The Credit Thing Reviews 259

Very good application. Just need to add other languages e.g. Ukrainian.
Very good support service. They always give an answer to the right question in a timely and clear manner.
I really like using the services of this bank.

Got over 500 referrals for them for their referral scheme, not one £10 paid to me and now the refer a friend has disappeared from the app. Not happy. Doesn’t seem like a legit company. Avoid.

It’s a very good app. I am using everyday and also bank transfer is so quick. One thing is problem I can’t pay any credit card 💳 payment. Otherwise everything is perfect

Firstly, may I say that my review is not a reflection on the customer service representatives, whom I have found to be both polite and efficient. Unfortunately though, it is they who have to enforce the company's policy and it is this that leaves much to be desired. I have enjoyed using this product over the past few months and had found everything to work extremely well. However, like many others, out of the blue, I also received an e-mail stating ((not asking me whether I would agree) that my account would be transferred from a credit account to an e-money (prepaid) account, a product for which I had not originally signed up. Bizarrely, the e-mail states: "This change is not based on information from any credit reference agency, and will not be reported negatively to the credit bureau." Well, I should think not because I have always paid on time and never exceeded my credit limit, so there is absolutely no reason to do so. On contacting the support team, I received the response: "As a responsible lender and in the context of the wider economic conditions at the moment we are reassessing the way we are giving access to credit." The "responsible lender" claim needs to be called out because the company has admitted that its decision is not based on my credit file, which must mean that it is based on my account activity. Since I have always paid in full on time, never exceeded my credit limit, never purchased dubious products or invested in Crypto and as advised by the Credit Reference Agencies, not used more than 25% of my credit limit, then the only conclusion that can be made is that The Credit Thing is interested in supporting customers that do not behave as responsibly as I have, which of course does not sit comfortably with the claim of being a "responsible lender". Furthermore, I was informed: "Based on the way you use your account we have assessed that it will be unaffected by the closure of your credit." I do hope that the arrogance of this statement was unintentional. Surely, it is up to me to decide whether I want to top up in advance or use credit responsibly to budget. Furthermore, the e-money account is nothing special. With my Chase account, I receive 1% cashback, an offline card and a host of other benefits, so why would I use this basic e-money account instead? The response was: "by the way, it doesn't have any usage fee. No charges or fees are applied for transfers or cash withdrawals either. The Credit Thing app is easy to use and has a lot of helpful features such as a payment history dashboard and statements you can send right to your email via the app." Yes, my Chase account does that too as standard, as do most banks of course. The Credit Thing has the right to pursue its business model as do I have the right to reject a second class offer - well not so much of an offer but more a "fait accompli" according to the wording of the e-mail. Every cloud has a silver lining however: I requested closure and a refund of the £5 physical card fee, both of which were effected efficiently and, within an hour of using a comparison site, I was able to secure an alternative credit card with cashback and more than double the £500 credit limit that had been offered to me by The Credit Thing. I already have the virtual card working in my app. I too previously would have given this company 5-stars, but to the other customers who have, make sure that you have a contingency plan in place in case you too suddenly receive a termination of credit notice. This company is not a scam and I am not warning potential customers not to apply but to consider my experience and that of other reviewers (who are no doubt a small percentage of those affected) so that you don't suddenly find yourself without the credit that you thought you enjoyed and worse still having to pay it back quickly. Fortunately, this wasn't an issue for me but it could be for many. With a little research, like I, you may even find a better deal. I am confident that this review is fair and not based on emotion. The company cannot reasonably expect customers to be happy with its course of action and not think that subsequent honest reviews won't damage its standing and reputation but that is a business matter for them. Not sure however, how the company can legitimately market and provide a prepaid account under the name: "The Credit Thing"?
It will be interesting to see whether the company provides a response although I am confident in the integrity of my review. To the rest of you, whatever your decision going forward, I wish you all the very best.

I gave it 5 stars a while back I have since taken it back to 1, zero stars would be better, because I have been managing my account well paid on time and full and even you all added interest charges to it and now you all decided to move my account to emoney account claiming a letter as been sent but it was email. it sucks it has to be this way but I will dispute it am going to the financial ombudsman after claimant process

Awful. Avoid avoid avoid . Changed from credit account to e card , have to repay in full in 2 months otherwise they will report me to experian .

Starting to become more and more convinced that this company is a fully fledged scam.

I’ve had an account for about half a year, and every month I have made my payments on time, without an issue and generally rather easily, they do not offer a Direct Debit but they did send you reminders almost too much prior to your payment date, however last month I received a call stating I was overdue my payment..

I was confused as the payment hadn’t been due yet, so I asked them to confirm what they mean as no balance is due yet and eventually they said it was a mistake and I moved on.

From that point onwards, problems began to appear, firstly, the notifications reminding you to make your payment just stopped, completely and utterly, no email, no texts, and no in app notifications, luckily I had already remembers that I had a payment I needed to make due to the strange phone call I had received about being overdue when I hadn’t been, so the day prior to the due date, I go to the app to make the payment.. Failed ‘Please try again later’.

This error cropped up every single time I tried to make a payment using any of the in-app options, I tried for about 15 minutes then accepted this was not going to work and decided to try again in the morning.

The next morning I tried once again to make the payment and this went through fine, but I had noticed I had been charged a late fee and that my credit file had likely been affected.

I got in touch immediately to explain the situation to an extremely unhelpful and unprofessional customer service representative who essentially called me a liar saying they saw no failed payment, I explained to the representative that no payment had been attempted from my bank because I couldn’t even get past the stage of selecting the payment method but this was simply dismissed.

Following this, I raised a complaint regarding the in-app issues and in the end the company upheld the complaint and did try to resolve it with me but I made clear the issues I was had with the service so that they could investigate and resolve.

Additionally, immediately following this, I set up a regular payment in the app, not a direct debit but a regular card payment, to ensure this didn’t happen again… this was not the case.

Today I received another notification stating that my account had once again, been issued a late fee, approximately 15 minutes after midnight, I was in utter shock that this had happened again and was failing to understand how it could have even happened again as I took the necessary actions to ensure it didn’t.

To my surprise, when I loaded the app, the regular payment I had set-up had all but disappeared, and once again, the payment was not taken on time.

I have raised this with them AGAIN and will update here once I have some form of response, however, I will likely be forced to take this to the FCA as I will not risk the detrimental effects missed payments can have on your credit file, because a company cannot get their application, software and service in order.

Please just avoid this service at all costs, at least until they resolve the issues with their app, it really isn’t worth the harm it can bring to your score and credit worthiness, there are tens of alternative providers who offer the industry standard Direct Debit Guarantee, go with one of them.

UPDATE:

This company responded to my review admitting fault and liability confirming that they can see I had issues with regular payments and manual payments with the below response.

“ Hi Niall! First of all, please accept our sincere apologies regarding the issues you've faced. Indeed, we can confirm that there were such accidents related to your account and your regular payments. We are really sorry about that. Please note that if any issue related to payments (that might affect your repayment ability) is spotted - we will take measures, so it won't affect your credit score. Basically, we won't report your payment as late if you weren't able to top up vour account because of the issue. We are constantly working on improving our services and the app. You help us to get better.”

They have since edited this review to revoke all of their liability and spew out what is, for lack of a better term, complete and utter lies.

Complaint is now in progress in which I expect them to write something similar as a final resolution, I have requested my full account history, phone calls and notification logs and will be looking to file a complaint with the FCA.

It’s a shame that a corporation would stoop so low as to backtrack and lie about a consumer who is just trying to keep their account up to date using their faulty tools.

I will be checking the metadata of the information sent as I am sure it will have been mysteriously modified.

Will update when I have a further update and again, avoid this company, this stress is not worth your time!

Change from a credit agreement to an account where you have to deposit money first before use will not now be using this again having paid it in full every month update have now cancelled my account update no chance you want me to change my mind and stay when you won't charge yours you lost a good customer your loss not mine

I used the card once, and repaid before the due date (so they made no money) and the very same day decided to cancel the credit limit... I wonder if the same would have applied if I'd only repaid the minimum amount and they'd been making money...

Since writing this brief revew I've been asked to provide my account details so that Credit Thing can respond - just so you the reader know this isn't just some customer grumbling because they've had their credit limit removed, the email they sent said: "This change is not based on information from any credit reference agency" so on that basis it has to be based on my usage of the facility... so I'll let you, dear reader, decide... someone who opens an account in March, uses it once in November and then pays it back in full on the due date...

I note I am not alone in having this sudden change in heart, and one reply below from The Credit Thing says they are "not able to offer credit at the moment".. so maybe it's less of a personal issue and more to do with the Business Model of the Credit Thing.... maybe their response will shed some light on this.

Offer a £10 account incentive but refused to apply to my account. Best to avoid.

Very user-friendly app, has brilliant customer support (respond within seconds), great way to start building your credit history in the UK

If zero was a score I’d do that been led up the garden path with these guys . First they wasn’t open credit accounts for two months an now been refused when previously been accepted customer service is a absolute joke no clue!
Avoid

Really nice application and great support I’m really happy fork with them. And no cost for putting money on the card in Pay point.

Today I spoke with ILONA and she was very helpful and the response was very quick and efficient.

this is a good banking app. they have great support. The application is still very young and needs to be updated. they do it. I really look forward to the additional service "piggy bank".

** STILL WAITING NO UPDATES *** NOW OVER A MONTH NO UPDATE SUPPORT DON’T KNOW WHAT IS GOING ON Advised eligible on the 19th Sept however credit account remains at bear with us making tweaks ever since . Contacted support who though friendly were unable to advise or give an update as to when a credit limit or funds will be available. More transparency is needed with proper updates

Sent 400£ to my friend on 4th of September. Friend never received the money. Today is 27th of September and The Credit Thing still have no idea where is my money and when it will reach the recipient. Customer service have no clue about situation, all I received is an email once in 5 days saying “we working about your issue”. It’s not a bank it’s a joke!!