Credit cards with modern-day functionality

Financial Chat
1

I recently got a Halifax Clarity Card, mostly because the Mastercard exchange rate is usually somewhat better than the Visa one and I wanted a credit card for spending abroad.

However, it is disappointing to see their app is quite slow and clunky to use. You need several taps to get to see the pending transactions, which take days to clear and don’t offer much detail. The exchange rate is not easy to see (and not possible until it’s cleared), and what’s even worse - Halifax doesn’t pass the original currency amount to Monzo, so all I see in Monzo is the £ amount with no idea what the original was or the exchange rate used (my Nationwide card passes the original amount and that shows in Monzo too).
Topped with no spending notifications, it’s a pretty 2000s experience.

Are there any credit cards out there whose app even remotely matches what we are used to with Monzo and Starling? Spending notifications, good Open Banking connectivity, fast app, no foreign fees?

Alternatively, does anyone have any inside information (or any tweets I’ve missed) about whether Starling are actually planning a credit card this decade?

1 Like
3

I’ve never had Amex. In my previous business we started out accepting it but dropped it as there were too few cutomers using it and the fees (to us) were very high.

Is it really widely accepted in the UK and Europe?

5

Tandem was the place to be but closed 2 years ago. Tymit maybe?

1 Like
7

For 99% of my spending it’s accepted. Even the little stores that accept card tend to accept it. I actually can’t remember the last time I was declined using Amex.

I don’t use it abroad though so can’t speak for Europe. And to be fair I’m in London which possibly has a higher Amex usage.

In terms of big national retailers though they will accept Amex no issue.

3 Likes
8

Every now and then I have to use a Visa or Mastercard card because Amex isn’t accepted – most noticeably online. But that’s why I have a couple* of cards, and it’s not a problem.

Lol* to those who know me from the card design thread!

4 Likes
10

This means it’s actually pretty bad.

4 Likes
11

Ooh thanks, and I actually considered Zopa but it doesn’t link to Monzo anyway.

Why does it get rejected? Bad software on Zopa’s side?

14

Amex is my main credit card in the UK, but when it’s no accepted (I’ve found increasing number of small shops not accepting it) I used a NatWest Master Card. Both of these are good, ok apps, and instant notifications, but they charge for non-sterling purchases (I need to change my NatWest card for one that doesn’t charge).

I also have Jaja which has an ok app, instant notifications, and don’t charge for spending abroad, so it’s my main card for non-sterling purchases. They however don’t support Apple Pay, and I can’t add it to my connected accounts in Monzo.

1 Like
15

What about ‘Wave’ http://www.mywavecard.co.uk

I think they’re fairly new but the app is clear and simple, instant notifications, Apple/Google Pay and Open Banking stuff (https://developer.mywavecard.co.uk/).

The app shows pending transactions and cleared transactions with a nice bar to show how much you’ve actually used of your credit.

Couple of extra tools in the app - like a repayments calculator to show how much interest and how long it’ll take to clear your card depending on how much you want to pay each month.

Something you can’t do though (which I’ve now got used to with Monzo/Starling) - ‘turn off’ the physical card (either contactless/chip and pin or both) and only use Apple Pay (if you’re paranoid about loosing the card)

16

Keebo?

17

These look good, but they are credit builders which I tend to avoid. I have not paid credit card interest in many years, but I don’t want to support the concept of charging 40% interest to people who have had a bad spell and are already struggling for money.

But their apps look very good at least :smirk:

2 Likes
18

You don’t pay interest if you clear the balance each month (alas, credit building).

1 Like
20

Doesn’t Monzo charge 39%?

1 Like
21

There are a few new credit cards with most of these features, but where you will struggle is good open banking connectivity. Most of the new credit card providers either don’t provide open banking api or they have such a small customer base that aggregators don’t bother connecting to them.

Open banking connectivity is one of the main reasons I stick to established credit cards.

3 Likes
22

Over drafts 19/29/39%

flex is from 9% I think, not sure on the highest.

1 Like
23

Indeed, I have grown so accustomed to the concise way Monzo shows all my accounts now that ideally I would only get a credit card that shows there.

And that’s my other reason too, at £500 it may often need repayment in the middle of the month.

I think at this point I’ll just look forward to a Starling credit card (and hope it will be included in their Open Banking API).

2 Likes
24

Except that even this doesn’t solve everything. Barclaycard, for example, only pass the transaction clearing date via open banking, which is plain bonkers. For example, if you used them for a weekend away, it would all show in your aggregator as spending on the Monday :man_shrugging:

1 Like