Think Money Credit Card is issued by Capital One for people who have a bad credit score. The card is produced by the MasterCard network and is accepted at more than 35 million ATMs and merchants globally.
People are using Think Credit Card regularly, in some cases, every day. Many people find the card useful for purchases such as dining out, buying new clothes, booking holidays and covering the cost of everyday expenses.
Generally, credit cards are easier to carry compared to cash, which is one of the reasons they are so appealing.
They also provide a quick and simple way to pay for your goods, and you will find that they are accepted almost anywhere you wish to use Think Money Credit Card.
They can also be extremely handy in case you have an emergency, such as your car breaking down and having to get it to the nearest garage or repairs needing to be done to your property. Emergencies can pop up anywhere and usually when you least expect them.
Let’s understand how (ThinkMoney Credit Card) is different from ordinary credit or debit cards. This United Kingdom–based banking service and initially offers a current account for a salaried person only.
More also, it has no transaction or any other hidden charges. They divided customer money into two parts, one for paying utilities which are fixed and necessary to pay every month and the other is for general daily expenses which are not fixed and can vary.
What is ThinkMoney?
The ThinkMoney is an Electronic Money Institution (EMI) based in Manchester and is part of Think Money Group which was established in 2001.
The ThinkMoney offers a range of banking products, including credit cards (as mentioned above), loans and home insurance.
Its main offering is a managed bank account aimed at helping people manage their money. Its budgeting service splits customers’ money into two separate accounts.
One for fixed expenditure as mentioned above as well. The other for day-to-day spending. Anyone that is over 18 and a UK resident can open the account, as there are no credit checks during application.
As an EMI, the money you hold in your ThinkMoney Current Account is not protected under the FSCS.
Think Money Credit Card Key Features
This credit card (TninkMoney Credit Card) has the following features. These features make it one of its kind.
====> Money managers to help your budget, your account or money manager will guide you through your budget base on what you have in your account
====> No hidden charges or fees are attached to this credit card
====> Credit building account, as you keep using your account, it helps to build your account score
====> Account management app, you will be able to manage your account through the mobile app
====> No credit checks for an account, you don’t need to worry about this
====> Suitable for people with bad credit scores
====> As a user, you will access the customer care services 24/7 online contact
Think Money Current Account
After opening an account, one can apply for a loan vary from £300 to £1500 for only 6 to 12 months and can pay it back monthly. By this, you will have access to UK-based money managers that will help you to keep on top of your expenses to improve your credit score.
Meanwhile, the Think Money current account will charge £10 for single-use and £15 for Think Money joint bank accounts on monthly basis. But, they could take customers that have a CCJ, missed repayments or have or defaults on their credit history.
Rules to Avoid Getting into Debt with the ThinkMoney Credit Card
While the main focus for getting a credit card such as the Think Money Credit Card will usually be to build up your credit score. It is essential if you want to secure loans in the future and get better credit rates. It is essential that you pay careful attention to how you manage the card, don’t go mad with it!
Your credit score is made up of a range of different factors, including your credit history, or a lack of credit history. If you have a good credit score, you will be in a good position to be able to secure credit to enable you to buy a home or a new car, furnish your home or take even just take an expensive holiday abroad.
It is not easy though, it takes a long time and careful management to be able to gain benefits from your credit card. Therefore, have a good look at the rules and guidelines which you can follow to help you to manage your credit card better, and to avoid getting into debt.
====> Do not just take out cards because of the free offers. Many credit cards will offer you some good rewards but this is not a good reason to take out a card.
Of course, it can seem tempting to take out a credit card that will give you the best freebies, but if you cancel that card at some stage and move to one which offers a better rate or even more freebies for you, your credit score will be negatively affected. If you open, close or own too many credit cards, it will have a dent in your credit score.
====> Do not take out a lot of credit cards. You should especially avoid having a number of credit cards you are using simultaneously. One is enough and if you are going to be able to manage it well, it requires your full focus.
====> Try to keep the balance of your Think Money Credit Card limit as low as you possibly can. If you are going to be able to do this, you will need to ensure you don’t accept increases to your credit limit.
====> Do not be tempted to just max out the Think Money Credit Card. If you use up all the available credit, you may find that your credit score will suddenly take a drop.
You should aim to stick to using 30% of the available credit you have, especially if you want to improve your credit score.
====> Make sure the balance of your ThinkMoney Credit Card balance is completely paid off every month. This will give you the chance to quickly build up a good credit history.
It will also show future lenders that you are good with your money, and able to stick to making payments on time.
Think Money Credit Card Details
This part of the article will run through some important details of this credit card, such as in issuer of the ThinkMoney Credit Card
Issuer: Capital One
Purchase Interest-Free Period: Up to 65 days
Annual or Monthly Fee: £ 0
Minimum Credit Limit: £200
Maximum Credit Limit: This is subject to your status, about £1500
Balance Transfer Fee: 3%
Balance Transfers: 39.94%
Money Transfers: 39.94%
Cash Transfers: 39.94%
Additional variable: 3
ThinkMoney Credit Card Fees
====> Maximum APR %
====> Arrangement fee is £0
====> Late payment fees £0
====> Early repayment fees is amount to £0
ThinkMoney Credit Card Application Requirement
Once you decided to apply for this credit card, you must meet the following requirement.
====> Applicant must be 18 years and above
====> This credit card is available for existing customers
How do you Apply for a ThinkMoney Credit Card?
You will be pleased to hear that, like a lot of credit card providers. You can find out before applying if you are going to be accepted by using ThinkMoney’s QuickCheck facility without it showing on your credit file.
The Think Money Credit Card application is quick and easy to complete. You can apply online when you will have to provide some personal information such as your name, the address(s) that you have lived at for the last two years, date of birth, residential status, contact details, employment status, annual income and your bank details.
Not only salaried person with fix monthly income can get this opportunity but also Self-employed can by providing all essentials. If you are already running another current account and want to switch to Think Monkey, this option is also available.
By filling out the simple form and provide some documents you can easily switch to Think Money. Although they charge some amount to provide services, this includes all smart handling of your cash over the months with alerts and notification about each and every movement of your cash. They also provide loan services to their Golden customers with minimum markup and terms
Think Money Card Login Guide
You have completed the application process, it is time to log in to your account online. This step is very simple and easy to go about.
Step 1 ====> You need to visit the official website or click here
Step 2 ====> On the page, locate and click on the login button at the top right corner of the screen
Step 3 ====> Now click continue to login button
Step 4 ====> After that, you will be redirected to another page, where you will be able to enter your login details.
Step 5 ====> Now on the page, enter your login details (username and password) on the appropriate fields
Step 6 ====> Finally click on the login button.
Once you provided the correct login details, you should be able to access your online account.
Activate ThinkMone Credit Card
This part of the article will run through various activation processes. Have you gotten your ThinkMoney credit card, you need to activate it before you can use it.
There are three ways to activate your Think Money Credit Card, these include Online process, phone process and mobile app activation process.
Think Money Credit Card Online Activation Process
The most common means of activation your credit card is through the online process. The process is very simple and easy to go about.
Step 1 ====> You need to visit the official activation page
Step 2 ====> Now, enter the following cad details: the 16-digit card number, expiry date of the credit card, your date of birth in the right field as provided
Step 3 ====> After that, click on the continue button to proceed
Step 4 ====> Now, follow the on-screen instruction to complete the process
Activate ThinkMoney Card via Mobile app
This is an amazing way to activate your credit card. You need to download the card app on your mobile devices before you activate your card.
Step 1 ====> Download the mobile app from Google Play Store or App Store. This has to do with your mobile phone manufacturer
Step 2 ====> Now, launch the app and tap on Activate button
Step 3 ====> Then, you need to enter your credit card details correctly into the field provided on the app
Step 4 ====> Finally, tap on the activate button to activate your credit card
Activate My ThinkMoney Credit Card through Phone
Another means of this credit card activation is through phone call. You will be wondering how to get the right phone number.
The number to call is located or attached to the sticker sent with your credit card. You cannot get this card, don’t worry. Call this phone number 0800 952 5315 to activate your credit card.
Between Mondays and Fridays, you can only put a call through between the hours of 7:30 am and 9:00 pm while on Saturdays, call between the hours of 8:30 am and 5:00 pm to activate Think Money Credit Card
Think Money Commonly Asked Questions and Answers
Who is Think Money Credit?
ThinkMoney offers a credit card with up to £1500 credit limit and the ability to do a quick online application. The company also offers other financial products such as insurance and loans and is registered in the UK. Think of money is a division of Capital one PLC.
Is Think Money a Credit card?
Yes, absolutely yes. Think Money is a credit card while Think Money LTD is the credit card brokers for the Think Money Credit card. This credit card is issued by Capital One.
Will your Salary Cover your Credit Card Balance?
We (gadgetsright) need to look at this in more detail. Meanwhile, a good and reliable way to make use of your credit card (ThinkMaoney Credit Card inclusive) is to build your credit score.
You must actually use your credit card if you want to build up your credit score, but it is imperative that you pay off the balance each month when it’s due.
This will allow you to manage it in a good way that will benefit your credit score. This is all well and good if you are in a position to be able to comfortably clear the credit card bill from your salary when it becomes due on monthly basis.
If your earnings do not match your spending, this is when you can end up getting into a financial calamity. If you have a part-time job, or some seasonal work between your studies at university or college, you should carefully consider whether this is a good option for you.
If you are unemployed, you may not be earning enough money to be in a position to pay off your credit card balance each month.
What can you use the ThikMoney Card for?
It can be used to buy goods and services online, over the phone and in high street shops. It is contactless so can be used in this way for transactions up to £45 each. You can also use the card to withdraw cash at many ATMs.
How Much will your Credit Limit Be?
The credit limit varies from £200 to £1500, this depends on your status.
Why Should I Consider the Think Money Credit Card?
This is another question people asked about Think Money Credit Card. You need to understand the reason you need to consider ThinkMoney Credit Card.
Many people have a credit card these days, that it has just become the norm to own one. Many people actually hold the belief that you need one to survive in life.
Credit cards are now seen as just as essential as debit card and a good sign of your financial health. If you are trying to build up your credit score to the point where you are able to make larger purchases or secure a mortgage or loan, a credit card can be useful.
====> The ThinkMoney Card is one card which could be extremely useful to have in some situations, but you should always weigh up whether you will really need one or if your circumstances are best suited to a different option.
The Think Money Credit Card will help you build your credit. This is a fact if you manage your credit card well, you will be able to use your credit card to purchase goods and services. You can then completely pay off the balance each month when it becomes due.
====> You need a credit card to rent a car. Most car rental companies will not allow you to lease a car unless you have a credit card, especially if you are renting it for more than a few days or you are planning to rent a car overseas.
However, there are also companies that will accept a debit card, so ThinkMoney Credit Card is not essential for this purpose.
====> A credit card can be useful in an emergency. If you need funds due to an emergency situation, a credit card can come in useful.
If your car chooses to break down or you need to take care of urgent house repairs, it can give you peace of mind if you know you always have a backup.
====> Think Money Credit card gives users potential rewards. When you use a credit card, it can provide you with a lot of added advantages, including earning reward points or getting discounts on popular products or services.
This is ideal if the credit card companies are offering you rewards on things you like and tend to buy on a regular basis anyway.
What is the Interest Rate?
The interest rate is currently 39.94% APR Representative (variable). Obviously, this is a high rate of interest but it is similar to the rate charged by some other bad credit card providers
How can you Manage the Think Money Account?
One of the ways to manage your ThinkMoney Credit Card that may appeal is to use the mobile app via your smartphone or you can go online. You can also receive free text alerts.