Manage debt with a prepaid Mastercard & current account

How our prepaid Mastercard® and current account can help those in debt

If you’re in debt, figuring out where to start to get back on your feet can be a challenge. Thankfully, even small changes can help you to rebuild your financial health and get out of debt. Our prepaid Mastercard® and current account is a great debt reduction tool that can help you to get back on your feet. Take a look below at all the ways an icount prepaid Mastercard® could help you!

If you can’t get a bank account

If you’re in significant amounts of debt, or you’ve been declared bankrupt, you may not be able to get a typical high street bank account. This can make it really difficult to keep your money safe, and manage your budget. If this is the case, you’ll still be able to get an icount current account, no credit check needed. Having a current account will allow you to pay bills and make purchases online, as well as manage your ingoing and outgoing expenses in a budget.

If you have a poor credit score

Having a poor credit score can impact your ability to get a bank account, mortgage, overdraft or credit facilities. There are simple steps you can take to build up your credit score, such as making sure to pay bills and debts on time, and waiting until issues are wiped from your credit score.

If you have an icount prepaid card, however, you can access our CreditBuilder™ tool, which is an easy way to increase your financial health. Simply make sure to pay your account fees on time each month, and we’ll feed back to the major credit agencies that you’ve paid on time, boosting your credit score.

If you struggle to stick to a budget

If you struggle to stick to a budget, or find yourself dipping into costly overdrafts towards the end of the month, then the icount prepaid Mastercard® will likely be a great option for you. Unless you set up an overdraft facility, you can only spend the amount that you choose to load on the card.

This is a great way to control your day-to-day spending – simply top up your card each week with how much you want to spend, and use your icount card for everyday purchases. You’ll find it a breeze to stick to your budget when you spend this way!

If your finances are out of control

If you feel like your finances are out of control, and you need help to get your finances in order, an icount prepaid Mastercard® and current account can be a great place to start. The flexibility of the card means that you can choose how to use it and figure out how to fix your finances. For example, you can add your savings to your icount card. As it’s not connected to your bank account, the money is out of sight (and mind!) so you won’t be tempted to spend it.
For more tips on managing your money, take a look at our money guides, or click here to apply for an icount card today.

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