When you make major financial decisions, consider getting independent financial advice. service provider and read the information they can provide. 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. Having started out offering personal loans, it’s now aiming to shake-up the world of fixed-term savings accounts and credit cards.. It's always wise to check the terms of any deal before you borrow. We may also receive compensation if you click on certain links posted on our site. Depending on your personal circumstances the APR you're offered may be higher, or you may not be offered credit at all. If you are Please appreciate that there may be other options available to you than the products, providers or services covered by our service. We endeavour to ensure that the information on this site is current and In 2005 we built the first ever peer-to-peer (P2P) lending company to give people access to simpler, better-value loans and investments. with a fee of £15 per month, your representative rate is 49.8% APR (variable). with a fee of £7.99 per month, your representative rate is 37.7% APR (variable). The interest rate on this part of your balance will be 34.9%, which is the same as the standard purchases rate (chargeable from the day of the transaction – the card's usual "up to 56 days interest-free" grace period won't apply). That’s higher than most credit cards, so Zopa may be primarily targeting the “sub-prime” market – that’s applicants with limited or damaged credit histories. However, the best rates on credit cards are reserved for borrowers with clean credit histories. 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. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Ultimately this is a perfectly decent card so long as you clear your balance in full each month. offer credit facilities from a panel of lenders. Learn how we maintain accuracy on our site. Data Protection ICO registration number: Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. See insights on Zopa including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. Search our FAQs. | Read 21-40 Reviews out of 15,094 The representative APR (i.e. Unless we've said otherwise, products are in no particular order. 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 21.9% (variable) p.a., your representative rate is 21.9% APR (variable). News first broke of Zopa’s plans to launch a bank in November of 2016. 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). Zopa Ltd has 5 stars! 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. 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). Representative example: When you spend £1,200 at a purchase rate of 27.9% (variable) p.a., your representative rate is 27.9% APR (variable). To find out more about the marbles card or how to manage your existing account, just get in touch. reference number: 786446). When things don’t work as you’d expect, our aim is to put you in the picture in a clear and straightforward way – and put things right as quickly as possible. The APR shown represents the interest rate offered to most successful applicants. The table below shows our complaints data from 01/01/2020 to 30/06/2020 so you can see how many we’ve had, how many were upheld, and how quickly we responded. Having started out offering personal loans, it’s now aiming to shake-up the world of fixed-term savings accounts and credit cards. While we are independent, we may receive compensation from There's no cash advance fee on the Zopa Credit Card. He has a Master of Media Arts and Production and Bachelor of Communications in Journalism from the University of Technology Sydney. For your Zopa credit card, you can do this easily on your app.If you see something you don’t recognise, get in touch with your provider immediately to make them aware and potentially stop any further transactions going through. product or commit to any plan. Zopa is a peer-to-peer lender that has also held a full UK banking licence since June 2020. Didier Baclin, Zopa’s Chief Product Officer, said “Giving people certainty, transparency, and ultimately the power to lower the cost of credit in the future is unique in the market. If you don’t, that relatively high representative APR means that it could get expensive. may also receive compensation if you click on certain links posted on 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. 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. In 2005 we built the first ever peer-to-peer (P2P) lending company to give people access to simpler, better-value loans and investments. Zopa Ltd has 5 stars! * To make a claim on credit card repayment cover call us on: 0345 702 3839* Credit card. If you don't agree with our final response you may refer your complaint to the Financial Ombudsman Service, who can be contacted by telephone on. Have budgeted to settle in full and close down the account. Representative example: When you spend £1,200 at a purchase rate of 19.944% (variable) p.a. often incur steep fees and/or higher rates of interest. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. 0% within the EU and 2.99% in other countries. Legacy technology and poor customer service has disappointed consumers. that aims to provide you with the tools you need to make better This is subject to our terms of use. If you're interested in getting a Zopa credit card, you apply online at the Zopa site. The Zopa credit card is offered with variable rates that are tailored to the individual applicant, starting as low as 9.9%. Representative example. Contact information for Zopa Customer Services with its free or geographic phone number. These new products will sit alongside Zopa’s existing offering of personal and auto loans and investment products. 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. Since then we've helped hundreds of thousands of customers take the stress out of money by building our business on honesty, transparency and trust. 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 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 Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve. In 2020, we started a new chapter in our journey, officially launching Zopa Bank alongside our P2P business. If within eight weeks after receiving a complaint we are still not able to resolve the matter, we will send you a final response. This means it has to offer this interest rate to at least 51% of applicants. 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. Regret taking Zopa out in the first place as this all has ruined that. 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 does not charge a foreign usage fee, which will likely appeal to those who travel abroad regularly. He has previously worked as a freelance writer covering entertainment, culture and football for publications like FourFourTwo and Man of Many. By telephone. Representative example: When you spend £1,200 at a purchase rate of 14.9% (variable) p.a., your representative rate is 14.9% APR (variable). authorised and regulated by the Financial Conduct Authority (firm Savings. It currently has an “excellent” rating at TrustPilot, with an overall customers review score of 4.8 out of 5, based on more than 15,000 reviews (updated 23 December 2020). Zopa app. with a fee of £3 per month, your representative rate is 21.7% APR (variable). We show offers we can track - that's not every product on the market...yet. You are about to post a question on finder.com: At Finder, we value and respect our editorial independence. London, SE1 9RS. The company has been operating as a peer to peer lender since their entry into the market in 2005. Zopa Limited is authorised and regulated by the Financial Conduct Authority, and entered on the Financial Services Register (718925). 'Zopa' is a trademark of Zopa Bank Limited. Use it abroad, and you’ll enjoy Visa’s standard currency conversion rates – most credit cards add hefty fees on top of this. We’ll update these numbers every 6 months. Tom Stelzer is a writer for Finder specialising in personal finance, including loans and credit, as well as small business and business loans. Zopa is a peer-to-peer lender that has also held a full UK banking licence since June 2020. Today, Zopa took this initiative a step further, launching a credit card offering. The peer-to-peer lender is broadening its product range with a new credit card and savings account. The currency conversion fee – or rather the lack of one – is one of the cards best features. Our address is Level 2, 20 St 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. 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. We Fees and rates are subject to change without notice. Check out what 15,094 people have written so far, and share your own experience. During the four-year-period since then, the U.K.-based P2P lender has been slowly progressing toward becoming a fully fledged challenger bank. You'll first be prompted to check your eligibility by handing over a few basic details about yourself. Representative example: When you spend £1,200 at a purchase rate of 18.9% (variable) p.a. The minimum limit offered on this card is £200 and Zopa does not specify a maximum. Zopa has 391 employees across 2 locations, $464.50 m in total funding, and £47.58 M in annual revenue in FY 2018. 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.) Table: sorted by representative APR, promoted deals first. My Zopa account. 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