Bits credit builder credit card

What do people make of this?

It seems interesting though I’m slightly skeptical.

What is it?


It used to be called Fea

Edit: just spent a min reading the Terms, I like how they do a simple version above the actual legal.

Things to not do

You can use Bits pretty much any way you want, but there are some uses of Bits which are not allowed. They’re pretty obvious and pretty serious and sit very heavily in the ‘don’t be a jerk’ category.

Our ‘availability’

Look, running a technology product is tough. Shit happens. There’s a million things that can cause a website to crash or an app screen to bork. We know because this isn’t our first rodeo. So rest assured, if there’s a bug or a crash or an outage - we’ll fix it as soon as we can. In fact when we have an outage, some poor developer hears an alarm at some ungodly hour of the night - they’ll wipe the sleep from their tired eyes and get on that fix straight away. That’s a promise. But because shit happens, we can’t guarantee we’re ‘always on’. Even the biggest and best in the world means 99.99%. Nothing is perfect. Well, not until the robots anyway.

Interested I like the idea of building your credit score more so if you have a poor score I like how simple it is and easy to get stored but they not a lot of info on getting stated by the app could be explained a bit better. If you get it and let it run with out missing a payment it might help.

It’s also cheaper than Cash plus credit builder

:thinking: I wonder how much it costs them to report to the CRAs, a lot less than £5.95 a month.

I seriously need to setup one of these credit building businesses. No stock, easy service to provide nothing to do once setup, customer locked in for 12mths.

Any peeps want in?


Nice website but certainly seems like a weird concept to me.

If you’ve just come out of debt/are having debt difficulties spending £24, £48 or £96 a year that you don’t absolutely need to is probably significant.

I also can’t see any mention of CRAs on their privacy policy which is very strange.

EDIT: It’s in their terms but not privacy policy.

On the how it works page, they only mention Experian. I hope they report all three CRAs or this product really is silly.

That’s true they only mention on I nit sure if it’s worth it or not but it’s seem like a good idea if you nit able to get a credit building card them maybe this is an alternative.

Just found the original threads

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Experian is the most widely used one followed by Equifax, so I’d say it should really include at minimum both of those, but Experian is a good start

Transunion I have no idea who uses, tbh

It would be nice if they started reporting to more but as you said that one is the most widely used.

Im going to try it, and report back on how it goes. Just applied for the £8 tier.

I’m very confused by this. Is this an actual credit line, or just a ‘fake’ one where it’s reported that you’ve got a line of credit that you can’t actually access?

So, you go for the ‘top tier’ (£8 a month) and Bits tell the CRA ‘Hey - we’ve given this person £2,000 credit’ (for example) but in fact all you’re ever doing is being charged £8 by them and paying off the ‘full balance’ of £8?.

Seems…fraudulent to me to be honest…

It design for you to build credit you pay the £8 per mouth they then report that the the credit ref and then after say 12 mouths or how long you keep it up it show as a good line of credit it’s a but like cash plus credit builder they lead you money that you can not use you then pay that’s off over 12 mouth and when you finish they report.

It’s meant to show you can get some credit on you score it might help to improve it I don’t totally sure it’s nit a credit card really you cannot use it.

They is credit building cards out the also might help as long as you use them in the right away.