Hi everyone,
I'm just wondering if Woolies' Everyday Money reloadable Pre-paid Mastercards affect your credit rating/history in any way. Does it appear like as if you're asking for a credit card or something like that?
Does Woolies' Everyday Money Reloadable Pre-paid Mastercards affect credit history?
Trance N Dance on 12/08/2011 - 14:54
Last edited 13/08/2011 - 10:34
Last edited 13/08/2011 - 10:34
Comments
No personal details are collected when you buy one of these - just like buying a gift voucher.
You need to sign up online, and they ask for:
- Name
- DOB
- Address (for obvious reasons so they can send you the card)
- Nationality
- Driver's license, "not essential but helps us to identify you" (they are required by law to identify the card user, this is what's making me wonder if there's a credit check, and the fact that the can actually go into negative balance if the fees incurred are more than the available balance)They do collect personal details for the Reloadable Ones, the non-reloadable ones are like gift vouchers though.
Recording my details isn't the problem, they already have it from the everyday rewards, and I'm a ANZ customer already.
I'm only wondering if this card will affect my credit rating in any way.
Anyone else know anything?
Thinking of getting one soon, and want to be sure that it's not going to affect anything.this is not a credit card, this is a debit card. debit card = saving account, it only use the credit card network only.
you never heard debit history right? but you have a credit history, that is the different.Not sure on this but logic would dictate.
As you cant go into debt with the card, then the negative effect of the card on your rating is likely to be zilch.
On the other side of the ledger, it can show that you are responsible, although given its not possible to overspend, ie like cash, then there is no credit being extended, so the financial boffins can't judge your capability to handle their money.
But then there maybe something else their data knows about this card use/users. In that case you will need to get an insiders response. Have you tried googling your question?
Yeah I have tried but I haven't found any results yet.
Might as well bite the dust and just get one, like you said ozpete by logic it shouldn't affect me in a bad way. It'll be more than 7 years till I buy my first house anyway, should be plenty of time for any bad credit to go away lol.
mate, have check your keycard that linked with your transaction /saving account? the renew card, most of them either debit mastercard or debit visa card.
hsbc - debit visa card
citi - debit visa card
cba comsec - debit master card
bankwest - debit master cardthis is just marketing from master-card and visa, they want people switch from eftpos network to their network. initially will be free, when they become bigger then they will start charging you with extra fees.
when you buy travel card money from cba or travelex, do they asked your income etc? the answer is no.
remember credit history to check if the customer has good history to pay their debt. when you use your debit card, you are using your own money. no debt has been rise against your account when you use your own money.
Does anyone know if these count as a debit card? Would be cool if this allowed me to participate in the MasterCard Debit Card promos, the one with the concerts and what not.
I did think about getting a debit card from a bank, but I really don't want to open another bank account. Already have two and I don't want another.
it is debit card, if can see the word debit, it is debit card
It's not a credit card as such-it's a debit card that allows you to use it as you would a credit card. No dosh loaded - no buy anything. you can't get int debt so shouldn't make any difference to a credit history.