Sometimes, our users ask us if they are able to use their credit cards to invest on our platform. Our sophisticated payments provider, MangoPay, is able to facilitate payment via three methods: debit card; bankwire transfer; and credit card. Our investors are free to use whichever method they like, however we would like to clarify our stance on using credit cards with us.
We always do our best to discourage the use of interest-bearing products such as credit cards for a number of reasons. First, as an ethical investment platform, we take pride in offering competitive investment products that are entirely free from debt or leverage. As a result, we wish to dissuade users from risking going into debt when investing with us, since we feel that is our primary responsibility to avoid it on behalf of our users in the first place.
Second, as a number of cases have shown, credit card companies do their utmost to make as much money from their customers as possible, which can mean hidden charges and unclear payment terms. Even the most careful of credit card customers can be caught out by terms and conditions that can be deliberately ambiguous.
Third, topping up a user e-wallet with a credit card is treated by MangoPay as a ‘cash advance’ or ‘cash transaction’ by your credit card company. This means that they will charge an added fee on top of interest charges, depending on factors such as your credit score and payment timeline. It’s important to consider that this will effectively eat into your return when you invest with us, as it can effectively be seen as an extra ‘fee’ for investing with us.
Here at Yielders, we are committed to providing investment opportunities with you in mind. This means carefully seeking out assets with sustainable upside, without debt or leverage ever. Conservative projections and transparency surrounding our fees and costs are central to our operation: for this reason, we will always advocate for the usage of a debit card transaction or a bankwire transfer to top up your e-wallet. For instructions on how to do this, feel free to check out our ‘Help Centre’ here: http://help.yielders.co.uk/en.
As always, we are here to answer any further questions our users might have. Please feel free to get in touch with us via the chat function on the website, or through firstname.lastname@example.org.