What is creditbuilder?
creditbuilder is a new facility available with your cashplus gold card, which could help you to improve your credit rating just by continuing to pay your normal £4.95 monthly activeplus fee.
If you have been refused for a credit card or loan, you have missed payments on bills or you are new to the UK you could suffer from a bad credit rating or lack of a credit history. creditbuilder is a simple way to help repair or build your credit history.
You do not need a bank account. You do not need to pass a credit check. There are no additional charges or interest payments – you don’t even need a stamp to send us your application form!
How does creditbuilder work?
If you are a fully verified cashplus customer, you can apply to have creditbuilder added to your account.
The creditbuilder application forms are very easy to complete. You simply have to fill in your name and address details, sign and date the forms and send them with a photocopy of your passport, driving license or EEA State ID to FREEPOST CREDIT BUILDER. You do not need to add any other address details, and you do not need a stamp.
When accepted onto creditbuilder, Advanced Payment Solutions Limited will loan you one years’ worth of monthly fees totaling £59.40. As you continue to pay your regular £4.95 activeplus monthly fees, the loan is gradually repaid, until it is satisfied after a year.
During the year, you can continue to top-up and use your cashplus card as normal. You just need to make sure you have enough money in your account for the £4.95 activeplus monthly fee every month.
If all payments are made on time we report that you have successfully made 12 loan repayments to the credit bureau. The more successful loan repayments you have made, the better your credit rating will be.
What does creditbuilder cost?
It does not cost anything to have creditbuilder added to your cashplus account:
- There is no administration fee.
- There is no additional monthly charge.
- The APR on the loan is 0.0%, so you do not pay any interest.
- All you have to pay is the normal monthly activeplus fee of £4.95 every month for a year, and you could improve your credit rating.
What is the catch?
There really is no catch.
Of course we want our customers to keep using their cashplus cards for as long as possible. With creditbuilder, we simply loan you a whole year’s activeplus monthly fees up front of £59.40, and you pay them back with 12 monthly payments of £4.95.
In the meantime, you can continue to enjoy the benefits of a cashplus gold card. You can still top-up and use your card as normal, whether it is while traveling, shopping online or sharing money with your additional cardholders.
Contacting us
Contacting us about creditbuilder
creditbuilder can help with debt management
If you already have a cashplus prepaid MasterCard click here to get your creditbuilder application forms:
creditbuilder can help with debt management
Not a cashplus customer yet?