Credit Cards like Wave UK: an Indepth Review
Wave UK is one of the most popular credit card options for people with bad or no credit history. It may be a viable option if you’re struggling to get approved for a credit card. In this article, we will discuss credit cards that are similar to Wave UK, their characteristics, advantages and choices. We will also look at how to apply, eligibility criteria and tips on responsible credit behavior.
Features and Benefits:
– Credit limit: £100-£1,000
– APR: 34.9%-44.9% variable
– No credit check
– No monthly fees
– Free credit score monitoring
– The credit line increases when you pay responsibly.
Alternatives:
This shows the details about each card:
Credit One Bank® Platinum Visa® Credit Card
– Credit limit: £300-£1,000
– APR: 34.9%-44.9% variable
– No credit check
– Free credit score monitoring
– The more you pay responsibly the higher your spending limit
– 1% cash back on all purchases
– £0 – £99 annual fee
– Reports to all three major credit bureaus
Capital One® QuicksilverOne® Cash Rewards Credit Card
– Credit limit: £300–£1,000
– APR=34.9%–44.9%
– There is no need for checking
– 1% cash back on all purchases
– £0 annual fee
– Limit increases with responsible payments
– Monitor free through the use of its website
– All info furnished by this bank is reported to the three major rating agencies.
Discover it® Secured
• Credit limit: £200 – £2,500 (security deposit required)
• APR = 24.9%-34.9%
• No credit check
• 2% cash back at gas stations and restaurants, 1% on all other purchases
•£0 annual fee
• Free score monitoring
• Reports to all three major credit bureaus.
– Security deposit refundable after 12 months of responsible payments.
LendingClub Bank Credit Card
– Credit limit: £500 – £1,500.00
– APR: 24.9%–34.9%
– No credit check
– Free credit score monitoring
– The higher you pay responsibly the more money you have to spend
– £0 annual fee
– Reports to all three major credit bureaus
– No foreign transaction fees
Petal® 2 “Cash Back, No Fees” Visa® Credit Card
– Credit limit: £500–£1,000
– APR=24.9%-34.9%
– There is no need for checking
– 1% cash back on all purchases
– £0 annual fee
– Limit increases with responsible payments
– Monitor free through the use of its website
– All info furnished by this bank is reported to the three major rating agencies.
How to Apply:
• Online application
• Instant decision
• No documents required
Eligibility Criteria:
UK resident
Age of majority (18+ years)
Valid debit card
Not in active bankruptcy
Tips for Responsible Credit Behavior:
Make on-time payments
Keep low credit utilization rates
Watch your reports closely
Avoid applying multiple times for credit cards.
Conclusion:
Credit cards similar to Wave UK are a lifeline for people with bad or no credit history. While they may possess higher interest rates, they offer an opportunity of building credit and getting better credit options in future. Thus, understanding the features, advantages, and alternatives is important in order to make the right decision and use your credit card wisely. To boost your credit score and achieve financial freedom, always remember to prioritize timely payments, low capital use as well as monitoring your credit history.
