New Luma 4% cashback card (supermarkets and petrol)

europa

I would love to know what their selection criteria are. As i said before i do think they are trying to weed out the card tarts, but i wonder how they are doing this given that others here in a similar situation - existing cap 1 (1%) card, good credit rating etc.- have been accepted.
Does anyone think the number of credit cards may have an impact? I have about six.

dotdash79

They will have a number of risk profiles they are willing to lend to, these will have a number of accounts they will allow. You will be assigned a risk profile and then as that gets filled everyone else will get rejected.

At least this is how I think it works.

johnmoney05

Nessie23 wrote: »

Hi I haven't received the card yet but the online agreement they presented did include a "rebates" section, which detailed the 4% cashback for supermarket spend.

As of today I am also able to login online to capital one, and the account summary includes a "Your cashback summary" section. So although I can't confirm 100% everything seems to indicate that it is the 4% cashback card.

Will update once I receive the card.

Hope the above helps!

Nessie

I wonder how you can log in your account before you receive your card? I applied quite a while ago, didn't say I was approved online. But was sent a pin week after my application online. I am still waiting for my card to arrive.

reclusive46

johnmoney05 wrote: »

I wonder how you can log in your account before you receive your card? I applied quite a while ago, didn't say I was approved online. But was sent a pin week after my application online. I am still waiting for my card to arrive.

They email you the log in details.

10_66

johnmoney05 wrote: »

I wonder how you can log in your account before you receive your card? I applied quite a while ago, didn't say I was approved online. But was sent a pin week after my application online. I am still waiting for my card to arrive.

When you applied online you were asked if you wanted to be able to operate the account online. If you answered yes to this you should have been sent 2 emails. The first which confirmed your email address, the second contains a temporary password. You can then sign in using your email address as the username, and using the temp password, which you're then prompted to change once logged in. I received my emails about a week after I'd applied and around the same time that I received my PIN in the post. If you've had your PIN, I would say you should've had your emails by now.

lisyloo

Does anyone think the number of credit cards may have an impact?

I doubt you'll narrow it down to one criteria and I think it's a waste of time speculating TBH.
I have 4 cards and got accepted. I'm a card tart but it all depends on how they measure it. I also have some long standing accounts and they might also look at that.

BTW - I don't have a card yet, but managed to get into my on-line account that told me I have a credit limit of £1500 - that's plenty.

Gromitt

lisyloo wrote: »

I doubt you'll narrow it down to one criteria and I think it's a waste of time speculating TBH.

I agree, to add a little more confusion, I was rejected by Capital One just a few weeks ago, but I've been accepted for this card with a £1500 limit, which is "powered by" Capital One, DD setup by Capital One, and all payments made are to Capital One's collection account.

I've not checked yet, but I'm guessing the credit search will be by Capital One as well...

molerat

The credit search is done by Cap1, no mention of anyone else.

Zorz_2

Gromitt wrote: »

I agree, to add a little more confusion, I was rejected by Capital One just a few weeks ago, but I've been accepted for this card with a £1500 limit, which is "powered by" Capital One, DD setup by Capital One, and all payments made are to Capital One's collection account.

It makes sense, the card operation is outsourced to Capital One but the lending criteria applied, are dictated by MI.

In a few days, it will be 6 months after I got my Capital One card (I guess they mean normal calendar months), so I'll apply for this Luma Cashback using the direct link that was posted earlier. Provided that it still works by then of course.

I checked today MSE's Pre-apply Eligibility Checker and it gives me 90% chance for the regular Luma card and very high percentages for the other bad credit credit cards. It doesn't include the cashback Luma, but I guess their lending criteria are not that off. I won't lose much if I get rejected, so it's worth giving a try.

sivs

An update I applied for the cashback card on Friday 29th November despite being told it was closed.

Today they have confirmed that I have applied for and been accepted for acashback card.

If you haven't already use this link then do to apply as the card is stillopen. http://www.luma.co.uk/cashback-credit-card-ctrl/?channel=display&m=VTS&cam=Cashback&k=finance