Pre Paid Credit Cards

[louiseh]

Is it possible to get a pre paid credit card when entering into an IVA, if so where from and how does it work, do you need to inform? I'm not happy about using a debit card online.
Thank you

[i_a]

Hi Louise,

Yes it is possible and there are quite a few available now. I'm proposing an IVA at the moment.

Try googling prepaid credit cards and you will get loads of hits. The ones I would recommend looking at are Easykard or Cashplus Mastercard.

However neither are free - you have to pay a monthly fee and may be charged for purchases but they are good if you need to shop on-line etc.

I've just applied for an Easykard and was accepted immediately - as you are not applying for credit they guarantee to accept you.

Hope this helps.

[go_4_broke]

Another (and cheaper) way round this is to get a named card on someone elses account! By which I mean partner/friend/relative etc. It's best if it's already maxed out so you can't get them into anymore trouble. Then you just pay on what you need before spending it.

-Best

'5 years sticking my head into the Lion's mouth of debt !'

[Welsh Boy]

I would like to add please be cautious when you are parting with monies for such services. I have come accross companies who promise to get you a bank account with more than just basic banking services, they want a deposit into their account to get this for you and when they have your money obviously they can`t. They also guarantee credit cards with vey high credit limits with mainstream lenders, once again they asked for something in the region of £250 to deliver this but once again it`s too good to be true likewise any companies that promise un secured personal loans and want paying for the service. The old adage "if it sounds too good to be true it probably is" comes to mind here. My motto is money is hard to get hold of but easy to get rid of. Be on your guard.-Tony

[louiseh]

Thanks for the advice, also do I need to inform my IVA provider if I apply for a pre paid credit card.

[aguise]

Hi Louise

I dont think there is any need as you are not obtaining any credit it is in effect just a top up card you can only spend what you pay onto it. I did ask my company and they said no problem for that reason. I am lucky my bank account is just providing a debit card ( but only for funds you have in the account), otherwise I would have got one as its difficult to pay for some things without one.

Ang

[MelanieGiles]

Your IP does not really need to be made aware of this, as you are not taking any credit.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk