creditbuilder is the new way to enhance your credit rating while using your cashplus prepaid gold MasterCard®.
Part one is a cashplus prepaid gold MasterCard. This has many of the useful benefits that a credit card can provide, but it won’t get you into debt. That’s because, like a pay as you go phone, you put your money onto your account before you can use it.
The second part is a unique feature that you can add to the card at no extra cost, called creditbuilder.
creditbuilder is designed to help you get a better credit rating by giving you a small, interest-free loan of £59.40 that pays the 12 monthly fees that you would pay for a year’s use of the cashplus card up front. You continue to pay your normal £4.95 activeplus monthly fee, but now each month counts as repaying an installment of the loan, which we report to the credit reference agency.
You just have to make sure you have £4.95 in your account every month, and meanwhile you’ll be able to enjoy all the advantages that come from having a prepaid MasterCard.

Lenders may like to see that you have successfully repaid debts in the past before they will give you credit. If you’re new to the UK, or you’re only 18, or you’ve never had credit before, you may suffer from a “thin credit file.”
creditbuilder is a great way to add information to your credit profile, so you could start building a credit history. This helps to show lenders that you’re a reliable, credit-worthy customer.

If you’ve been refused credit or find that you’re only offered credit cards with a high APR, you may be suffering from a low credit rating.
The more loans you’ve successfully repaid, the better your credit rating is likely to be. creditbuilder is a low-risk, low-cost way of adding a loan repayment to your credit history to raise your credit score. This should improve your chances of being approved for credit products in the future.

If you’ve missed payments for credit cards, not paid back a loan or you have County Court Judgments, you may have a bad credit history. Lenders could see you as a bad risk and refuse to give you credit.
The best way to repair your credit history is to have some successful loan repayments on your profile, which improve your credit score. creditbuilder is a great way to add a positive footprint to your credit history, and start to repair the damage made to your credit rating in the past.
It’s works exactly as we’ve described it, and you don’t pay a penny more with creditbuilder than you would with a normal activeplus account.
As long as you carry out the steps we’ve outlined to you, and manage any other credit or loan accounts responsibly, you should see your credit rating improve. In fact, we asked some of the leading credit industry experts to help us to develop this service - just see for yourself what they have to say about creditbuilder
When it comes to repairing credit ratings, there’s no magic wand.
If you successfully follow the simple steps involved in using creditbuilder, it should make a positive impact on your credit rating. But of course, we can’t guarantee to repair your credit rating because it may only make up part of your overall credit score.
So please be careful to pay all your bills on time, don’t have too much available credit open to you on credit cards, run up huge balances on your cards or take out loans that you’ll struggle to repay.
Please see the "How can I improve my credit rating?" section for more hints and tips on getting a better credit rating.
"The creditbuilder feature will enable these people to show credit card, loan and mortgage providers they can regularly make monthly repayments and so build their rating at no extra cost"
Steve Willey, Head of Cards and Payments at moneysupermarket.com