Yonder Card - The rewards credit card for Londoners

Financial Chat
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I just got a Yonder card,. Thought I’d make a forum post!

  • Points earning (Not sure how much £1 of a point is, but I can spend them at places I’d actually want to go in London)
  • No foreign exchange fees
  • No credit checks, they scan your bank account using Open Banking to determine if you’re eligible

A modern lifestyle credit card packed with rewards, no foreign exchange fees, and loads more. Apply without needing a UK credit score. Representative 59.3% APR variable.

Use my referral code for 3 months free + £50 in dining credit! :heart:

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Interesting concept. I like the idea of local rewards too. I actually would have imagined a Monzo credit card to be similar to this.

What kind of credit limits are they giving out, do you know?

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59% yikes

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Misread the title as ‘The key shaped card’.

Very disappointed. :-1:

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Not going to lie I genuinely did too.

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Wow the title left me a lil disappointed when I clicked on it. I too was hoping for a key shaped card :rofl:

Looked at it and meh - if you live in LoNdOn and like high APR’s well, but if you live basically anywhere …

Really wish more FinTech firms would realise there’s a whole country to explore

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The app tells me nothing about what the points will be worth or where I can use them. I worry it will have a Flux issue of mainly offering local/niche places. Amex MR are much more widely applicable.

Don’t like the idea of allowing access to my account either. I’d much rather they do a credit check instead.

The APR doesn’t bother me because no one should carry a balance on their card unless designed for that (0% APR)

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Am I blind? The only mention of fees is here:
https://help.yondercard.com/en/articles/5944736-if-i-freeze-my-card-do-i-need-to-pay-my-monthly-membership-fee

we’ll continue to charge you £15 a month on the 1st of every month.

That fee isn’t mentioned anywhere else, or am I blind?

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Doesn’t that contradict the no credit search part? If they are doing a soft check anyway.

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it also says it will leave a hard check so the no credit check is actually bull shit lol

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So this is a card for people who are desperate for a card and have a poor credit score :eyes: why else would a representative APR be so high, all I can see is they’re taking on high risk customers

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The monthly fee is accounted into this calculation. Hence Amex gold having a 60% APR.

I’ll do the math properly later, but it sounds pretty good to me. This is what I’ve been wanting to see in the credit card space for a long time now.

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Doesn’t it say you don’t need a credit score, so ultimately if you’re poor with credit history, you get one?

They probably still need to search to prove who you are etc?

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I wouldn’t have said that was an eligibility check then more anti-laundering checks. To me in the context of credit cards, an eligibility check is to check your finances.

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How do you know that? It doesn’t say where the ‘experiences’ are.

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Their strapline is:

The credit card rewarding you with London’s best experiences

and on the homepage it says:

Only available in London for now

So it does say where they are, it just doesn’t list places… unless that’s what you meant :speak_no_evil:

Perhaps they’re not listed because they’re a bit naff, dare I say it like Monzos offers thing in Plus and you only realise after you sign up.

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Not to mention they will only have featured offers every month and if you miss out on that month’s offer you have to wait another month for something else

Also, what does the highlighted bit mean?

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@bee thanks for letting us know by the way, and would be really interesting in how you found it.

I don’t think it’ll ever be for me, but I’m just one guy on the internet

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offering local/niche places

Yes, the locations are very niche but definitely on the verge of “cool niche places you can visit this month”.

Current list:

  • Crust Bros
  • Sofar (concerts etc)
  • Lina Stores
  • Kricket
  • Mr Ji
  • The Shed
  • The Water House Project

I quite like it as a young person in London who enjoys going to trendy places, they can’t grow this way in my opinion but they are only like a year old :stuck_out_tongue:

What kind of credit limits are they giving out, do you know?

Very high. Much higher than my Amex :sweat_smile:

So this is a card for people who are desperate for a card and have a poor credit score :eyes: why else would a representative APR be so high, all I can see is they’re taking on high risk customers

Amex Gold has 60% APR, and the APR doesn’t matter as I pay it off each month :slight_smile: A lot of reward cards have very high APRs. Nothing unusual here :stuck_out_tongue:

Also, what does the highlighted bit mean?

The points system is a bit weird. You can spend 1000 points at X place, and that 1000 points is “meal for 2 people” for example. You can also spend 500 points and just get a meal for 1. It’s like if Amex said “you can only redeem X points for this, and those X points will allow you at maximum to get a meal for 2 people”

really interesting in how you found it.

I am quite active in the UK FinTech scheme for obvious reasons :pray: An Alumnaut (ex-monzonaut) now works there and told me about it :slight_smile:

Something to note is that they are only a year old, and they’ve been in beta for around 1 or 2 weeks now? Imagine Monzo back in 2015/16 – super early stage, so a lot of things won’t scale or make much sense outside of their target market.

Edit they launched in beta last week.

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not much use for oldies then :smiley: