Tymit - Who uses it? What do you think?

Credit Cards & Lending
87

Agreed. The trouble is if they gave you a limit that their own assessment says is not suitable. They must at least have to take reasonable care with their customers

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88

How are finding Virgin Money Slyce compared Tymit?

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89

I haven’t actually used it in anger.

Most of my spending goes on Chase or a cashback credit card.

90

I have. The Virgin app is atrocious - grinds to a halt after a few days and you have to re-install it to get it working again.

When you set up a payment plan to pay off the current month’s balance, the final payment date that it gives is up to 2 months behind the actual payment dates. Also, the payment schedule for the next 12 months that it shows you is completely wrong, and often shows just £0.00 for each month.

I’ve closed mine after just a couple of months.

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91

Looking to sign up, but they’re asking for my bank statement. Problem is I don’t have any income showing in for 2 months.

Would that be an issue? Any workarounds?

Thanks

92

Tymit has been very quiet recently - then meltdown. I wonder what the ‘issue’ actually is. Sounds more like the whole app broke…

We wanted to let you know that we have encountered a technical issue over the bank holiday weekend.

You may have noticed incorrect information showing on your app related to your overall balance, the bill amount due for April, and recent payments may be missing.

Our technical team are working extremely hard to get this fixed as soon as possible and we will keep you updated on any relevant developments.

We have suspended any communications with you about your April bill until this issue is fixed and would like to reassure you if you have a direct debit set up on your account that we will only claim the correct amount.
What does this mean for me?

If you have made a payment to your account since Saturday 29th April, it may not be visible in your app. It is likely we have received this, but we have not applied this to your account yet. 

Your balance may appear to have incorrectly increased. 

Your bill amount for April may appear to have incorrectly increased 

If you are viewing your statement in your app, this will be showing incorrect information. Please ignore the statement displayed for April.

Don’t worry, any payments we have received successfully will be applied to your account as part of the fix. We will also amend any incorrect balance and bill amounts if they have been affected. We would like to assure you that your credit file will not be impacted.
I use Direct Debit, what will happen?

Please do not cancel your direct debit as we can assure you that if your account has been affected, we will only claim the correct amount. We will update your app to reflect this.
What about recent purchases?

If you tried to make a purchase since Sunday morning and it was not authorised this may be because of the available credit we are showing in your account and may be related to this technical issue. Once we have corrected your balance if it has been affected you should be able to purchase as normal, within your agreed Credit limit. We are deeply sorry for any inconvenience and concern this may have caused you.

We will inform you once this issue has been fixed. If you still have questions regarding your balance after this, please contact us at [email protected].

93

Bargepole comes to mind

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94

Looks like they have solved the problem as my payments are showing okay now.

95

Yeah, everything is correct in the app now for me too.

There are a lot of people complaining on their forum.
Pretty stressful if you thought your DD hadn’t gone through or 5x the actual bill balance was about to be taken from your account…

96

Is that still going? I occasionally go over there just to watch the absolute binfire unfurl. Which reminds me…

97

Any idea guys?

98

Probably not an issue as long as you got money

99

So, let’s say they only see current balance of £50? I would think they’d like to see some sort of income coming in, no?

100

That could potentially cause an issue if you can’t prove you’ve got a mass of savings

101

They (like any financial institute) just want to see you’re being open about financial status and that you’re not hiding the fact you are in debt. Particularly around credit cards, that you have a managed credit status. That’s all they will be doing.

I’ve supplied dormant accounts for thing such as mortgages in the past no problem, but if I had for example done this and it showed I was behind with rent, finance etc then this might have caused them to say no.

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102

I understand, but since they can only guesstimate your affordability by the bank statement you provide. I’m just wondering what the account balance threshold is to determine this.

Negative balance, overdrafts, monthly income?

103

Only they will know that but I’d imagine that if it showed you were behind on repayments, living out of an overdraft etc etc then it might mean you were a risk to them and they don’t offer an account. Or not, only they will know.

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104

And rest assured, they won’t tell you. :face_with_raised_eyebrow:

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105

Makes sense. I guess I was speaking generally. :joy:

106

Why do you want to sign up at all?
Their limits are generally lower than everyone else, the app just broke albeit briefly… The referral reward is not worth it.

1 Like