Myvesta UK FAQs

Category » Credit Card and Debit Card Questions

There were 8 questions found in this category:

1. authorised user
   Question: My mother has put me as an authorised card user of her credit card, what is ny resposibilities if she does not pay up. Am I legally bound to pay for it? Answer: As an authorised user you are not responsibile for the debt if the card holder does not pay. You can review the terms and co ...
2. Can adebt be written off if I have no contact with the lender
   If you have an unsecured debt and have had no contact with the lender for 6 years or more , the the debt can be considered to be Statute Barred and you would not have to repay it.
3. Could I offer an amount thats less than what is owed to clear my credit card?
   If you have funds available but not enough to clear your debts in full, your creditors may accept a lower amount as a full and final settlement. Most creditors will accept 80% without question , but you can try negotiating from anything as low as 50%.
4. If I am made redundant and claim on my card and loan payment protection insurance for help will it affect my future prospects for credit?
   It is doubtful that it will impact your future ability to get credit once you are employed again but it is also doubtful if they will actually pay something meaningful to help you during the time you do not have income coming in. We can't remember the last time we saw a PPI policy actually pa ...
5. I've been denied a upgrade to my account after bankruptcy and can't get a debit card. What can I do?
   MORE INFORMATION: Hi, I was discharged from my bankruptcy in September and have at present the Nationwide Cash Flex Account. I Have asked to upgrade my account to a debit card flex account so I can use the card instores but was told by Nationwide that this could not be done for a couple of years ...
6. I've fallen behind on my card payments. I went to use my card and it was declined. Why?
   Credit card providers are using more automated tools to help them minimise losses. One of these tools is the automated system to de-activate credit cards to prevent delinquent customers from using the card to spend more.
7. My lender wants to give me a loan to consolidate my credit card debt with them. Should I do this?
   In 2005, lenders like Egg, Abbey and Barclays were targeting credit card customers who were borrowing large amounts of money on credit cards and taking a long time to pay it back. The lenders were encouraging these customers to convert these accounts to a more structured loan. The feeling was t ...
8. I need a credit card but I'm having money troubles. Can you help me get a credit or debit card?
   Recognising the need that many people have to have access to an international payment processing platform, Myvesta has introduced the Myvesta Cashplus MasterCard. This pay-as-you-go chip and pin MasterCard facility is available to all of our IVA clients and can be use in precisely the same way ...