True, I guess they won’t be keen to be cutting limits either as that always gets people riled!
Maybe a “low and grow” strategy similar to Vanquis where they up the limit the more you use it.
Just a guess but anything above £5k initially is probably going to be unlikely - but then that in itself will make some people think they can’t use the card as their main card as they’re used to £10k+ from a big bank.
Jaja are starting with £500 limits for everyone during beta, will be interesting to see how that plays out too. Both companies must have had pretty hefty investment??
the problem with a low limit is then their model around moving in to payments being structured over a period of time, if I don’t have a suitable limit then I can’t make the bigger purchases that will require being paid over time.
What i find interesting about Jaja is that they also have a POS business with the first retailer being Asda, if Jaja can drive penetration across retailers then the revenue from the retailer subsidising the sales may just make the model work
It isn’t that clear cut. With Visa the rate is locked when the transaction is authorized, while with MC the rate used is the one that’s current when the transaction settles, which is about 3 days after you made the payment. That is to say that if the exchange gets worse by more than 0.1% over the ensuing 3 days, MC is actually worse
phildawson
(Sorry, I will have to escalate this.)
#48
In regards to the app being available on Android, this won’t be possible during the first beta launch that we announced plans for in our latest emails, but it is something we are working hard on.
This should become available in the next few months and we will keep you updated on its progress.
As long as they don’t do a Freetrade and take a year, I don’t mind Apple users working out the first few bugs for a few months.
If you login with the email address you signed up with, it shows you your position in the queue. How quickly that queue will actually move is another matter!
