By: Ian Webb | Updated: 30th January, 2019.
Let's face it, when you're just starting to build or re-build credit, getting approved for a credit card can be tough. The Marbles Credit Card doesn't come with a lot of bells and whistles. And the APRs start high and can be higher for some applicants. But, it can be an opportunity to show good credit behaviour and build to other cards.Read full review >
|Representative rate||34.9% APR (variable)|
The APR applicable to your account will depend on assessment of your application.
The Marbles Credit Card may have one of the highest APR’s on the market, but if you are disciplined and motivated it could help you build your credit rating and set yourself up for better times ahead.
There are no extra benefits to the Marbles card except that it potentially allows those with a poor credit rating or no credit history access to credit, and a way to potentially build their rating. It offers a manageable credit limit and the possibility to increase that amount if you can demonstrate good borrowing behaviour.
For 15 years, I taught both primary and secondary students. One thing that always stood out to me was that we do not teach financial literacy in schools, despite the fact that students nearly always lack knowledge in this critical subject. I have always had a keen interest in personal finance, debt management and wealth creation, so I decided to make a career change and become a financial planner/educator with the aim to provide sound, independent financial education. I moved to the UK three years ago, so I know personally what it is like to begin my credit history all over again, since financial institutions don’t take into account your overseas history. My commitment to you is to give you up to date, “no BS” information that will help you decide what is best for you.
As stated before, there are some limitations to this card. A combination of a high APR, strict penalty fees if you miss payments or go over your credit limit, and the lack of introductory incentives means that this card falls behind comparable cards on the market.
The Marbles card potentially gives people a chance to build a better credit rating. The card’s very high APR’s and no additional benefits ranks it poorly with other cards of similar ilk. If you are to use this card, you must be disciplined and motivated to pay it off each month.
The institution allows you to check your eligibility first with a few standard questions. It is available to anyone over the age of 18, even if you have been turned down in the past.
First, take advantage of their eligibility check to give you an indication if you could be approved or not. If this comes back doubtful then I suggest you don’t apply, as a refusal will go against your credit rating. If you are given a positive indication, you can then decide to apply, doing so online with all the usual documents about addresses for the previous three years, date of birth, current employment and salary.
If you are just looking for a card that allows you access to credit and a chance to build your credit rating, then the Marbles card could help you achieve your goal. With very high APR’s and strict penalty fees, “success” with this card really does hinge on whether you think you can make the minimum payments and stick within the credit limit. If you’re uneasy about your ability to do that, then you may be better off without a credit-based card and only using pre-paid cards to build your credit rating.
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