Build your credit history while you save with LOQBOX
- Choose what you want to save – from £20 to £200 a month
- Build your credit history with the credit reference agencies
- Leave with an improved credit history, plus all your savings
Finder rating: ★★★★★
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|
|Min credit limit||£250|
|Max credit limit||Not specified|
Chris Lilly is a publisher at finder.com. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.
marbles is part of NewDay, which also owns credit card companies aqua and Opus. NewDay was launched in 2001 with the aim of providing finance to customers with a poor or no credit history. As part of the Mastercard network, the marbles credit card is accepted in more than 35 million locations worldwide.
It has a more lenient application process than most credit cards and a maximum credit limit of £1,200. However, any balance that you carry from month-to-month will accrue 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.
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.
The Marbles Mastercard is issued on the Mastercard network so it's accepted at nearly 53 million merchants across more than 210 countries and territories.
Approval for any credit card will depend on your status. The APR shown represents 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 will send you a text alert if you're getting close to your credit limit. If you go over your credit limit at any time during the month you will be charged a fee. This will appear on your next statement. You will also lose any promotional rates applicable to your account at that time.
With Mastercard, your marbles credit card is accepted in over 35 million places and 600,000 cash points around the world. If you use your marbles card abroad, you'll pay a non-sterling transaction fee each time. If you withdraw cash abroad, you will also pay a cash fee. These fees will be shown on the front of your statement together with the exchange rate.
As soon as you realise that your card is missing, you should telephone marbles immediately and they will arrange for the card to be blocked and for a replacement card to be issued.
Once you have successfully made three monthly payments towards your card balance you may be eligible for a credit limit increase. However, please be aware that credit cards are not the cheapest form of borrowing over longer periods. You are in danger of increasing your debt if you do not pay off your credit card in full each month. You can decrease your credit limit at any time by calling marbles customer services.
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