Prepaid cards are not offering credit so you don’t have to pass credit checks or sign up to credit agreements. They are accepted at all the locations that normal debit cards are and can be topped at most post offices and a number of retail outlets.

Prepaid cards are also ideal for those concerned about identity theft and online security. The can be used as a “back up” card for these circumstances.

We have compared two of the most popular cards below. We like these cards as the fees are reasonable and they are easy to keep track of your balance via the internet and SMS messaging. The more control you have over your finances the better.

Prepaid Cards Compared

	360money	Bread
Initial Fee	£5	£10
Annual Fee	£4.95	£0
Transaction Fee	2.5%	2%
ATM Fee	£1.50	£1.50
Top Up Fee	30p per £10 (3% of total	3% of total
Overseas ATM	£1.99	£1.99
	APPLY HERE	APPLY HERE

We will give you a quick overview of what your credit rating is and some quick tips on how to repair it.

What is a credit rating?

• Credit references agencies collate information about your financial background. Previous borrowing, completed loans and even limits on credit cards to name afew.
• Lenders see this information when they decide whether or not to offer you a loan, mortgage or credit card. It influences their assessment of the likelihood that you will repay them.

Information comes from two main sources:

• Public records, such as court judgements, individual voluntary arrangements and bankruptcies.
• Your credit report also shows whether you are registered to vote – lenders use this as a precaution against fraud, to check that you are who you claim to be and live where you say you do.
• Information from lenders and financial institutions, such as records of the number of loans you have and whether you have ever missed a repayment.

How do I repair my credit rating?

Theres one critical thing, time. If you have previous defaults or CCJ’s large lenders will take these into account for up to 7 years. Making sure you are on time with payments is important as lenders now track this information

You must be fully aware of the contents of your credit record. If there is false or inaccurate information this can seriously harm your chances of obtaining credit. You have the right to view and modify any information that is contained in the record. Its extremely important that it is accurate so lenders can make an accurate decesion.

The easy way to check your credit report is to log onto CreditExpert, the credit monitoring and identity protection service from Experian. They provide a free 30 day trial so you can make sure your credit rating is accurate and up to date.

Click here for your free 30 day trial of Credit Expert.

This is an excellent service as it keeps you informed about the current state of your credit rating and even alerts you if there is potentially fraudulent activity on your credit file.

We are pleased to expand the range of products we offer and aim to find the best value for you.

Check out our new Personal Loans and Secured Loans
and get a free, no obligation quote today.

If you are not an existing Flex Finance customer you can read the about us here

If you have any questions or would like to apply for any of our products please contact us.

08000 43 53 22 or info@flex-finance.co.uk