g8bvl
 |
showing you can be trusted to pay for credit and be responsible with money means that you will be more attractive for people to lend you money or give you credit in the future after previous ccj's or defaults have been registered against you on credit referencing companies databases |
|
hillyrose28
 |
No they do not. But getting a secured credit card from your bank will. A secured card is used by allowing you credit based on an amount you put down. The 'secured' part is kept in an account 'in case' you do not pay your bill on time. It is different than a prepaid card. After about 6 months with a secured card you should have a higher credit score. |
|
mschaka77
 |
you have to make sure that you get the ones that do report to the credit bureaus then the answer would be yes! |
|
wpgcoder
 |
Of course they do... why wouldn't they? According to my source, prepay credit cards are the best way to improve or repair bad credit. |
|
cubalishus
 |
You know I never thought of that and I have one myself, I got it cause I am sick of paying interest to the greedy guys who give out the credit cards, will have to check now and see if you get credit ratings for using pre paid cards, thanks. |
|
bella_4624_19
|
A pre-paid credit card does not report to the credit bureaus. A secured credit card will report on your credit report. Go to your local bank or credit union and get a secured card. |
|
captmhunt
 |
NO |
|
peaches
|
Yes to a certain degree. The best if you can is to try to establish a revloving line of credit where you make payments. This lets the credit reporting agencies know hwat kind of payment history you have slow, average good. etc. This information is then relied back to you credit history and that is how you can get more. |
|
endsjustmeans
|
Prepaid credit cards (which are actually debit cards) do nothing for your credit. I heard they did nothing for them, but I had to see. I used to carry one, and it does not reflect. |
|
smalltownangel
 |
I wouldnt see how. its just like having a prepaid cell phone. You never have anything to pay later so it doesnt prove your responsible with credit. |
|
mindy
|
no. they are prepaid, so there is no "credit" involved, no bill, nothing. thats like asking if a gift card would do the same thing.
or just buying something. |
|
tartansinatra2
|
As per another answer, prepay cards CAN help your credit rating. Your (CAIS) credit rating is assessed from all of your outstanding credit you have with many major financial service firms, local Councils, utilities and County Court Judgements/ penalties.
By using a prepay card to pay your major bills (gas, electric, water & Council Tax) over the phone or online on time or at least relatively quickly, this info feeds back positively into your credit records as these big firms report back to Experian and Equifax, who maintain your credit data.
Credit card companies also report back, so paying your credit card bills very late or not at all feeds back negatively.
Even applying for an increased bank overdraft, another credit card, another bank loan, etc is recorded, so it can all have an adverse affect.
By using a prepay card you are relying less on credit, which can ultimately improve your credit rating.
It therefore doesn't matter if you use a credit card, bank card or prepay card - neither directly affect your rating, only when and how much you pay towards your bills.
FYI - I have heard of cases where people who never buy on credit or borrow - and because there is so little credit data, have no credit rating at all! |
|
| |
|
Homepage 
Financial
Forum 
Credit 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
