Fancy improving your credit rating?

You could improve your credit rating with icount through Creditbuilder™ – one of our most valuable features – 0% APR Representative

CreditbuilderUsing Creditbuilder™ whilst maintaining your other credit repayments could help improve your credit rating.

More and more of us fail to get the best deal on certain products and services because of credit ratings. This can be the deciding factor in getting a mortgage, loan or any other form of credit.

If you fall in to this category, or never obtained credit and want to as well as have CCJ’s then look no further, add Creditbuilder to your account….it doesn’t cost any extra!

Why should I add Creditbuilder to my icount?

  • No credit checks
  • No admin fees or additional charges
  • Improve your credit rating
  • No bank account needed
  • No extra interest rates to worry about
  • Lenders like to see you have successfully repaid a form of credit
  • We report to the Credit reference agencies and as long as you keep up to date with your payments, help show you are a creditworthy individual
  • Improve your chances of obtaining credit in the future

Who can get it?

Total Access Pay Monthly cardholders can sign up for this service which could improve your credit rating. Your credit rating is vital to your financial health and this facility is proven to work!

How do I get it?

Adding Creditbuilder is easy. Login to your account via the Members Area and select the “Creditbuilder” tab on the left and follow the simple instructions.

Once you have done this you will receive a confirmation email from Cashplus and then another welcome email once your Creditbuilder account has been finalised.

Please note that offer availability is based on the account remaining in good standing and meeting APS’ credit criteria 

Sounds good…but how does it work?

Our issuer, Advanced Payment Solutions Ltd (APS) who market under the Cashplus brand lends you a full year’s-worth of monthly fees in advance, interest-free.

The “loan” is paid to Advanced Payment Solutions Financial Limited (AFL), so no money changes hands and it’s never available to spend… think of it as a virtual loan.

What you then need to do is ensure you repay the loan with 12 small monthly installments of £9.95 (the monthly fee) and we’ll pass on your payment history to the credit reference agencies after 3 successful months.

By keeping to this agreement and ensuring you make all your monthly payments on time, you have in effect shown that you can manage credit responsibly and assuming you manage any other credit responsibly your credit rating should improve.

At the same time as this, you will be able to use your black icount prepaid MasterCard to make purchases online and in-store as well as ATM withdrawals wherever the MasterCard Acceptance Mark is displayed…. that’s some 32 million locations worldwide!

Is there a catch?

it is imperative to mention that payments must be made on time each month to avoid damaging your credit rating further, as we have to report both on-time and late/missed payments to the credit reference agencies.

To avoid this, make sure that your account always has a balance equal to your monthly fee, of £9.95.

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Creditbuilder™

Updated on 2017-06-19T13:23:49+00:00, by Paul Gailey.