118118 Money - Actually not terrible?

Dandytf

118
29% apr 0% t/fers 6 mnhs.
24% apr -No /fers offers.

I could be tempted to apply 24% apr.

Though Zopa is temping 27.9%

I honestly don't particularly enjoy looks of each card.
p.s. who are 118 118  and Zopa.

Thanks 

dr_adidas01

Dandytf said:

118
29% apr 0% t/fers 6 mnhs.
24% apr -No /fers offers.

I could be tempted to apply 24% apr.

Though Zopa is temping 27.9%

I honestly don't particularly enjoy looks of each card.
p.s. who are 118 118  and Zopa.

Thanks 

I have a Zopa Credit card at 6.6% with the initial limit of £2k which I took out last October to see what they are like and because it’s a goodish travel card.  

No one has ever noticed what it looks like as they generally don’t see it when using contactless or chip and pin. 

The card it bright I agree, I guess you are considered a higher risk than me with them offering you a 27.9% apr. 

The 118118 card is bit tacky looking I agree but again nobody would actually see it that often to be honest. 

Dandytf

dr_adidas01 said:

Dandytf said:

118
29% apr 0% t/fers 6 mnhs.
24% apr -No /fers offers.

I could be tempted to apply 24% apr.

Though Zopa is temping 27.9%

I honestly don't particularly enjoy looks of each card.
p.s. who are 118 118  and Zopa.

Thanks 

I have a Zopa Credit card at 6.6% with the initial limit of £2k which I took out last October to see what they are like and because it’s a goodish travel card.  

No one has ever noticed what it looks like as they generally don’t see it when using contactless or chip and pin. 

The card it bright I agree, I guess you are considered a higher risk than me with them offering you a 27.9% apr. 

The 118118 card is bit tacky looking I agree but again nobody would actually see it that often to be honest. 

thanks I'm considering letting one or two cards go due to very little use.
I certainly am not currently considered as market leading rates, due to decent cards uptake during 2021.

I enjoy App based cards, though find I swap between them at my own leisure for Groceries.
I know I could drop maybe Bip+Cap 1 immediately.

Only decision is to try another App card such as Zopa or try 3rd rbs card -Rewards 26.8% -though I get cash rewards from their banking App so no immediate reason other than a 3rd generous limit.

 
Decision's....
p.s. most cra reports are reminding me to limit applications, most recent car finance Dec 21'

thanks

NoodleDoodleMan

"There is no age discrimination, someone 70+ is not their target market and they could well die (statistically more likely than someone younger) and leave a debt to be written off. People 70+ also may have limited earning options beyond a pension hence they want people with employment ."

That's a very generalised scenario.

No other credit card provider (to my knowledge) has such age criteria - happy to be proven wrong of course.

There are many retired people well under 70 (as well as over) who have comfortable pensions, (from various sources) that provide decent "earnings" equal to or better than others still in employment.

If an applicant has sufficient income and a good credit rating then age should not be a deciding factor - especially as the credit limit on offer is modest.

Fighter1986

NoodleDoodleMan said:

"There is no age discrimination, someone 70+ is not their target market and they could well die (statistically more likely than someone younger) and leave a debt to be written off. People 70+ also may have limited earning options beyond a pension hence they want people with employment ."

That's a very generalised scenario.

No other credit card provider (to my knowledge) has such age criteria - happy to be proven wrong of course.

There are many retired people well under 70 (as well as over) who have comfortable pensions, (from various sources) that provide decent "earnings" equal to or better than others still in employment.

If an applicant has sufficient income and a good credit rating then age should not be a deciding factor - especially as the credit limit on offer is modest.

Of course it's also possible that other credit card providers also don't accept applicants of a certain age, but don't publicly disclose that criteria.

It's ludicrous anyway, as you rightly say age isn't such a heavily weighted determining factor in affordability; my 72 year old mother has three pensions, five figures in the bank and no mortgage so has all of us beat 10x over on affordability.

[Deleted User]

NoodleDoodleMan said:

"There is no age discrimination, someone 70+ is not their target market and they could well die (statistically more likely than someone younger) and leave a debt to be written off. People 70+ also may have limited earning options beyond a pension hence they want people with employment ."

That's a very generalised scenario.

No other credit card provider (to my knowledge) has such age criteria - happy to be proven wrong of course.

There are many retired people well under 70 (as well as over) who have comfortable pensions, (from various sources) that provide decent "earnings" equal to or better than others still in employment.

If an applicant has sufficient income and a good credit rating then age should not be a deciding factor - especially as the credit limit on offer is modest.

The post says that the bank say they don't offer the cards to 70+ people. If someone is 70+ as above there are reasons why they don't want to offer it. SAGA could offer finance to those under a certain age but they don't, because younger people are not their target audience, even if someone had £1m a year income and would be a great earner for them

Of course it's generalised, that is how finance works, they don't do 10 million rules for each customer they have

NoodleDoodleMan

Just out of curiousity - do 118 118 terminate a credit card when the holder reaches 70 ?

dr_adidas01

NoodleDoodleMan said:

Just out of curiousity - do 118 118 terminate a credit card when the holder reaches 70 ?

Why don’t you ask 118 118? I don’t think anyone on this forum would know for sure without asking them directly!!  

NoodleDoodleMan

I'm not that curious - not being eligible !!!

dr_adidas01

NoodleDoodleMan said:

I'm not that curious - not being eligible !!!

Kinda contradicts what you said earlier, where you said you were curious. 😂