Legacy technology and poor customer service has disappointed consumers. Zopa will launch a credit card with interest rates as low as 9.9% The better the borrower's credit score, the lower the rate they would be charged By Helen Cahill For The Mail On Sunday While we may receive revenue and referral fees from advertising and affiliate links, advertisers do not approve our reviews. During the four-year-period since then, the U.K.-based P2P lender has been slowly progressing toward becoming a fully fledged challenger bank. often incur steep fees and/or higher rates of interest. In 2005 we built the first ever peer-to-peer (P2P) lending company to give people access to simpler, better-value loans and investments. We For the past 12 months I've been using a few other credit services (including ones which are like savings accounts) to help build credit, paying on time every time. Alternatively, you can write to us at Zopa, Complaints Team, 1st Floor, Cottons Centre, Tooley Street, London, SE1 2QG or call our Customer Services Team on 020 7580 6060 between Monday to Friday 8am - 8pm and Saturday and Sunday 9am - 5:30pm. Zopa Ltd has 5 stars! There's no cash advance fee on the Zopa Credit Card. Confirm details with the provider you're interested in before making a decision. So if you’ve struggled to get approved for credit elsewhere, Zopa will still consider your application and may be able to help. Zopa, which launched in 2005 and offers personal loans of up to £25,000 and the chance to invest in lending, through a peer to peer platform, also plans to launch a credit card later in the year, “designed to put customers in control of their borrowing”. Representative example: When you spend £1,200 at a purchase rate of 34.95% (variable) p.a., your representative rate is 34.9% APR (variable). with a fee of £3 per month, your representative rate is 21.7% APR (variable). That means that the better your credit score, the lower the rate you’re likely to be offered. The currency conversion fee – or rather the lack of one – is one of the cards best features. ‎Download apps by Zopa Ltd, including Zopa: FeelGood Money®. We are a credit broker and not a lender and finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. Zopa is a member of Cifas – the UK’s leading anti-fraud association, and we are registered with the Office of the Information Commissioner (ZA275984, Z8797078). Zopa Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, and entered on the Financial Services Register (800542). Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a., your representative rate is 19.9% APR (variable). While we are independent, we may receive compensation from Please note that we no longer sell, and have not sold, PPI since April 2008. If you wish to make a complaint about Zopa Repayment Protection Insurance (PPI) you should follow the complaints procedure outlined above. (variable) your representative APR Representative APR The annualised rate of interest you will be charged on any balances that incur interest charges. We’ll update these numbers every 6 months. Energy Switching. At Zopa, we care passionately about our customers and try to reflect that in everything we do. ISA. Our address is Level 2, 20 St Last December, Zopa said it would launch a fixed-term savings product protected by the Financial Services Compensation Scheme (FSCS), credit card and a money management app this year. unsure you should get independent advice before you apply for any If you're interested in getting a Zopa credit card, you apply online at the Zopa site. product or commit to any plan. Zopa uses the Equifax and TransUnion credit agencies to collect information on credit scores – but you can also check your Experian credit score via our Credit Club , while Clearscore offers access to your Equifax score and Credit Karma lets you check your TransUnion report. If within eight weeks after receiving a complaint we are still not able to resolve the matter, we will send you a final response. The Zopa credit card is offered with variable rates that are tailored to the individual applicant, starting as low as 9.9%. Uploading documents. Regret taking Zopa out in the first place as this all has ruined that. decisions. Remember, your personal offer may be different to this so make sure you read the details of any offer a credit card company makes you. Zopa Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, and entered on the Financial Services Register (800542). Zopa has 391 employees across 2 locations, $464.50 m in total funding, and £47.58 M in annual revenue in FY 2018. For the past 12 months I've been using a few other credit services (including ones which are like savings accounts) to help build credit, paying on time every time. Use it abroad, and you’ll enjoy Visa’s standard currency conversion rates – most credit cards add hefty fees on top of this. finder.com is a financial comparison and information service, not a bank or product provider, We cannot provide you with personal advice or recommendations, Data indicated here is updated While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. Approval for any credit card will depend on your status. In 2020, we started a new chapter in our journey, officially launching Zopa Bank alongside our P2P business. Please appreciate that there may be other options available to you than the products, providers or services covered by our service. He has previously worked as a freelance writer covering entertainment, culture and football for publications like FourFourTwo and Man of Many. It does not charge a foreign usage fee, which will likely appeal to those who travel abroad regularly. Level 2, 20 St Thomas St, The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. our site. Car finance. You can arrange a direct debit for repayments when you apply for the credit card. Check out what 14,567 people have written so far, and share your own experience. Table: sorted by representative APR, promoted deals first. | Read 81-100 Reviews out of 14,567 ZA227007. London, SE1 9RS. with a fee of £160 per annum, your representative rate is 63.9% APR (variable). The representative APR (i.e. Learn how we maintain accuracy on our site. * To make a claim on credit card repayment cover call us on: 0345 702 3839* Zopa will … However, the best rates on credit cards are reserved for borrowers with clean credit histories. Borrowing Power. Zopa is a peer-to-peer lender that has also held a full UK banking licence since June 2020. Representative example: When you spend £1,200 at a purchase rate of 24.93% (variable) p.a., your representative rate is 24.9% APR (variable). Representative example: When you spend £1,200 at a purchase rate of 19.944% (variable) p.a. The peer-to-peer lender is broadening its product range with a new credit card and savings account. Recent research by Zopa found that 17% of Brits surveyed don’t believe they have tools to manage their credit cards efficiently. Do not use their credit card! Keep an eye on your credit … The Zopa app has also received good customer reviews (updated 23 December 2020), with a rating of 4.9 out of 5 on the Apple App Store (based on 5,000 reviews), and a rating of 4.8 out of 5 on the Google Play store (based on more than 1,300 reviews). If we're unable to resolve your complaint within 3 business days we will keep you informed of our investigations until we are able to provide you with an initial response. 'Zopa' is a trademark of Zopa Bank Limited. The table below shows the options available. Attempted to withdraw cash from an ATM with my new Zopa Credit Card and the transaction was blocked for some reason and just showed as “pending” on the app. Zopa is a peer-to-peer lender that has also held a full UK banking licence since June 2020. My Zopa account. Representative example: When you spend £1,200 at a purchase rate of 34.9% (variable) p.a., your representative rate is 34.9% APR (variable). Zopa says more features are on the way, so watch this space. Having started out offering personal loans, it’s now aiming to shake-up the world of fixed-term savings accounts and credit cards.. Although it's possible, withdrawing cash from a credit card account is generally not a good idea, as "cash-like transactions" (withdrawing cash at an ATM, getting cashback at the till, spending at a casino, buying currency, etc.) We keep our reviews completely factual so you can use them to make better decisions. This step won't impact your credit score. B uilding on its 15 year lending heritage in peer to peer, Zopa will also be introducing a credit card in the coming months which will include innovative new features designed to put customers in control of their borrowing. Representative example: When you spend £1,200 at a purchase rate of 22.9% (variable) p.a., your representative rate is 22.9% APR (variable). Investments. Contact us. If you are offer credit facilities from a panel of lenders. To report your card lost or stolen call us on: 0333 220 2692* (from the UK) +44 (113) 244 9747 (from abroad) For customer enquiries or to make a payment call us on: 0333 220 2692. Representative example: When you spend £1,200 at a purchase rate of 18.9% (variable) p.a. If you don’t, that relatively high representative APR means that it could get expensive. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Representative example: When you spend £1,200 at a purchase rate of 18.9% (variable) p.a., your representative rate is 18.9% APR (variable). Photo credit: Lending Memo The financial crisis brought with it low interest rates and some of the cheapest loans, mortgages and credit cards in history. It's always wise to check the terms of any deal before you borrow. Your feedback helps us continue to deliver a first-rate service we can be proud of and helps us to focus on the stuff you really care about. Data Protection ICO registration number: Representative example: When you spend £1,200 at a purchase rate of 9.9% (variable) p.a., your representative rate is 9.9% APR (variable). We show offers we can track - that's not every product on the market...yet. When you make major financial decisions, consider getting independent financial advice. accurate but you should confirm any information with the product or In 2005 we built the first ever peer-to-peer (P2P) lending company to give people access to simpler, better-value loans and investments. daily, Metro Bank Personal Credit Card Mastercard, Nationwide Member Credit Card Balance Transfer Offer, Nationwide Member Credit Card All Rounder Offer, Virgin Money 28 Month Balance Transfer Credit Card Mastercard, Virgin Money 24 Month Balance Transfer Credit Card Mastercard, Virgin Money 20 Month All Round Credit Card Mastercard, Virgin Money Virgin Atlantic Reward Credit Card, Post Office Money® Travel Credit Card Mastercard, Virgin Money 16 Month Balance Transfer Credit Card Mastercard, Virgin Money 12 Month All Round Credit Card Mastercard, Tesco Bank Clubcard Plus Credit Card Mastercard, Virgin Money Virgin Atlantic Reward Plus Credit Card, Royal Bank of Scotland Reward Black Credit Card Mastercard, NatWest Reward Black Credit Card Mastercard, A great app and fee-free currency conversion, That steep representative APR means most applicants are likely to be offered a relatively high interest rate, Avoid currency conversion charges when spending abroad, Minimum annual income requirement of £12,000. 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