Having bad credit history, no matter the reason, can really have a big impact on your finances. In fact, there are some situations where you still need to pay more because you don't have a good credit history. For example, did you know that the phone company Three charge you £5 a month more if you don't pay your bill via Direct Debit? If you can't get access to a bank account because of bad credit history then this could cause you added expenses along the way.
Even just getting a bank account when you have had credit history can be really difficult and you will be pleased to know that you can get yourself a no credit check bank account with Think Money. This basic bank account gives you somewhere to get your wages paid into, as well as letting you make use of services such as cash machines, Direct Debits and standing orders.
Peace of mind with the thinkmoney Current Account
The best feature of the thinkmoney Current Account is the personalised service that they offer. Your account is actually two accounts – one where your salary is paid into and then another ‘card account' for your day to day spending.
You will have a Money Manager who will make sure that there is money in your account to cover your regular financial commitments (the ones you have told them about!) before transferring the rest into your ‘card account'.
This means that you know how much you can spend without impacting your financial commitments.
A thinkmoney Current Account gives you a helping hand to get you budgeting better and back on your feet financially.
Track your spending
Let's be real here for a moment. If you are looking for a bank account with no credit check then there is a chance that you have run into some financial difficulty in the past.
I hear you!
In fact, we found ourselves with £15,000 of credit card debt that we paid off a few years ago.
The key to getting out of debt and getting your finances into order is to learn to budget and track your spending.
The thinkmoney Current Account has a great app that helps you to track your spending. Using it will show you where your money is going every month, and help you to make positive changes to your spending.
How much does a thinkmoney Current Account cost?
A thinkmoney Current Account costs £17.50 per month, or £24.50 per month for a joint account – such as an account with a partner.
How to get a thinkmoney Current Account
In order to get a thinkmoney Current Account you will need to be a UK resident ages 18 years or older.
You can apply online, and with no credit check needed, you will get access to your account very quickly.