So the flurry of booster customers who have no idea what they have signed up for seems to have slowed. Are Tymit doing a better job of setting expectations or have they slowed the rate of Booster onboarding?
A lot of this likely falls down to the recent surveys and discussions around Booster and ensuring people understand the product thoroughly.
You can all thank yourselves for helping to build a better product
No, not doing a better job at onboarding booster.
I applied for Booster but got Credit, which I never applied for, and have no use for.
I applied for Booster about 2-3 weeks ago, they asked me for bank statements, sent a few, finally they sent the card.
And they gave me Credit, not Booster. In the app, I saw no Booster but only Credit.
I reported the error, for a week the support guy told me (in several emails) that:
- yes, I applied for Booster but they gave me Credit (?!?)
- and Credit is better for me
- that I don’t need Booster but I need Credit
Yes, they know better than me what I need.
Finally, they cancelled my account.
@cgeorgescu Hi Christian, I’m not sure why you would prefer Booster product to a normal Tymit credit card?
Why I would prefer Booster over Credit:
- because I kinda’ I have money, I don’t need a credit card for any credit/loan
- I only need a credit card for those situations when I must present a credit card. No matter how much money I have on my debit card, for the guarantee, the car rental company only accepts a credit card. At the end of the rental, I can pay using any debit card, even cash, but the guarantee must be on a credit card. Same goes for most hotels and airlines
- Tymit Credit comes with a very low credit limit (£1k in my case) so, in practice, it’s useless. It would take me years to raise its credit limit to £5-10k
- but, with Tymit Booster, I can transfer £10k to that deposit and have a credit card with a £10k limit the same day
So you would prefer to pay £9.95 a month for a credit building card when you have no need whatsoever to improve your credit rating?
Did you not realise booster was for (boosting your credit score)?
This is why you have been given the regular Tymit card because your credit score is perfectly fine.
It’s beyond me why you would prefer to pay a monthly fee to hold a card just in case you need it, then complain when given a card with no fee to have.
The use case you mentioned above is not what booster was designed for, it’s for customers with a poor credit score trying to improve their financial situation.
It is NOT for customers with plenty of spare cash looking to set there own credit limit to 5k or 10k just because they fancy it.
I’m afraid you’ve either been misinformed or not fully read the purpose of Tymit booster properly before submitting your application.
It’s not for the purpose you want it for and that’s why you’ve not been offered it, simple as.
You are a unique customer in that sense, unfortunately booster is designed as a credit building product, which is why you were offered a regular card as Tymit don’t think your credit is bad enough to offer you the booster product.
Maybe you need to see what other credit card companies might offer if it’s a larger limit you want for the valid occasions when it is better to use a credit card as opposed to a debit card.
Yes, I prefer paying 9.95 per month for a Booster card because that’s the only way to get a card with the limit I need, get it fast, without waiting for years.
“This is why you have been given the regular Tymit card because your credit score is perfectly fine.”
But the Tymit website for Booster, and T&C, says “with any credit score”, not “only for guys who have very low credit score”. The credit score doesn’t count for Booster, it only counts when you apply for Credit.
(I didn’t applied for Credit)
“It’s beyond me why you would prefer to pay a monthly fee to hold a card just in case you need it, then complain when given a card with no fee to have.”
Well, it’s beyond me why people would buy an expensive phone or TV using a credit card, then pay 20% interest on top.
In my case:
- I have no use for a free credit card if the limit is 1k
- if paying 9.95 per month is the only way to have a useful (for me) credit card, I’m more than happy to pay (and also, 9.95 is peanuts)
- I absolutely need such card at least once per month. If I’d have it, I’d use it as my main card, so about 10 times per day
“It’s not for the purpose you want it for and that’s why you’ve not been offered it, simple as.”
No legal T&C on Tymit’s website mentions this, so it’s completely my business how I use a Booster card as long as I don’t so something illegal. And, of course, as long as I pay 9.95 per month.
“It is NOT for customers with plenty of spare cash”
Booster is not limited to specific customers, the T&C doesn’t mention any clause like this.
“Tymit don’t think your credit is bad enough”
Sorry, I don’t get it:
- if you need a bad credit score to get Booster, why doesn’t it say so on that page? The page says “with any credit score”, not “with bad credit score”
- Tymit gave me Credit with a limit of only 1k when the upper limit is 15k, which means that I need to improve my credit score
About checking other banks…
I don’t see how this is relevant here: I applied for a specific product of Tymit, I qualify for that product, Tymit didn’t provided me the product I applied for, but silently offered me a completely different product.
(how I know I qualify for Booster? Because all requirements of Booster are included in the application for Credit as well, they gave me Credit so I passed all the checks for Booster)
I would actually read “no matter your score” and even “any score” to mean “even if it’s not good” rather than “whatever your score high or low you can get this product.”
At the end of the day, you didn’t get the product you wanted and they may not want to give it to you. Perhaps it comes down to semantics but from experience, whenever a company suggests anything about low scores, any score, they aren’t trying to get people who could achieve what for most people is a better product. Appreciate this doesn’t do what you wish to do but Tymit must focus on the 99.9999% of customers who just need the product most suited to them based on risk.
@jase and everybody
1st of all, you only assume I have a good credit score, but you don’t know for a fact.
You only assume I don’t need to improve my credit score.
Given the fact that no other bank issued me any credit card, I infer that my score is not that good.
Then anyway, no matter somebody’s score, if it’s not perfect, it’s worth improving. If you’re looking for a mortgage, you need a super-good credit score.
“I would actually read”
Websites and Terms & Conditions documents of banks and financial services companies aren’t places for ambiguities. If it says “no matter your score”, then it means exactly that.
“but Tymit must focus on the 99.9999% of customers who just need the product most suited to them based on risk”
Based on risk alone, Tymit would focus on Booster customers because, unlike Credit, Booster means absolutely zero risk for Tymit, nor for the customer.
The terms and conditions do not state ambiguity about the score though, so I don’t see how that is valid. I was clearly referring to the information on the website ahead of any application.
I’ve not once mentioned anything about your score at all, I’ve not assumed you have a good score. I simply said, Tymit’s risk assessment meant they offered you a product you didn’t want.
I don’t know where you expect things to go from here Cristian, but it feels like there is unlikely to be a provider that’s going to suit what you want and offer you what you want.
From here, I expect Tymit to provide me the Booster card.