Thanks for sharing, Interesting to see what new avenues consumer lending can take after Klarna’s announcement in losses.
Tymit has a new Investor
Nationwide Select killed the cashback. Barclaycard are evil, and don’t have Google pay.
So I thought to try tymit. Fee free ATM and I like the concept of grouping things and splitting them into chunks.
Had my Tymit card for a couple of months and decided to use it. Wow, it’s confusing. I think it’s been more confusing because the numbers in the app have never been correct. Issues I’ve seen so far
- One refund shows as both the original transaction with status ‘cancelled’ and a separate refund transaction. Another refund shows as just the original transaction with status ‘cancelled’. Makes me think the one with the second transaction is hitting my account twice. It’s not apparently.
- Numbers are way wrong. They said I owed £420 when I owed £0. I asked them to check and they said I actually owed like £624.45 when I still owed £0. I sent a spreadsheet of transactions and am awaiting a response. Maybe 12 transactions on my account. If you can’t trust the numbers then not sure you can use the card.
- The remaining available balance amount always seems to be different or unrelated to the amount already spent. IE it’s not limit minus spent. No idea how this is calculated.
All that for a £1500 credit limit. Think I’ll close it once the balance issue is sorted.
My post office credit card recently transitioned to Jaja app so be interesting to see how that works.
Just got this email through. Sounds like they have a fair few things planned with their new card issuer & payment provider 
Wonder how long it will be until Google / Apple pay are on the books …
Hi xxxxx,
We have two important updates about your Tymit card.
1. We’ve just launched 36-month payment plans
Now’s the time for greater flexibility, so we’ve decided to make 36-month instalment plans available to every Tymit customer.
You don’t need to get in touch to extend your instalment plans to 36 months. Everything you need is in the app.
Remember, if you’re struggling to pay your bill, just let us know. You can speak to our customer services team to explore your options.
2. We’re changing providers to upgrade our service
We’re excited to announce new strategic providers that’ll help us improve our service and add new features.
We’ve just launched real-time payments. This means that when you make a bank transfer to pay your Tymit card using Faster Payments, the credit will now be applied in real time to your account. Make sure you use the new payment details that you can find in the Tymit app when you press the Pay bill button on the main screen.
For the past three months, we’ve been working hard to upgrade to a new issuing provider. From 23rd November, all Tymit cards will be issued by Transact Payments Ltd, replacing our previous issuer. You’ll be issued a new Tymit card, which will arrive in the post. When it arrives, please activate it by following the instructions in the Tymit app. Once you have done so, you’ll be able to use it in exactly the same way you use your Tymit Card currently. Please securely destroy your old Tymit Card after you’ve activated your new one.
We’re also switching to a new card transactions processing agent. This means that we’ll process your transactions through an upgraded technology that is faster, with enriched data and brings a wealth of new possibilities for our product. These changes come with a few immediate benefits for Tymit customers. Your Tymit card will be accepted in even more places, including at pay-at-pump and more online merchants with added security controls. This upgrade will also put us on track to launch Apple and Google Pay much sooner.
What you need to do
There are two things for you to do.
Save a copy of the new T&C’s and read them carefully. You’ll find them attached to this email or you can download them from our site here.
Look out for your new Tymit card in the post . We’ll let you know by email when we’ve posted it.
Have any questions or need to update your address details?
Get in touch by replying to this email or using the in-app chat.
Thanks,
Team Tymit
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I had this, they didn’t decide so much as the app crashed every time I tried to pick a plan. I died a little inside. By good (bad?) fortune the retailer reversed the transaction because I wanted delivery to a different address to that of my card.
Also to top it off their support form didn’t work: https://twitter.com/trinode/status/1281263063522566145
I don’t think this is the case anymore. The app got much better in the last two months, it is how very responsive and fast. Repayments are instant and there is a lot of flexibility built into how you can divide payments. You can now split them and further down the line change the number of instalments… all of this I think is relatively new functionality.
I’m hoping the new card and payment infrastructure will continue to push the product in this direction. My only niggle now is a low limit by default, though this covers a lot of purchases not sure how it would work when travelling.
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First issue with tymit, merchant retained about £500, next day this company cancel the transaction and now tymit is requesting payment despite being cancelled, talking to support since Monday. No credit card ask for pending transactions, tymit need to change this.
I didn’t have such situation with tymit yet. But I did with other credit cards.
It really depends if merchant confirm the transaction and will send reversal at some later point (like a month later); or they did cancel the transaction; or worst of all neither confirming or cancelling it, meaning it still hang on and credit card company must assume it is still a valid purchase.
I do not think is the same. I’m talking about a holding deposit, like when you rent a car, the company hold maybe £1000 but you never pay this money to your credit card.
So I got the below email 4 days ago from tymit. Explaining due to issues outside their control they’re speeding up the process of moving away from wirecard as the issuer of their cards (they’d already planned to do so following the issues earlier this year).
I’ve really liked using Tymit for a few different purchases. The app has gradually got less clunky and the recent addition of immediate recognition of when a payment is made to pay off the card is better than some other credit cards ive used. Good to see them continuing to implement what sound like necessary changes relating to wirecard but I wonder if this is also impacting other users of wirecard powered products and services?
Email below…
We’d like to update you on today’s card issues.
But before we do, here’s a little bit of context.
You might remember we got in touch recently (6th / 20th November) about some changes at Tymit.
In that email we told you we’d soon be moving to a new card issuer and processor, and that you could expect to get a new Tymit card in the post.
These changes were necessary because our original issuer, Wirecard, had been told to stop operating by the regulator.
Like many other companies, we immediately put in place a plan to move away from Wirecard.
Now, and for reasons outside our control, we’ve had to speed up that process.
And that’s why you may have experienced some issues using your Tymit card today.
We’re working hard to make the transition as quick and smooth as possible, and we really appreciate your patience during this time.
For now, we have some important updates on your card and how you can use it:
We’ve already issued you with a new virtual Tymit card.
-
You can access it in the app, it’s already active and you can use it online just like you would any other card.
We have just sent you a new physical Tymit card
-
This will replace your current Tymit card and you should receive it very soon. If you save your new virtual card number on any devices or online, these details will have to be updated with your new physical card number once it arrives.
Your current physical card won’t work anymore.
-
Please make sure to carry a back-up card until the new Tymit card arrives in a few days.
You will be receiving a new PIN
-
Once you activate your new physical card, you'll be issued with a new PIN. Make sure to jump into the app to discover what this is.
In the meantime, please let us know if you have any questions.
Thanks again for your patience,
Team Tymit
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Just go this offer by email. May be customer-specific
This Christmas enjoy 10% cashback at Amazon!
You deserve it, enjoy 10% cashback on all Amazon purchases until Boxing Day, with a maximum of £10 total credit. Make sure to use your digital card for the purchase. You can find your digital card inside the app in the card tab.
Hurry up! This promotion will last until the 29th of December so you can enjoy it until Boxing Day.
You will not see the cashback directly applied on your account, we will apply the cashback as credit on your account on the 29th of December.
Merry Christmas!
Tymit
I can’t believe that even launched without direct debit - most people think of it as an inherent feature of every credit card.
I wonder if the Pays will come more quickly, now they’ve ditched Wirecard
I just had a Tymit survey via email, 1st question asked: “How would you feel if you couldn’t use Tymit anymore?”
Doesn’t sound promising.
I quite like Tymit so hope it doesn’t go anywhere
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I wouldn’t worry about that question.
That question is literally the framework for defining if a company has Product-Market Fit or not. It isn’t meant to imply that a company is struggling.
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I’d feel: “Meh”
I mean, it’s a credit card for eff’s sake, not a ventilator.
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I use it for online purchases where I want to spread the cost over 3 months and that’s about it.
If it up end and vanished I wouldn’t be worried about it
I so find its a odd question though, it’s just a Klarna clone so for that it works OK for me.
I got the same survey and nearly had hot sweats, its such a cool Cred Card to have, its literally like one of a kind in the market with the cost spreading with no interest under 3 months!
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They are adding direct debit support.
I am part of the pilot test. It is using gocardless branded integration.
The form was fine. Now just need to wait for it to collect.
Except that the way they split balances with different terms is about as clear as mud. It would be better if they just had a “convert to loan” button on the transaction screen, then separate list of loans with the option to make overpayments and see your next loan direct debit.
Then just have a dynamic card credit limit.
As it is, splitting more than one payment gets very messy very quickly
Better late than never! I didn’t even realise you could launch a credit card without direct debits until Tymit came along!