New Luma credit card ?

older_wiser

another credit building card available its managed by capital one but i assume thats just the online bit. I don't intend to apply but thought i'd mention it i haven't seen any posts regarding this before.

guesswho2000

Quite a nice looking card too for a credit builder, almost worth applying for on that basis...ok maybe not, but the 0% purchase offer is a bonus for those with a less than spotless credit history.

Pedropunto

I have just applied for one of these cards and been accepted but then they have told me that before i recieve my card and pin with a £200 credit limit i have to pay them £50,now that wasnt in the agreement when i electrnically signed for it online.

older_wiser

I'd be wary of paying anything to get a credit card i know capital one have a secured credit card where you do have to pay something usually between 49-200 pounds to get the card. Luma is something new and hardly anyone has mentioned it i only noticed as i subscribe to the lovemoney newsletter where it was mentioned.

fozmcfc

Pedropunto wrote: »

I have just applied for one of these cards and been accepted but then they have told me that before i recieve my card and pin with a £200 credit limit i have to pay them £50,now that wasnt in the agreement when i electrnically signed for it online.

That's not unheard of, seen a good few people post on here about it. It normally means the person applying has either really bad credit or absolutely no credit history.

It minimises their loss, when they take a risk on someone who is borderline accept/refuse.

SnowTiger

older_wiser wrote: »

I'd be wary of paying anything to get a credit card i know capital one have a secured credit card where you do have to pay something usually between 49-200 pounds to get the card. Luma is something new and hardly anyone has mentioned it i only noticed as i subscribe to the lovemoney newsletter where it was mentioned.

It's a rebranded Capital One card.

The company behind it, MI Money, also offer Granite, which is rebranded Vanquis card.

RichL74

Another one I cant apply for seeing as I ran into difficulty with Captial One in the past.

[Deleted User]

SnowTiger wrote: »

The company behind it, MI Money, also offer Granite, which is rebranded Vanquis card.

In the same way that they offer Fluid, which is a rebranded MBNA?

Demonseed

RichL74 wrote: »

Another one I cant apply for seeing as I ran into difficulty with Captial One in the past.

isnt it the same setup as Aquacard and Halifax where they are in partnership with a different company?
I was able to get credit with Aqua even though I had difficulties with Halifax bank
Im posing this question as well because I would like the Luna card but not in particlarly good standing with Capital one

Can anyone shed some light on this please?

Much Appreciated

joeyda1

thats because you have applied for a secured credit card you have to pay a deposit of £49 or £200 you must have been declined for a classic card and approved for a secure card

joeyda1

fozmcfc wrote: »

That's not unheard of, seen a good few people post on here about it. It normally means the person applying has either really bad credit or absolutely no credit history.

It minimises their loss, when they take a risk on someone who is borderline accept/refuse.

thats because you have applied for a secured credit card you have to pay a deposit of £49 or £200 you must have been declined for a classic card and approved for a secure card