Mastercard Rebuild Credit

Build your credit histories

In cooperation with Capital One, thinkmoney has brought its first credit cards to market. Credit cards are used to help bad credit earners rebuild their credit histories. It' s perfect for those who want to increase their creditworthiness as long as it is used wisely and you always make periodic payments on schedule.

Your credit cards can help you. However, the map can also be adapted to changing needs. Their credit line is checked periodically and you are given up to two raises per year. Although, 1,500 is the max available border. There' s no need to even sit around and see if you get approved - you can review your resume in advance with QuickCheck.

Doing so will not affect your credit reports. A number of different instruments are available that a creditor will use to determine whether or not to grant you a loan, and your credit record is one of them. Part of the point why your request may be in vain is if your credit record is judged bad against a lender's credit rating.

Their credit histories can be considered bad if you have lent it in the past and have not repaid it, or you have never taken a credit before, so you never had a credit or debit cards or a credit line, for example. It is not necessary to have a good credit record to qualify for the credit cards.

However, you are more likely to be acceptable if you are 18 years old, on the voter list and able to present a credit management brief. The Think Money Ltd (credit intermediary).

The APS expands cashplus with the addition of the credit builder feature with prepaid golden master C.....

New credit builder functionality, designed by Advanced Payment Solutions (APS) and supported by the Consumer Credit Association, will provide monetary repayment for the more than 8 million UK shoppers with poor or no credit ratings. As the first credit card provider of its kind in Europe, it is a new addition to APS's pre-paid MasterCard range and is available without surcharge, interest, delay or preferential charges.

Designed in response to frequent enquiries and constant customer feedbacks, the services were designed to help clients rebuild their credit and learn how to use it in a responsible manner. The credit builder is supplied with the pre-paid MasterCard golden cash-plus. There is a default annual charge for the year and then the card holder repays the credit each and every day at a £4.95 per annum rate and reports it to the CRA.

After 12 month the credit is cleaned with APS and would help to build or enhance the customer's credit standing as a happy credit. Rich Wagner, Founding President and CEO of Advanced Payment Solutions, said: "Our information shows that the client is paying on schedule and is fully paying off the lender credit and is behaving in a responsible manner towards other credit product whose creditworthiness will be improved.

"Responding to heavy demands from card holders and consumers' organisations, we have found a way to provide a credit builder feature without charging customers more than they already have. Director of the Consumers Credit Association (CCA), Jack Bennett, says: "This is an outstanding effort, at no additional cost.

CCA promotes the creation of alternatives that can help rebuild people's lifes and help transform their spend habits. It does not oblige the cardholder to have a banking or credit checking relationship, so it is a reasonable and inexpensive option that also gives the cardholder the opportunity to obtain a credit that they can use on-line and abroad with purchasing protections.

" One of the most frequently asked question we get about pre-paid cards is "Can you restore my creditworthiness?" Myles Davidson, Managing Director of the pre-paid payment platform What-Prepaid-Card (formally Which-Prepaid-Card), says. In the past, the consumer had little choice but to request a special high interest rate credit line intended for credit to clients with poor or no creditworthiness.

" MasterCard's Global Product Head of PrePaid Europe Chris Reddish said: "We believe that the solutions developed by APS is one of the most cutting-edge solutions we have seen in the payment processing sector for some now. They help clients who want to fix and improve their creditworthiness. "The credit builder offers in additon to the many advantages already offered by the award-winning APS cash-plus pre-paid gold MasterCard, which allows clients to manage their expenses.

Claimants do not need to go through a credit assessment or banking process and can use their card at over 25 million retailers and over 1 million cash dispensers around the world. The APS also offers consumers voluntary purchasing security in accordance with the requirements for conventional credit card payment according to § 75 KWG.