Bits Card

Just been sent this?

A physical Bits card?

No Section 75 on this credit card…

Please note that the Bits Credit Card is not a regulated credit product as it is structured under exemptions in the Regulated Activities Order.

I’ve had this recently as well

Is it a credit builder card thing?

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I keep getting spammed by BITs

I see they’re still falsely advertising 0% APR, which is impossible for a Credit Card which can only be obtained by paying a subscription.

But it’s still a 0% card, no? Even if they are charging a subscription for it. I don’t know the full ins and outs of cards so I don’t know the answer.

I thought we had a thread already for Bits but I might’ve dreamt that in a fever dream about low scale fintechs that won’t be around in a year.


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Purchase rate is not the same as Representative APR. The Representative APR is meant to be a representation of the cost of borrowing £1200 for 1 year, including interest, card fees and any fees for subscriptions you must have in order to remain eligible for the card.

Here’s an example of a card offered by Amex, where Amex themselves do not charge an annual fee but the card is only available if you hold a paid subscription with their partner brand Vitality. As you can see the Representative APR is increased to account for the membership fee.

Here’s another similar example from Tesco Bank, where the Representative APR is increased to reflect the cost of holding the Tesco (Stores) Clubcard Plus subscription which is a prerequisite for the account.

Bits are deliberately misleading by claiming their card carries a 0% APR when they are not using the same calculation which real credit cards do.


Thanks for the explanation and the time taken to write it out, much appreciated

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You’re most welcome :blush:

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