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Posted: Mon Jan 09, 2012 9:03 pm
by Est2680
I have completed my last payment and am now waiting for the completion certificate which I believe can take up to 6 months. Is there any benefit to me applying for a pre payment card now to start rebuilding my credit rating and if so which ones do you recommend.
Posted: Mon Jan 09, 2012 9:08 pm
by kallis3
Hi,
Hopefully you will have your completion letter soon. A prepaid card won't help you too much in building up your rating.
Keep mortgage payments, mobile phone and bank contracts up to date and that will help.
You could try getting a credit card such as Vanquis which, as long as you pay it off every month, will help your credit rating.
Posted: Tue Jan 10, 2012 9:21 am
by artemischild
Hi Est
Just be aware until you recieve your certificate your still under an IVA, i would personally wait until you have that before applying for any credit.
best wishes
Arty
Posted: Tue Jan 10, 2012 9:46 am
by plasticdaft
As Jan says prepaid cards do nothing for your credit file as no credit is used. A vanquis card(high APR)may be available to you even with the IVA on file but I'd be tempted to wait until the IVA drops off the credit file before applying to boost your chances of success.
Paul