Anyone point me to a credit card that accepts bankrupts who are happy to keep a positive balance?
I need a card for the odd occaison when my electron card isn't accepted, quite happy to bung some cash into it to put it into credit.
You wont find one.
I doubt such a company exists, since a) credit cards aren't actually supposed to be in "credit", b) they wouldn't make much money off you, c) you were bankrupt, who's going to trust you with a credit card?
Why not just bung some cash into your wallet instead?
I agree. Giving a credit card to a bankrupt is a contradiction in terms.
Credit cards are all about borrowing money.
Bankrupts are all about how not to pay it back.
The two don't mix.
AMO
Uhhh, are you lot in the real world?
I want to hire a car in Spain when I go on holiday and they want a credit card to book it online (not a debit card which I have) for their own reasons - don't know why. If they took debit card I have enough funds to give them any deposit they could possibly want - £5,000 - yep no problem. But they don't want a debit card or cash, they want a credit card.
So, I KNOW there are prepay credit cards available with a credit limit of £0 - ie you need to pay into it before you can use it and the credit card co makes 4% on each transaction and the interest on the money you have in the account - just don't know who does these now - have seen them advertised in the past.
Anyway, you sanctemoniuos (sp) fools, what I have been though with my bankrupcy you may well be next in line to experience - borrow against an inflated property value and lose the lot when the market falls.
So I'll wave as you go down, cos I've been there and apart from minor inconveniences like a poxy credit card I am far better off than you - I owe nothing to anyone!
Err, :
GUARANTEED ACCEPTANCE £1500 minimum opening balance Credit limit 66% of deposit Gold card available £4500 deposit Platinum card Available £22,000 deposit Bankrupts will be accepted Very private account - highly recommended No credit checks will be made
Thatnks for your helpfull contibution but:
That took me 2 secs of googling, I'd rather not pay the £185 intro fee.
Anything like that is a scam.
You really want to pay them 4,500 pounds deposit for the odd occassion when your electron card isn't accepted?
Don't you think that your attitude tells you more about your reasons for going bankrupt?
You seem to be very immature.
I am happy to owe money to people who have provided me with goods or services or loans. You appear to be someone who is happy not to pay his debts.
The whole idea of wanting a credit card is suspicious for me. Are you sure you are not wanting to renege on your debts yet again?
No, not really, their lowest one is £1500 which would be fine by me. I NEED a credit card for no other reason than hiring a bloody car, I'd be happy to pay up front in cash or by debit card, but it must be credit card
- try it yourself.
I run my own business now, have a turnover in excess of £200k a year and always have a bank balance in excess of £20k - yet I can't hire cars when away on business or holiday which makes travelling to customers in foreign countries impossible unless I take an employee who can take their card. (And you can't just book a car with someones card from here, you then need to produce that card when collecting the car).
Hardly, a prepay credit card means that you have to put cash into it before you can use it, and it stops when you reach a zero balance.
Therefore the credit card company is always in debt to you, not the otherway around.
What if you use the card below the floor limit of the merchant?
You can run up debt that way.
You don't need a CC to hire a car, nor to present one when picking it up. As a victim of pick pocketing I picked up cars where the employer had cleared the rental in advance without me needing a CC or even a DL. However this was not a web booking but where the employer had a contract with the rental co. and could fax confirmation to the far office in advance saying they agreed to cover me.
Plenty of others have done the same deal without CC or DL. Those make rental companies' lives easier and they like to see CCs & DLs (even though they almost never check DLs unless insurance claims are needed). How about hooking up with a chain to clear a booking from the "home" side first. Won't get you a bargain but OTOH won't require a CC either.
The replies didn't seem to imply any sanctemoniuosity (sp) on their part, as far as I could tell. No-one is judging you for becoming bankrupt!
Although you do appear to be having trouble renting a car in spain, which presumably the `fools` aren't. Perhaps it's better to wait until you've climbed back to the top of the hill, and then taunt people?
Sounds like a sensible policy to me. A person with a credit card is someone who is trusted to repay money hence can probably be trusted to bring a rented car back. If I rented vehicles to strangers I'd probably not take electron either.
Hi Kermit
What you're looking for is a debit type card that you can use online and is accepted where credit cards are accepted.
I have a prepaid Visa card that works in those cases and got it from
Hope this helps you - sorry if it's too late
Nikki
That looks just the ticket Nikki, (apart from the fee) I'll certainly consider it.
Hang on a bit, anyone can get a credit card and get a usable balance - regardless of whether they have the intention or capability of paying it back. Transaction below the floor limit are not verified for available credit. Transactions can and do bounce. Credit cards are used by lots of people because they are NOT creditworthy - they need to borrow on expensive cards to fund their lifestyle.
Debit cards on the other hand are cleared funds, verified for every transaction, and the holders are using their own money not borrowing off someone else. Debit card transactions only bounce in cases of fraudulent use - but as each transaction is verified - cards can be quickly stopped regardless of a floor limit.
I know which I would rather take.
I've trawled through every major car hire company and lots of minor ones looking to hire a car , and sooner or later it comes down to 'No electron cards, only major credit cards' - only exception I've come across with this is a local van hire place who take the entire deposit of £350 and then refund it when you bring it back. Spose I could drive a tranny to Spain!
Kermit, there are no doubt people out there that are willing to give you a credit card. Most of them will have a catch somewhere.
I stand by what I say. The concept of a credit card is a bank lending you money and you paying back with interest. The concept of a bankrupt is how to shrug off his debts.
A credit card works by charging interest on the amount you are borrowing unless you have an introductory rate or clear the balance at the end of the month. No bank is going to give you a credit card where you are always in credit so that it results in them pretty much offering you a free service. There will always be a catch somewhere. Furthermore, people that are in a bankrupt state rarely try to get a credit card if they wish to put their life back together and owe nothing.
What you are doing is purely something along the lines of: a) Find a credit card company that is stupid enough to open an account for you. b) Spend on that credit card in a foreign country before the banks receive the transaction. c) When you come back, tell the banks that you're a bankrupt and what did they expect.
Its only in the U.K. where legislation is weak that people like you can get away with taking the pi$$ out of bankruptcy.
Its only because so many students have taken the pi$$ to wipe the slate clean when many other students are doing their bit to pay off their debt.
However, legislation is becoming tigher now. In most other countries, once you become a bankrupt you can never start a new company again. Shame you were able to.
You claim to run a business with 200K turnover and you need a credit card? Ever heard of paying in cash, cheque, bankers draft, transfer, travellers cheques?
AMO
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