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The only prepaid credit card that rebuilds your credit

 

A bad credit rating can limit your borrowing options. County court judgments, defaulted payments and bankruptcy orders leave a black mark against your name when trying to secure credit.

Usually, the only means of credit available in these circumstances is through what is know as the sub-prime market, where would-be borrowers are charged high rates of interest to reflect the perceived risk to the lender.

Cashplus and Credit Builder

Cashplus have teamed up with Credit builder and is a new function of your cash plus prepaid gold MasterCard, which could help you to improve your credit rating just by continuing to pay your normal £4.95 monthly active plus fee.

If you have been refused for a credit card or loan, you are new to the UK or you have missed payments on bills, you could suffer from a bad credit rating. creditbuilder is a simple way to help repair or build your credit history, and increase your chances of being accepted for credit products in the future.

You do not need a bank account. You do not need to pass a credit check. There are no additional charges or interest payments - you don't even need a stamp to send us your application form!

As soon as you are a fully verified cash plus customer*, you are eligible to join credit builder .

How can you improve your credit rating?

1. Make sure you are on the electoral register as lenders use it to confirm your name and address. Local authorities have also started compiling a rolling register for people who have moved, so you won't have to wait a year until a new list is compiled.

2. Ensure that you and other family members always pay your bills on time. A lender will see information relating to your other family members when you apply for credit and this may affect their decision. If you are estranged from your family, you can ask the agency to separate the files.

3. If you are turned down, don't then make a series of applications for credit in the hope of finding one lender who will give you money. These applications will also appear on your file and you may look desperate for money, or even worse, it may look as though you are trying to commit fraud.