Anyone managed to get the 118118 money credit card?

Highland76

I know this card has a high APR (34%) but this means nothing if you clear your balance every month. The main perks of the card are free cash withdrawals both at home & abroad (no forex fees) with no interest charged if full balance is paid off. So easily the best credit card for cash withdrawals both at home and abroad.

https://www.118118money.com/credit-cards/

Has anyone successfully applied for the the 118118 card? I failed their eligibility check. Ditto for a family member living elsewhere. None of us have any credit issues. Curious to know why they don't seem to accept applicants with a near perfect credit history.

[Deleted User]

They appear to, from the Trust Pilot reviews on their site.  They're unlikely to all be fake, although a fair chunk may be manipulated.

Gerry1

Highland76 said:

I know this card has a high APR (34%) but this means nothing if you clear your balance every month. The main perks of the card are free cash withdrawals both at home & abroad (no forex fees) with no interest charged if full balance is paid off. So easily the best credit card for cash withdrawals both at home and abroad.

https://www.118118money.com/credit-cards/
Has anyone successfully applied for the the 118118 card? I failed their eligibility check. Ditto for a family member living elsewhere. None of us have any credit issues. Curious to know why they don't seem to accept applicants with a near perfect credit history.

118118Money are virulently ageist: 70 or over and you're instantly rejected.

This clearly seems to contravene the Equality Act 2010, the official guidance for which states that "in making any risk assessments based on age, the company must base its assessment on relevant information from a source in which it is reasonable to rely.

"Individuals will be able to challenge a financial service provider if they think a risk assessment is arbitrarily based on their age rather than on relevant information from a reliable source."

Challenge them if that's relevant !

block10

https://www.118118money.com/credit-cards/
....... None of us have any credit issues. Curious to know why they don't seem to accept applicants with a near perfect credit history.

The clue is in 118 money's mission statement, it targets those with less than perfect credit reports.  It can only cover all of them 0% fees, by the prospect of the borrowers paying interest on balances. You likely dont fit this profile.

MABLE

We tried their eligibility checker just for a quote and received the following email from them. I never officially applied for the card and was concerned they have carried out a hard search without my permission. However on checking my credit report from TransUnion it is only shown as as soft search. One is a quote and the other as affordability.  Hopefully the same will be appear on my Experian report. If it shows differently then I will certainly be making a complaint bearing in mind it was the eligibility button I pressed. 

	Hello Thank you for your recent application for a 118 118 Credit Card. We're sorry, but your application has been unsuccessful. We've taken in to account the details that you provided to us in your application together with additional information that we obtained from credit reference agencies like TransUnion and Experian. If you'd like to understand more detail about your credit file, please feel free to contact these agencies directly via the information below - but be advised that they may charge a fee for accessing your file.
	TransUnion One Park Lane Leeds LS3 1EP Tel: 0330 024 7574 https://www.transunion.co.uk/contact-us/consumer-enquiries
	Customer Support Centre Experian Ltd PO BOX 9000 Nottingham NG80 7WP Email: consumer.helpservice@uk.experian.com
	In addition to the credit reference agencies we also use a fraud prevention agency to assess your application.
	CIFAS 6th Floor, Lynton House 7-12 Tavistock Square London WC1H 9LT

Stuart_W

I was rejected, I have a good credit score with no defaults etc, which is probably why I was rejected. They will only want to lend to folk in their target sub-prime profile as they will rely on this for any hope of making money. They want people that will be attracted by no late payment fees and free cash withdrawals who can't immediately pay back. They'd lose a fortune giving me one!

Highland76

Thanks Mable. So i wonder if their eligibility checker has been designed to accept only those with a less than perfect credit history? Also I've noticed you can't proceed to the full application (with hard search) unless you pass their eligibility check. 

Highland76

Stuart_W said:

 They want people that will be attracted by no late payment fees and free cash withdrawals who can't immediately pay back. 

I think you're spot on. Oh well, would have been nice to get the card but its not the end of the world  

MABLE

Highland76 said:

Thanks Mable. So i wonder if their eligibility checker has been designed to accept only those with a less than perfect credit history? Also I've noticed you can't proceed to the full application (with hard search) unless you pass their eligibility check. 

TBH I only did it out of curiosity. Did you get the decline email like myself?

floppydisk1

I tried for fun and presto - rejected too ( but offered " help " on their website if I struggle financially ) .  They clearly want people who struggle financially and will pay their juicy APR ( to finance free ATM withdrawal ) , not interested at all in customers with good credit history and who pay their CC bills in full each and every month. I did not get  a decline email as I refused to be contacted.  That - or I might be mistaken  and my bank and other ( not subprime ) credit card lenders made a big mistake in accepting me  lol

Highland76

MABLE said:

Highland76 said:

Thanks Mable. So i wonder if their eligibility checker has been designed to accept only those with a less than perfect credit history? Also I've noticed you can't proceed to the full application (with hard search) unless you pass their eligibility check. 

TBH I only did it out of curiosity. Did you get the decline email like myself?

Yep, got the same email.