04 pm
Hello Neverendingstory.
You are allowed a pre-pay credit card during your trust deed. In fact there are no rules stopping you from using credit during a protected trust deed, but as upstream said it isn't credit anyway.
As plasticdaft says, cash you can save from your allowances is yours to spend as you please. Personally I'd steer well clear of those hamper schemes and just put the cash in a savings account to be used for whatever purpose it's intended for (or required for) later.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
27/02/2012 1:11 pm
TDA I was refused savings accounts during my TD(co op,even though my current account was with them)!!!
No credit checking no borrowing just flat refused!!
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
Topic starter
27/02/2012 1:23 pm
Thanks all for your replies - I actually having a savings account (with 0.20p in it) so I think I will just put what money I can save into that!
Thanks for the info on the credit card - shame you now need to pay for this service too!
27/02/2012 1:43 pm
I find it amazing that some prepaid firms charge you to put your own money on the card AND charge you again to take it out!!!
I am sure with time you can get that 20p to grow into £20,and then into something bigger.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
