By: Ian Webb | Updated: 25th January, 2019.
It can be tough to find a great card offer when you're building or re-building your credit. The Tandem Journey Credit Card may be worth a look, as it offers more than most. For starters, the APR on the Journey card is very attractive compared to the competition. There's no annual fee on the card, and, even better, you'll pay no extra fees on foreign spending if you travel. And, of course, responsible use of the card could lead to improvements in your credit score.Read full review >
|Annual purchase rate (variable)||24.9%|
|Representative APR (variable)||24.9%|
|Based on an assumed credit limit of||£1,200|
You may be offered a different credit limit or APR to that shown here as it depends on your individual circumstances. Subject to eligibility and credit assessment.
The Tandem Journey Credit card could be a great card to get you started and help build your credit rating, especially if you have limited credit history (first time credit card user) or just moved to this country (I’ve personally experienced the joy of this process!). This card has a very competitive APR, can be used at home and abroad with no additional fees, and has access to an app aimed at helping manage your credit card and bills. All of which could help you save money and demonstrate good borrowing behaviour.
It seems to me that Tandem realizes that we all have to start our credit journey somewhere and so they may be willing to give users with poor or no credit history a chance to build their credit rating. Let’s take a look at what Tandem has to offer.
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.
The Tandem Journey card is a card aimed at people with limited or no credit history. It doesn’t offer any balance transfer or other introductory offers and there are strict penalties if you miss your minimum repayments.
The Tandem Journey Card is designed as a credit builder/rebuilder card for those with a tarnished credit history or no credit history at all. So don’t bother comparing this card to cards aimed at people with good credit records. However, when you put this Tandem card up against similar cards, it stands up quite nicely. The representative APR is among the lowest in this segment of the market and like most competitors there’s no annual fee to pay here. If you travel, this card could be an especially good choice, as the card doesn’t charge any fees on non-sterling transactions. That’s a benefit that you don’t often see on top-notch cards, let alone ones in this category.
If you are a customer with limited credit history, don’t despair. Tandem may still give you a chance. You may be charged a higher interest rate and only given a relatively low credit limit, but it’s a start. Once you prove yourself a worthy credit risk and get a better credit rating, you can ask for a higher limit and/or a lower interest rate, or pay it off and seek a better deal somewhere else with your newfound credit rating.
To start your Tandem journey (pun intended), you apply online which takes about ten minutes. You’ll need your home addresses for the last three years, details of your monthly income and your mobile phone number. Tandem will conduct a credit history check through the agency Experian to assess your suitability and what credit limit and interest rate should apply.
The Tandem Journey Credit card could be a good way for those with limited credit history to get started. For those approved, the Tandem card gives users a chance to build their credit scores and potentially move to a lower rate card such as the Tandem Cashback Card. If you are a person just starting their credit journey, I think the Tandem Journey Card is worth a look.
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