ThinkMoney Credit Cards | www.thinkmoney.co.uk

Last Update: September 10th, 2016

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ThinkMoney Credit CardsThe ThinkMoney credit card was launched in June 2016. This will complement ThinkMoney’s personal account that has been a big success since it was released at www.thinkmoney.co.uk in 2002. This works like a basic bank account with a key difference being the monthly running charge of £17.50. The Group has a few projects on their roster. A familiar one that we have looked at in the past is Ocean Finance that they acquired back in 2012. This operates under Intelligent Lending Ltd. Ocean’s Card is issued by Capital One and so as you can probably guess this same partnership has been put forward here. This is not Capital One’s only affinity tag team noting Shop Direct’s Littlewoods and Very.

Just a small section on www.thinkmoney.co.uk is allocated to the ThinkMoney credit card. Here some basic information is provided such as on the limits granted (£200 to £1500) and the interest at 35.9% APR (35.94%). Before making a full application they’ll ask you to use QuickCheck on their own site. The actual application should then be redirected to Capital One’s site since the summary box does this. The styling of this MasterCard looks good matching that of the site’s theme. There is a personal account login here, but this card is treated differently and will need to be serviced at Capital One Online. There is also a mobile app available to keep track that way.

It will be interesting to see just how popular these cards can become. There are more than 100,000 customers signed on to their accounts, but we’re not sure if people who pay £17.50 monthly to manage their money will be enticed with 35.9% APR. Affinity cards like this help to raise brand awareness and generate further revenues for the issuer. It’s strange that those companies that do join partnerships like this don’t incentive their customers with loyalty based discounts for their stores or some type of voucher. Littlewoods is the current only exception to this, although they only stretch to a £10 bonus that can then be spent on their goods.

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