Yonder Card - The rewards credit card for Londoners

Interesting concept. I’ll wait and see if they grow outside of London before I consider it though, I rarely go in to town anymore. (Thank you WFH!)

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It’s interesting that they’re definitely trying to ‘sale’ themselves as having serious backers and staff with lots of experience in the industry despite being a fairly young company.

‘Our investors have backed Klarna, Trustpilot and Spotify’
‘Our staff have years of experience previously working for Transferwise, Clearscore and Monzo’.

I threw my name into the hat to see if I could get early access (fancy metal card). When I applied I noticed they did specifically ask what city you live in - presumably if they had a lot of sign-ups for another city, they might look at what offers they could do there.

I don’t live in London, but like to visit a couple of times a year (when there’s not, you know, the plague, or threat of imminent nuclear annihilation so maybe not this year) so it’ll be interesting to see if I could save up the points to have a big weekend in the big city when I get there…

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Hello, nice to see some old faces :wave:

I’m the alumnaut (former Monzo Plus + Premium PMM). Figured I’d jump in to clarify a few of the comments above.

On credit scores / checks
The origins of Yonder were to help make credit more accessible to immigrants (like me, an Aussie, that can’t get credit anywhere). So instead of requiring a credit score, we’ll just check it if you have one. Then we use Open Banking for everyone.

On the interest rate
That is the representative rate which is inclusive of fees. It’s not the rate you’ll pay if you ever need to borrow from us.

On local rewards
Yep, London only for now. But we’re just seeing what appetite there is for rewards like this before we scale it out. You earn points when you spend, then you can redeem points for fully paid meals at cool restaurants or tickets to events.

We’re onboarding our first 150 customers and waiving fees for people who fancy testing it out. Let me know if you’re interested.

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I have just readjusted my credit card portfolio, but I’d love to try it out provided that it doesn’t turn into a second Tymit (poor credit limits, slow support, shambolic app)

Especially as I’m having to go into London now despite not being overly keen on the city.

I’ve signed up for the email list.

I’ve signed up also.

Yup, signed up now

I’ll take a look

Got an invite! :smile: rather tempted to give it a go, if only for the fancy metal card, but this would be my 5th (6th until Tymit pull their finger out) card, which feels a bit excessive? :laughing:

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I got an email too. They are quite clear they are being stricter at the moment. Which is interesting since I assumed the key point is that you can link to open banking if you don’t have a credit history.

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Yeah - I got the invite, linked it to my Monzo account, and got declined :frowning:

Oh well, I was really only doing it for the fancy card - I don’t actually need a new credit card at the moment. I may have considered a balance transfer from another card if it had worked out cheaper (although I’m not sure it would’ve done based on their APR?)

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I didn’t even get asked to link a bank. The first step was doing a credit check so I didn’t really want to go down that road at the moment.

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Didn’t they say there is no credit check? I’m still interested in the fancy card but not sure if I want a credit check…

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We do a credit check if you have a credit score.

I’m sorry but that doesn’t quite make sense… everyone will have some form of credit file, and for some people that may be very thin/empty. But you won’t know that unless and until you perform a credit search on every applicant.

The more accurate thing to say would be that you perform a credit search on every applicant (hard? soft?) but that people with no previous history of managing credit can be eligible too.

Also, credit score is a myth, something credit reference agencies use to sell people stuff. More accurate would be to refer to a history of managing credit (responsibly)

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I also got an invite today. The £15 a month membership has put me off though. I clearly missed that bit when I registered.

Is it possible to give us an idea of what the rewards are and how many points they cost?

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Appears they waive the fee for the first 6 months, though not sure if there is a minimum commitment.

Also, having more info on the places with offers would be useful. Like others, I haven’t heard of any that are mentioned above.

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I don’t think it’s mentioned on their site. Very misleading if you ask me…

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Right on their homepage.

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