Level Card 29.9

Dandytf

Nice to see  a recent 100% pre approval -no guarantee of course.
29.9%apr is amongst the rates of acceptance recent years, not the best and almost 10% short of the highest held rate.
Is it a good idea to apply, if accepted maybe get into shopping habit and pay off in full each month.
This is only 2nd recent pre approval rate -last years was money card which I didn't apply.
t.i.a.

D3xt3r5L4b

No. I would concentrate on clearing your existing debts before taking on more.....

born_again

Pre Approval by who?
3rd party site or actual card provider?

Dandytf

born_again said:

Pre Approval by who?
3rd party site or actual card provider?

Didn't apply not provider pre approval, this is from clear score today.

[Deleted User]

Noticed this Level Card from Lendable in a recent ClearScore email today. Decided to run the eligibility checker (directly from Level Card's website, not ClearScore) and it came back that I'm approved for a card with a limit of £200 - £1000. However I have to download the App to apply fully.

Anyone got experience of this card? 

EDIT: Just found out that it appears they charge interest from date or purchase so no interest free period. Plus a number of reviews claim they don't report to any of the credit reference agencies and if that is true then it's not going to help build your credit files. Also everyone only gets a £200 limit. 

[Deleted User]

Deleted_User said:

Noticed this Level Card from Lendable in a recent ClearScore email today. Decided to run the eligibility checker (directly from Level Card's website, not ClearScore) and it came back that I'm approved for a card with a limit of £200 - £1000. However I have to download the App to apply fully.

Anyone got experience of this card? 

EDIT: Just found out that it appears they charge interest from date or purchase so no interest free period. Plus a number of reviews claim they don't report to any of the credit reference agencies and if that is true then it's not going to help build your credit files. Also everyone only gets a £200 limit. 

Double check the terms and conditions of the card - all cards charge interest from the point of purchase, but waive it if you pay in full by the due date

[Deleted User]

Deleted_User said:

Deleted_User said:

Noticed this Level Card from Lendable in a recent ClearScore email today. Decided to run the eligibility checker (directly from Level Card's website, not ClearScore) and it came back that I'm approved for a card with a limit of £200 - £1000. However I have to download the App to apply fully.

Anyone got experience of this card? 

EDIT: Just found out that it appears they charge interest from date or purchase so no interest free period. Plus a number of reviews claim they don't report to any of the credit reference agencies and if that is true then it's not going to help build your credit files. Also everyone only gets a £200 limit. 

Double check the terms and conditions of the card - all cards charge interest from the point of purchase, but waive it if you pay in full by the due date

That's understandable but going off the reviews folk are being charged interest on the first statement.

magpies79

Well it just so happens I’ve taken up this card few days ago as I am also trying to rebuild my credit file was pre approved and excepted card arrived yesterday limit £1,500 but the way I read it is your charged regardless of balance being cleared in full only took out as apr was 24% where as my vanquish was like 39% this is in my email of the credit agreement.

vary the interest rates we can charge you are set out in section 12.3 of this agreement. The rate of interest that we charge you will not differ according to the type of transaction that you carry out with your card. We will not charge you a different rate of interest on amounts that you owe us that have become overdue.

5.4 How we charge interest

We charge interest on all purchases, cash advances and unpaid interest from the date these transactions are added to your account until they have been repaid in full. Interest is calculated and accrued at the end of each day and is then added to your account once a month on the date we produce your statement. Interest will be accrued and added to your account even if you pay off the whole of your account balance as shown on consecutive statements. If you do not pay your Minimum Payment Amount in full by the payment due date each month we will charge interest on the unpaid part of your interest.

6. How we allocate your payments

Where your repayment is not enough to pay off the full balance outstanding on your account, your repayment will be applied in the following order to pay off:

(a) any overdue amounts from previous statements; then

(b) the remaining balance on your statement; then

(c) any recent transactions not yet shown on your statement.

magpies79

Interest is calculated and accrued at the end of each day and is then added to your account once a month on the date we produce your statement. Interest will be accrued and added to your account even if you pay off the whole of your account balance as shown on consecutive statements.

doesn't that imply you’ll still accrue
interest even if balance is cleared in full? If so this card will not be getting used.

Dandytf

Slightly off topic though I still haven't applied for this card.
I see mser's are stating the card is from lendable, that's my recent loan company, though 15% apr, quite reasonable whilst I get closer to re built rating.
I don't like that card idea is there aren't any interest free time to clear balance.
Sounds rather expensive.
Though could try their direct eligibility checker as a matter of interest.

Dandytf

Pre approval continues today.
Your credit limit: £200 - £1,000
No need to Apply for this card.