Keebo Discussion

Financial Chat Fintech Chat
1

Just stumbled across this brand new credit startup, wondering what you guys think at first glance?

edit;
removed referral link to promote discussion

2

By “stumbled across” do you mean “work for”?

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3

:joy: busted

4

I wish I worked for them! I’m just a lowly teen interested in FinTech ahaha

5

Perhaps you could tell us what you think about Keebo? You don’t say anything about it in the original post, so it looks like it’s just an excuse to post your referral link (which is a bit of a no-no).

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I removed the referral link so I don’t look like a sellout lol.

From looking at the website one thing of note seems to be the use of OpenBanking (Similar to CreditKudos?) to evaluate risk and stuff. Not sure how I personally feel about allowing access to my account information as they can already just check Experian or whatever. I wonder if they’ll require ongoing OpenBanking information so they can continuously evaluate risk, that would make it even less attractive to me.

Their main feature seems to be their levels? (is that what it’s called?) Where they give you “targets” or “goals” to complete before they move you to the next level which might increase limit or APR I guess?

Edit: typo
Edit 2: re-written for clarity

7

Is KEEBO safe?

Oh gosh yes

I like them already :grin:

Nice idea but I couldn’t see any mention of interest rate range or how much the late fee would be

Nice card as well

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8

I’ve looked at it twice now and I still don’t really understand why they are trying to do.

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9

Use open banking info to offer a more personal credit card (well, the limit and apr) which can build credit

That’s my take on it

10

I scrolled through the website and the cartoon-y line drawing people seem very, very familiar, I just can’t quite recall which website/service used very similar graphics. Or maybe it’s just the way things are these days, with everyone going for the same aesthetic.

Another issue I have is the ‘personalised credit’ marketing BS. Every single credit card offers personalised credit. There’s no provider that I know of who say “yes, everyone will get £100000 limit at 5% APR or whatever”

My biggest bugbear is their list of ‘partners’. I want to be able to click on their partners and see what the partnership actually means. I don’t trust websites that don’t let me do that. It’s all cool putting a blurry gov.uk logo on, but what’s the partnership? They have a page on Companies House (one would hope so), or do all civil servants get a Keebo card these days?

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11

That colour scheme, pass

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Personally using open banking to show how you actually use your money isn’t a bad thing, and I guess that’s where their term “personalised” comes from. Adaptable sounds like a fancy way of saying they can increase or decrease your limit as time goes on, which is normal.

I’m super curious about their Gov.uk partnership… civil service still use GPC cards for the most part.

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Found the cartoony drawing…
You can look up Denmark Storytale and it’s the first result. So, you’ve almost certainly seen it somewhere! Through the reverse search it came up with at least a dozen websites the images are used on

14

Is it the 1950s again? Gosh, how did that happen?

15

Just received my invitation to apply for this, have to link a bank account via open banking, then conduct a hard search - not going for this stage due to hard search, much rather a soft check to see if I’m eligible first.

Then states need to keep the open banking access live to keep the account open which I’m not willing to do - though I understand why.

Clean functional app though, just a shame it’s hard search.

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16

Doesnt the link auto expire?

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It said somewhere to keep the account you must have a bank account linked.

I may have misread but I think from next year any open banking link is indefinite.

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18

Ah. I mean I wouldnt use them if they want a permo link. Simply because:

Screenshot 2021-12-24 at 13.58.02
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The sole purpose of GDPR is about holding data thats accurate when there is a reason to hold it. I can’t see any reason why they need to hold a permo link to your accounts. Regardless. Companies have been fine without it so why start now. I dont mind for the initial application but not for the whole term.

There just going to start penalising you for any little thing really.

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Spies. :joy:

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Its not about spies its about data abuse aswell. Imagine getting an email from them “We think you should pay your Credit Card bill because there is enough in your Current Account” or "Theres been a breach and Vladmir from god knows where has all your transaction history. Nah thanks :slight_smile:

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