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Originally posted by ambertails

just been accepted for my card and with it i'm with experien (i think) for identity theft, no plans to use the card until the day before payday for say £10 fuel o i know it can be paid. TD will discharged next year (early) so bring it on!!!![:)]

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Exactly my plan 😀 I tend to run out of petrol on a Thursday and get paid on a Friday, save me going into an overdraft!

I applied and received one, booked hire car waited a couple of days went online and paid the account in full. How good it felt to pay the account off in full from savings.
Can't wait for our break now.

Mark

I just had a panic reading your post from earlier - is it a criminal offence to have ANY credit in sequestration or just to apply for more than £500?

I used my prepaid mastercard for car hire and I know they 'lock off' £500ish (More if it's a bigger car they give you) if you don't take their beefed up insurance cover. It gets put back on when you return the car undamaged but sometimes it's a couple of weeks before that happens. Would this be seen as a breach of what's allowed in sequestration?

It is only an offence if you apply for more than £500 without first advising the lender that you are an undischarged bankrupt. To be honest I'm not sure that a pre-paid card strictly counts as credit anyway.

Hope that's the case Kevin, it was nerve-wracking as it is waiting while the clerk scans her/his screen.
Prepaid card was accepted online for booking, but this 'lock-off' element has grown over last few years with the offer of paying twice the daily rate to reduce the insurance excess-taking it up to the £500 range.

Hi RBSB.

Presumably the card was only accepted for this amount because you'd preloaded sufficient credit onto the card first?

Yes,that's correct, it was pre-paid and effectively couldn't be spent once it was locked off.

OK RBSB. Not credit then, so nothing to worry about it would seem.

Cheers!

Ok, well in case others who are still in their TD are interested, I just went ahead and applied for a Vanquis Card on Sat (final payment to TD paid but discharge not yet through) and they called me yesterday and said I'd been accepted! - so yay!

I'll be using it for the monthly petrol costs and setting up a direct debit for the full amount each month 🙂

Good stuff Jengis3006.

When managed in that way using a credit card can be useful and help to rebuild your credit rating over time.