Yeah, I’m trying to think of an example where that would be useful (assuming both people need a JAJA account which already has a credit limit anyway).
It sounds like a recipe for disaster if people are needing to borrow extra money from a known person to buy something their existing credit limit won’t support…
Maybe I’m just thinking of the negatives too much!
I can think of ways it could be useful, such as a family holiday where one person is doing the bookings, but everyone is contributing. A shared kitty, if you will.
It will be interesting to see what they do with it.
The example I discussed with Jaja is a son or daughter at University. You could provide them with £200 of your credit limit. No need to give them cash and you could potentially limit the categories of spending, e.g. yes to shops, no to pubs.
That’s not the impression I got, though it could be that they have to be above a certain age. Will be interested to see exactly how it pans out, looks a very interesting feature to me.
I was thinking more that any company with the right approach could do a lot of great things to develop on the additional cardholder theme. There’s no reason in principle why a credit card can’t have many of the features of Monzo
Rich transaction information and fee-free FX are a couple of things Amex don’t do that I am looking forward to in Jaja.
I think I’d also prefer my balance to be updated instantly (like Monzo) rather than after pending transactions have cleared. Can anyone say how Jaja are approaching this?
One of a few credit card providers with an app that’s easy to use, instant notifications and features like freezing your card. Future features will include credit sharing which can be helpful for some.
No fee for foreign transactions either.