Tandem Bank is cementing its position as a leading digital-only credit provider, helping consumers build a healthy credit profile with the new Journey Card.

72% of Journey Card customers so far are either new to credit, reconnecting with it after years of neglect, or repairing an existing record. The card was designed to help people to build up a good credit score and a healthier life with money.

Sven Schindele, Head of Banking Products, says, “We designed the Journey Card to give more people access to the benefits of credit. People looking to start a new relationship with credit can borrow when they need to, build their credit score, and benefit from great perks travelling overseas.”

Today, Tandem Bank announces that three quarters of its Journey Card customers are building or rebuilding their lives with credit using the product. 72% of customers for Tandem’s latest card product are either entirely new to credit, re-engaging it, or had trouble in the past and were struggling to get their record back on track.

29% of these customers were either taking their first step into the world of credit or are re-engaging with credit products. To make the most out of credit cards people need access to products and a clear understanding of how they stand to benefit from responsible borrowing in the long term. Tandem’s aim is to break down financial jargon and make money management simpler. Its banking app uses instant notifications and a spending money tracker across all of a customer’s accounts to help them track whether their outgoings are within their means.

Sven Schindele, Head of Banking Products, says, “Building a healthy credit score is important and too many people are either disengaged from credit or misuse it. With the Journey Card we are allowing people to take control of their finances and build up their score by spending responsibly.”

43% of Journey Card users are re-engaging with credit after a difficult history, including defaults with other providers. The card will help these customers rebuild their scores with a responsible limit that can grow with them over time. With mortgage and loan applications contingent on a credit score people are often punished for past financial mistakes. The Journey Card means that people can build a better relationship with credit that will go on to help them achieve their ambitions.

Ricky Knox, Founder and CEO of Tandem Bank, says “Tandem is all about making your life with money easier. A big part of this is having a good credit score. It can make all the difference when you need a loan or are in the market for a mortgage, but building up your record can be tough. It’s great to hear that the Journey Card is in the hands of those who need it most.”

The Journey Card offers:

● ZERO transaction fees on any purchases abroad

● ZERO transaction fees on cash withdrawals abroad

● Up to 56 days interest free on any purchases

● 24.9% APR representative, variable

● Receive updates and communications securely via the Tandem App. (No need to worry about storing paper statements)

● Powerful in-App budgeting tools

● Stylish and colour-personalised card aesthetic

Author: Yash Hirani

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