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Posted: Tue May 31, 2011 3:26 pm
by Anyen
Hello all, have just found out if u get a pre paid crdeit card, it will build up yr credit rating. Just thought I wud let u know
Posted: Tue May 31, 2011 4:23 pm
by kallis3
I wasn't aware that they showed up - they're not credit cards as you can only spend what is on there.
Posted: Tue May 31, 2011 6:26 pm
by ginger3232
Kallis - there is only a few of these cards that help with the credit building as they charge the yearly fee altogether and get you to sign a loan contract for these fees, hence you have a credit loan contract on record.
Posted: Tue May 31, 2011 6:26 pm
by kazzafunk
If that is correct then that's a great way of repairing your credit rating post-iva. I was just going to keep my mobile phone contract and get a Vanquis card if I ever felt the need!!
Posted: Tue May 31, 2011 6:56 pm
by kallis3
That is a new one on me. I've got a couple of prepaid cards but with no annual fee. Not that I use them now I have a proper debit card with the bank.
Posted: Tue May 31, 2011 8:20 pm
by ginger3232
Helpful and informative website - as with any of these things you need to read and understand what your signing up to (some of them have minimal time contract)
http://www.what-prepaid-card.co.uk/cash ... -loan.html