managing your credit card

When will my thimbl Credit Builder Credit Card arrive?

If your application is approved, you can expect your physical thimbl credit card to arrive in the post within 5-7 working days.

You could access your virtual thimbl credit card on the same day your application is approved, subject to further checks. To activate your virtual thimbl credit card, you’ll undergo an additional fraud check, which could be powered by Open Banking.*

The thimbl Credit Builder Credit Card: how it works

Wondering what to expect if you’ve been approved for a thimbl Credit Builder Credit Card? Here’s how it works.

1. Use your thimbl credit card to make a necessary, manageable purchase that you can afford to repay.
2. You’ll be sent a credit card statement each month, which will tell you the minimum repayment amount you’ll need to make.
3. If you can, you should try to make more than the minimum repayment. This will reduce the amount of interest you’ll be charged. If you clear your balance in full and on time each month, you won’t be charged interest at all.

Managing your thimbl Credit Builder Credit Card

You can manage your thimbl credit card using the highly-rated Zable mobile app, which can be downloaded for free from the App Store or Google Play.

You can use the app to:

• Check your balance and transactions.
• Receive instant spend notifications.
• Add your credit card to Apple or Google Pay.
• Check your PIN.
• Freeze or replace your credit card.
• Report a lost or stolen credit card.
• Keep track of your credit score.

Making your thimbl Credit Builder Credit Card repayments

If approved for a thimbl credit card, you’ll need to set up your monthly repayment method. You can do this by providing your debit card details before selecting your preferred payment date and amount. You’ll be sent a reminder when your payment is about to be taken. Opting for an automated payment method could make it easier to keep on top of your repayments.

You can update your debit card details, as well as your preferred repayment date, on the app.

The thimbl Credit Builder Credit Card minimum repayment

The minimum repayment on your thimbl Credit Builder Credit Card will be whichever is higher:

• £5; or
• A calculated amount, which combines any interest that’s been added since your last bill, and 2% of your balance, excluding interest.

If you have a balance on your account, you will always have to make a repayment of at least £5, although this could be higher depending on your spending.

Here’s an example:

• Your credit card has a balance of £200.
• 2% of a £200 balance is £4.
• For illustration purposes, let’s say your interest equates to £8.
• Combined, 2% of your balance and your interest amounts to £12. As this is more than the £5 minimum charge, you’ll repay £12.

How to get the best out of your thimbl Credit Builder Credit Card

A thimbl credit card could help you build your credit score.

• Make your repayments on time.
• Make more than the minimum repayment each month.
• Stay within your credit limit.
• If you want to improve your credit score, you should aim to keep your credit card utilisation as low as possible – ideally below 30% if you can.
• Ensure any other credit commitments are paid on time.
• Using your credit card to withdraw money from a cash machine is known as a cash advance and should be avoided, as this could hurt your credit score. You’ll be charged a cash advance fee for this type of transaction.
• Want to use your thimbl credit card abroad? That’s fine! Remember, the thimbl Credit Builder Credit Card can be used in most countries with no additional transaction fees.**

The thimbl Credit Builder Credit Card: additional fees

Using your thimbl credit card to make a cash advance will result in a fee of 3% of the amount withdrawn, subject to a minimum charge of £3. For example, withdrawing £10 would result in a 3% fee of 30p, which is less than the minimum charge of £3, so in this instance, you’d be charged a £3 fee, rather than 3%.

A late or missed repayment will incur a fee of £12. Please be aware that a defaulted repayment will also cause your credit score to decline.

What should I do if I can’t afford my thimbl credit card?

If you’re struggling to make the repayments on your thimbl credit card, you should contact Zable as soon as you can.

Try to avoid waiting until the repayment date has been and gone; the sooner you let your credit provider know that you’re struggling, the sooner they can help you come up with a suitable solution moving forward.

Concerned about your finances? Free, impartial money and debt management advice can be accessed through StepChange, MoneyHelper, Citizens Advice, and National Debtline.

Contact thimbl

The thimbl Credit Builder Credit Card is powered by Zable, a trading style of Lendable Ltd.

If you have any questions about the initial application or eligibility check completed on thimbl.com, you’re welcome to get in touch with our friendly Customer Care team. You can do this by filling out the contact form here. Our team are available from Monday to Friday, between the hours of 9am and 5pm.

Any queries relating to the thimbl credit card or the creditworthiness assessment should be directed to Zable via one of the following methods of contact.

For general enquiries

• Email: cards@zable.co.uk
• Telephone number: 020 3322 9128

For complaints

• Email: cardcomplaints@zable.co.uk
• Telephone number: 020 3322 9128

To report a lost or stolen card

• A lost or stolen card should be reported through the app.
• Telephone number: 020 3322 9128

Phone lines are in operation from Monday – Friday, between 9am and 6pm.

*Open Banking is a safe procedure carried out by an authorised third party, such as a credit provider. With your consent, Open Banking enables the provider to securely view recent transactions in your online bank account. Please note that you can withdraw your consent at any time.

**Certain countries excluded. Please find a full list of exempt countries here.