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In a nutshell:
Minimum credit limit
Up to 56 days
Interest-free each billing period
|Balance transfer fee||3% (min. £3)|
|Purchases interest-free period||Up to 56 days|
|Minimum credit limit||£250|
|Maximum credit limit||Subject to status: £1,200|
|Incentive||You could get a credit limit increase after three months. Choose a monthly repayment date that suits you and change it up to twice a year.|
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It has a more lenient application process than most credit cards and a maximum credit limit of £1,200, which can be reviewed and potentially raised after just 3 months of sticking to your limit and making repayments on time.
Any balance that you carry from month-to-month will incur interest at the card’s standard rate, which, not to put too fine a point on it, is high. As such, this card might be best used as a “stepping stone” product while you build your credit in order to access financial products with better terms. However, if you pay off your balance in full each month, you could avoid interest altogether – in which case, how high the rate is doesn’t really matter.
Like the vast majority of credit-builder cards, this credit card doesn’t come with any introductory offers on purchases or balance transfers, however, by using the card responsibly you will start to build a positive credit history, which could unlock better deals in the future.
Approval for any credit card will depend on your status. The representative APRs shown represent the interest rate offered to most successful applicants. Depending on your personal circumstances the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow.
You can make manual repayments through Marbles' app, by logging in to your online banking or over the phone (0333 220 2692). Alternatively, you may wish to set up a direct debit.
A direct debit protects you from forgetting to make a repayment and damaging your credit score – making it harder and more expensive to borrow money in the future – and getting hit with a penalty fee (£12) as a result.
You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.
|Minimum amount||Fixed amount||Fixed percentage||Full amount|
It’s worth using the online FastCheck eligibility checker to see if you will be accepted before you apply for a card. This process does not leave a footprint on your credit file that other lenders would be able to see, and it won’t affect your credit score. You’ll need to provide:
You will receive an instant response. If the answer is that you are likely to be accepted for a card, you can then fill out the online application form.
To be eligible for a Marbles credit card, you must:
Marbles does accept customers with a less than perfect credit history. However, if you are in an IVA, have had a CCJ or are currently bankrupt, you are unlikely to be approved for a card.
As with most credit-builder cards, the Marbles credit card can be a limited, but useful, option for those trying to boost their credit score or improve their credit rating.
While it offers no real perks, it’s more than suitable as a “stepping stone” card for those with limited credit history. Since it’s interest rates are high for any balances not paid in full each month, you might want to use a credit card like this to gain some flexibility in your finances just until your credit report improves. Hopefully, at this point, you might be able to access other products with improved terms.
After a few months of careful use, you could use an eligibility checker to see if you’re likely to get approved for a broader selection of deals.
Marbles credit cards are enabled for contactless payments of up to £100.
If Marbles is able to offer you this deal, the offer will specify a personalised credit limit based on Marbles's assessment of your situation. The minimum limit offered on the card is £250, while the maximum is £1,200. After three months of making repayments on time, Marbles can review your credit limit and may be able to offer you a credit limit increase.
Although it's possible, withdrawing cash from a credit card account is generally not a good idea, as "cash-like transactions" (such as withdrawing cash at an ATM, getting cashback at the till, spending at a casino or buying currency) often incur steep fees and/or higher rates of interest.
The cash advance fee on the Marbles Card is 5% (min. £4). For example, if you withdraw £50, you'll incur a fee of £4.00. Withdraw £250, and you'll incur a rather painful fee of £12.50.
The interest rate on this part of your balance will be 39.94%, which is 21% more than the standard purchase rate (chargeable from the day of the transaction – the card's usual "up to 56 days interest-free" grace period won't apply).
Non-sterling transactions are subject to a 2.95% charge. For example, if you spend 200 euros (£173.69), it'll cost you around £5.12 in fees.
Each month you must pay at least 1% of your balance at that point or £5.00 – whichever of the 2 figures is greater. So if you had, say, £450.00 outstanding, you'd pay £5.00, and if you had £2,000.00 outstanding, you'd pay £20.00.
Paying only the minimum required amount each month is generally not advisable as it tends to be a very expensive way to borrow money which can lead to persistent debt.
Yes. That's what's known as a "money transfer" (rather than a "balance transfer") in credit card jargon. You can arrange this from your online banking or using Marbles' app. This part of your card balance will incur interest of 32.94%. The fee for a money transfer is 3% (min. £3).
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