Does anyone use CommuterClub to save money?

SheckleJack

I actually just bought one of these thinking it was official TFL as there was a bloody great picture of an Oyster card and a promise of savings. I thought it was too good to me anything to do with Boris. Anyway, if I have any problems I will go to Boris to sort it out as I'm sure TFL must have sanctioned this: or prevented it if illegal.

needabed

The benefits they mention aren't great, for me anyway. They say get a month free, but I already get this as I time my annual holidays around the time my monthly travelcard ends. I'm with Santander, they give 3% cashback on TFL fares.

The_Groat_Counter

SheckleJack wrote: »

I actually just bought one of these thinking it was official TFL as there was a bloody great picture of an Oyster card and a promise of savings. I thought it was too good to me anything to do with Boris. Anyway, if I have any problems I will go to Boris to sort it out as I'm sure TFL must have sanctioned this: or prevented it if illegal.

They've got nothing to do with TfL.

www.commuterclub.co.uk/terms.php

Services

We are not in any way connected to or endorsed by Transport for London (TFL). We are an independent organisation providing consumer credit for the sole purpose of the purchase of an Annual Travelcard.

We are not a ticket reseller and as such cannot issue Oystercards or Travelcards. If you successfully complete the application process with us, we place an order and pay for a new Annual Travelcard on your behalf with our rail partner.
...

Their "rail partner" is Abellio Greater Anglia - see the bottom of this page:
www.commuterclub.co.uk/aboutus.php

CommonSenseDude

It's much cheaper to buy the season ticket directly from TFL than from these opportunistic scammers! If you can afford it, get yearly from TFL, if not, get a loan from your bank and get it anyway - you will still save money.

rentingforlife

My two cents here... Not a long time poster so some might see me as credible. I have decided to use CommuterClub for this year. I will list my reasons below, and I believe for me at this point in time it was the best option. You should analyse your own circumstances to decide whether it is the right choice for you.
1) I just started a new job an am not eligible for my company's interest free loan for 6 months
2) I don't have the cash for an annual
3) I wanted to avoid increases on1 Jan (I know it's a teeny tiny amount but it felt good having my Oyster start on 31 Dec)
4) I considered using an 0% credit card to fund this, but as I did that some months ago to finance my masters degree I did not want to take another hit on my credit record for having a large outstanding balance
5) I felt like supporting a small fintech startup as I'm interested in the industry

A friend also joined him, though his reasons are very different.
1) Job does not offer interest free loan
2) Does not have the cash (or more accurately, prefers not to spend it on a one off expense!)
3) Is not eligible for 0% cards as he is new to London and does not have a three year address history - in essence has no credit record in the UK
4) As this comes on your credit record it helps him build it

As this poster details, if saving money is your biggest goal you can do this with careful planning of a monthly ticket: The truth about 'Cheaper Train Season Tickets' + Smarter Savings (on Public transport forum dated 29 Dec 2015)

CommuterClub is merely a convenient (debatable, I know!) way of using a loan to finance your annual oyster. They do charge interest. It shows on your credit record as a loan. If you can finance it any other way for cheaper, you should

Also be very careful of the savings they advertise - this is based on some weird calculation 'including annual leave' etc etc etc and may not be your saving according to your personal circumstances.

PS Loan is financed by Ratesetter - a peer to peer lender. MSE has an article on them.

nonagongirl

Newb, purely created to join in this convo.


I am considering commuter club having nearly run out of my annual 1-2 card. My reasoning is that I am going travelling for 2 months at the end of the year and CC have an option to pause or cancel/restart your card. This looks good to me rather than pay for an annual and waste 2 months of it.


What does anyone think to that idea? I have the money for an annual up front but it would work out expensive if I am not in London for 1/6 of the year. If the suggestion would be go for TFL standard monthly passes, then 10x monthly tickets only works out at approx. £1240 vs the £1296 annual card.


Any help welcomed.

cosmojohnson

Depends if you'd use the additional benefits of the annual ticket i.e. Gold Card discount for 1/3 off train travel in the gold card area, plus 1/3 off off-peak Oyster PAYG outside your travel card zones - is that, plus less hassle of not renewing each month, worth the £55 extra for you?

kookamunga

I've used Commuter Club for my annual travel this past year and it worked great. My concern is saving money this year, I have just got a 0% interest for 24 months credit card so I'm thinking of buying my annual travelcard this month to start on Dec 30th on my 0% interest card.

Does anyone know if an outstanding balance on credit cards is looked down on more than the Commuter Club loan when it comes to my credit score?

jdherty

This is my first post on MSE!

I signed up with them around Christmas so I could keep last year's fares. Here was my thinking:
- The process was quick and relatively simple. I needed to call in to get my zones changed and was on hold for a while but that was pretty straightforward once connected
- The ticket arrived quickly and included an Oyster, Gold Card and new Oyster Wallet. I think the ticket was issued by Greater Anglia as it had their logo on the Oyster
- I did look at 0% cards but actually found the process a total chore. I did research, looked at the Tesco card, began applying and then got a bit put off the process. I would have a card that would sit around for 1 year and I would still have had to then purchase the ticket from TfL (my local ticket office closed, so can I even use a ticket machine to pay £1500!!!!)
- The Gold Card is amazing, and a bonus I had not even known about. I travel to Surrey about twice a month with my wife. 1/3rd off for both of our tickets. Sweet.

For me the tipping point was that it was really easy and understandable. I knew my monthly payments each month and I got to lock in fares...

So far so good, I am pretty happy and can't complain...