Just wondered if anyone out there has got themselves a Zopa credit card? If so, how does it stack up against the rest of the crowd? Is the App any good?
I recall the only positive of this card was the fee-free foreign spending - they use the standard Visa rate without any loading. But then when I was digging around I found my existing Virgin Money credit cards are already fee-free in Euro, Swedish Kroner and Romanian Lei. Unfortunately I donât expect to the travelling too far afield this year.
I know this is an old thread, but saves starting a new oneâŚ
Anyone have one of these CCâs? If so, what are the limits/limit increases etc like?
I have the Zopa app and money in their savings account, but despite my general financial good standing (no missed payments, homeowner, etc) , the App actually informs me I have a zero chance of obtaining one, as indeed do a variety of credit-checking websites.
Hmm on the face of it, that does seem very odd. I seem to recall reading somewhere they were in the pool of âSub-Primeâ or poor credit, credit cards, maybe that has something to do with it if you donât fit into that category?
I had one, had good limit but never used as never supported Apple Pay which is useless for me
Was that the sole reason for getting shot of it?
Financial standing seems to have very little to do with it, unfortunately. Iâm retired with a good private pension income (not old enough for state pension) and good investment/savings income but have been turned down for Monzo Flex and Paypal Credit (probably a demographic thing).
Just tried Zopaâs âBorrowing Powerâ thing in their app and it offered me a Zopa Select credit card with ÂŁ5,000 limit and 9.9% APR.
Yes mainly. APR was very low but I always pay off anyway.
Yes, I read this as well. I have a reasonably well-paid job and no CCJs/loans/debts and no links to anyone or anything dodgy. I can only assume that they will not make enough money off me. Clicking on the âcommon reasons for refusalâ it implies that you will be rejected if
** you already have a Zopa card (!)*
** you recently took out a loan with us*
** we canât see much information about you on your credit file*
** your credit score is low*
** if you have missed payments*
None of which are the case. Ironically, I do have a Monzo Flex card.
Due to no fees for spending in foreign currency Iâve been interested in getting one as a travel/non-GBP credit card. I believe it has instant notifications and instant balance updates which would be an upgrade over my current travel credit card. But lack of open banking API and lack of support for Apple/Google Pay are dealbreakers for me.
I obtained a Zopa credit card this time last year; was given a ÂŁ5k limit at 7.9% APR. It has since inched up to 10%. While the credit limit is on the low side, I have not spent a bean on the card simply because it doesnât support Apple Pay (although their CS advised itâs something theyâre working on - allegedly).
I know it can obtain Apple Pay via Curve, but that sort of defeats the object of FX-free foreign spends. CBA to fanny around in the Curve app to change currencies.
So there it sits - totally unused.
Iâve since obtained the Nat West credit card which does offer Pay and with no FX-markups. A slightly higher APR but thatâs immaterial when you PIF.
What about this makes you think youâd be an objectively attractive customer for a credit card issuer?
Nothing. I suspect this (the lack of an ability to make money) is the main reason they donât want me as a customer. Particular if their target group is the âcredit distressedâ