"What the experts say"
Jack Bennett, The Director of the Consumer Credit Association (CCA), says:
"This is an excellent initiative, with no extra charge. CCA encourages the development of alternative financial services that can help people rebuild their lives and change their spending patterns. The card doesn’t require applicants to have a bank account or to undergo a credit check so this is a sensible and affordable solution which also gives cardholders access to a card they can use online and abroad, with purchase protection."
Chris Reddish, Global Product Head of PrePaid Europe at MasterCard says:
"We believe the solution created by APS is one of the most innovative products we have seen in payments industry for some time. It truly helps customers wanting to repair and improved their credit standing."
Steve Willey, Head of Cards and Payments at moneysupermarket.com says:
"The significance of this is huge for people who have either lost their credit eligibility or for migrants who have no credit footprint at all. 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. APS should be applauded for its innovation to help people take the first step back to credit eligibility."
Myles Davidson, Managing Director of independent prepaid card comparison site What Prepaid Card says:
"One of the most common questions we receive about prepaid products is ‘Can these they rebuild my credit rating?’. APS has succeeded in delivering a solution to address a real need in the prepaid community. Previously consumers had little option but to apply for a specialist credit card, with high interest rates, geared for lending to customers with bad or no credit history. We are particularly pleased APS has chosen to give this to consumers as a free feature, like its purchase protection, when they could have charged a premium for it."
So if you’re serious about wanting to improve your credit rating, apply now.
creditbuilder can help with debt management
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creditbuilder can help with debt management
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