aps infographic 12-12-2013 - good repayment history can benefit your credit rating. ™ ®...

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  • How a prepaid card could improve credit ratings

    How to improve your credit rating

    You could improve your credit score with Creditbuilder on a Cashplus prepaid Gold MasterCard

    17 County Court Judgements are issued in the UK everyday1

    1,655 £54k The average household


    If bad credit is preventing you from being approved for a credit card or loan then things can get tough.

    Once you’re in debt it can be very difficult to get out of it. Lenders will be less likely to offer you credit. Repaying your debts can become increasingly difficult. You could be given a bad credit score.

    On average, High Street banks only approve 20% of credit card applications. The other 80% of applications are denied due to bad credit.2

    People are declared bankrupt every day1


    1 2 3

    4 5 6

    Don’t be late! Set up Direct Debits Prove your stability

    Cancel unused cards Don’t get stuck in the rejection spiral

    Look for opportunities to rebuild your credit history

    Reasons to get a prepaid Cashplus card:

    Ensure that you’re not late on any more payments of bills and debts. Being late with your payments could damage your credit score.

    If you’re turned down for credit don’t apply somewhere else immediately unless absolutely necessary. The more you get rejected, the worse it will get. Look at why you were rejected and sort out your finances first.

    Use savings to pay off outstanding debts, stay within your financial limits and make sure you’re at least following your minimum repayment plans to start building your credit up again.

    Getting a Cashplus prepaid card could really boost your credit rating. And with a 100% acceptance rate* there’s no risk of getting rejected.

    A Cashplus prepaid card works much like a High Street bank account and debit card, but with the added bonus of being able to help improve your credit rating. You can usually only spend what you top up on the card - allowing you to control your spending whilst increasing your credit score.

    No credit checks to open an account

    No direct links to bank accounts

    Makes it easy to pay bills on time

    Can set up Direct Debits

    Add Creditbuilder which could help you build your credit score

    Includes Purchase protection

    Easy to set up standing orders

    Direct debits could help your credit score by ensuring your payments are made on time. Just make sure you have enough money available in your account to cover payments.

    Convince the banks that you’re in a stable position in your financial life. Make sure there are no gaps in your employment or household history.

    Having too many credit or debit cards might be causing problems, so look for opportunities to lower your available credit. Just remember, long-standing bank accounts with good repayment history can benefit your credit rating.


    new debt problems are dealt with by the Citizens Advice Bureaux every day1


    Every 17 minutes a property is repossessed1

    7 Find the right card for youA credit card might not be the answer. A prepaid card is easy to manage and will help you stay within your financial limits. Use it in addition to the steps above and you could be on your way to a better credit rating.


    1. http://themoneycharity.org.uk/debt-statistics 2. http://www.moneysavingexpert.com/loans/credit-rating-score#improve


    *Subject to terms and conditions including applicant being resident in the UK & aged 18 years+. Some features and services are only available to customers who have been fully identified and verified. Cashplus is issued by APS Financial Ltd (AFL) pursuant to license by MasterCard Interna- tional Incorporated. AFL is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money. Cards are serviced by Advanced Payment Solutions Ltd (APS) which operates the card on behalf of AFL. All credit facilities are provided by APS and are subject to approval. Creditbuilder is only available on monthly pricing plans.

    Creditbuilder, iAdvance and Debit Protect are registered trademarks of APS. AFL & APS registered address is 6th Floor, One London Wall, London

    EC2Y 5EB. Registered in England and Wales under company numbers 06029941 & 04947027 respectively. MasterCard and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated. The Post Office® and Post Office symbol are registered trademarks of Post Office Ltd.

    Call charges are 10p per min from BT landlines. Call charges from other networks and from abroad may vary. Calls may be recorded.