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My brother is moving to the UK next month, he has no history in this country as he has been born abroad and never lived in the UK in spite of being a British citizen. I would like to help him build his credit score, using Google led me to this prepaid card Cashplus.

They claim they can help you build your credit score even when it's a prepaid card. How is that possible? I have had over 15 prepaid credit cards over the last 10 years and it never showed up on my credit report?

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  • Note that these agencies offer absolutely nothing you can't do by yourself. Get a secured credit card from any bank, use it for a while so you have a reporting history, and exactly the same thing happens -- and you don't have to pay a bunch of rather shady individuals a fee to tell you this. – keshlam Jul 11 '16 at 13:10
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They claim they can help you build your credit score

Able to get one willn't build your credit score but the usage will. The usage of a debit card/ credit card/ bank card helps building up a profile of yours with the tracking of how you use credit. Considering that citizens who have had a credit record, loose all of it when they are out of UK after a certain period(not exactly sure how long), that is why Britishers who have been living abroad for quite long run into troubles with credit institutions because of non existent records.

Did you read this part of their website where they mention how the credit record is built ?

Advanced Payment Solutions Ltd (APS) lends you a limited fixed amount which goes towards paying for all or part of a year’s use of the account, 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

Just repay the loan with 12 small monthly installments and we’ll pass on your payment history to the credit reference agencies

Make all your monthly payments on time and you’ll have shown that you can manage credit responsibly

Just seems like a way to play around the rules, but not illegal. So primarily they push your score up by showing you have used their credit responsibly.

And if your brother works he can get a no frills account from one of the high street banks, which is a more better option.

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  • Right. What the credit agencies want to see is evidence that you make the payments on time and manage them card's usage at least semi-rationally. – keshlam Jul 11 '16 at 13:06

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