Providing tailored products and services for over-50s for more than 60 years, Saga has become one of the most trusted brands among its target market in that time.
One of its most successful ventures in recent years has been the subscription-only Saga magazine, which is mailed to more than 350,000 subscribers every month. Saga has recently entered the financial products market, with offerings apart from credit cards including equity release, savings, loans and wealth management.
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Key features of the Saga credit card
Saga offers just a single credit card, which is provided by the Bank of Ireland. The card is an “all-rounder” – so it’s useful for a variety of requirements rather than being solely focused on a single function.
0% foreign currency fees on transactions worldwide
If you enjoy travelling and spending money abroad, this feature lets you use your card to pay for non-sterling goods and services and you’ll benefit from a 0% foreign currency conversion fee on these transactions.
Learn more about cards designed for overseas spending
0% on purchases
Cards with an introductory 0% on purchases feature allow you to spread the cost of an upcoming purchase (or purchases). The 0% rate won’t last forever, remember, so you’ll want to aim to clear the balance before the 0% period ends and a significantly higher rate kicks in.
Learn more about 0% purchase cards
0% on balance transfers
If you have an outstanding balance with another card issuer, that could be charging you a painful amount of interest, it needn’t stop you from switching to a new credit card. A 0% on balance transfers feature lets you bring your outstanding balance over to the new card and enjoy a 0% interest period. Aim to clear the balance before the end of this period, when a higher rate will kick in.
Learn more about 0% balance transfer cards
What benefits can I expect from a SAGA credit card?
- Extra security for online purchases. Saga’s credit card uses the Verified by Visa system, which asks users to set up an extra layer of security, a kind of ‘belt and braces’ approach which means that, even if your PIN is discovered by thieves, it’s more difficult for them to use the card online.
- Online account management. You can keep track of all your card spending, even when you use the Saga credit card overseas, and pay your card bill wherever you are.
- Discounts on Saga cruise ships and holidays. You can get a 5% discount on things you buy on-board when you’re on a Saga cruise, while many of Saga’s resorts also offer cardholders similar, exclusive savings. These vary between resorts, so check when you book.
- Fraud text alerts. A text-only phone number will send an SMS to your mobile if the card issuer notices any activity on your card which it thinks might be suspicious.
Applying for a Saga credit card
It’s quick, easy and secure to apply for a Saga credit card online, and the process takes about 15 minutes.
To qualify for the Saga credit card, you need to:
- Be aged 50 or over.
- Hold a UK bank account.
- Have a permanent UK address (including the Channel Islands and Isle of Man).
- Have a regular income of over £12,000 a year.
You should ensure that you can meet the monthly repayments, as missed payments incur a charge and could have severe consequences on your ability to obtain future credit.
Why might your application not be approved?
If you meet the broad criteria outlined above, but have a history of bad debt or no credit history, you could be rejected. Also, if you have been made the subject of a CCJ you may not be accepted, and you are unlikely to be given a card if you have ever declared bankruptcy.