Today, Tandem Bank launch a new credit card allowing customers to spend freely abroad while building a healthy credit score
The ‘Journey Card’ marks the fourth product launch in just ten months for the ambitious challenger bank, with more on the way
Ricky Knox, CEO of Tandem, says, “The team at Tandem have been working tirelessly to deliver a multitude of credit, savings and tech products to our customers. With the Journey Card people can continue their spending abroad while benefiting from zero fees. The integration of credit products into our app is a game-changer for the industry. Our competitors have launched some great pre-loaded and debit cards, but we will own credit in this space”
Tandem Bank, the UK’s leading digital bank, announce the launch of a second credit product, the Journey Card, available through application via the Tandem website.
Tandem Bank obtained its banking licence in January 2018 and launched shortly after with their Cashback Credit Card and three market-leading Fixed Saver accounts, along with an advanced app that aggregates bank accounts to give users full visibility and insight into their finances. Tandem is now adding its second competitive credit card offering to its product suite, this time to a market that Tandem believe is underserved.
The Journey Card is a way for those who haven’t had credit before to build up a strong credit profile. When paid on time, and without going over their credit limit, customers can use the Journey Card to achieve better financial health. Increasingly people are realising the importance of credit scores for building a better future, be that helping them to get car loans, mortgages and better credit rates in the long-term.
One of the worst things about travelling abroad is constantly having to worry about being stung with fees when you get home, but from today, customers signing up to the Journey Card can make purchases overseas without incurring fees and will receive real time in-app updates as they spend, leaving out the nasty surprises. Following the success of the Cashback Card, it’s clear that Tandem’s customer base loves to travel and the Journey Card offers the same great overseas features plus the advantage of a smooth application even if you are new to credit.
The Journey Card offers:
● ZERO transaction fees on any purchases
● ZERO transaction fees on cash withdrawals
● 56 days interest free on any money spent
● 24.9% APR representative, variable
● Receive all updates and communication via the App (forget documents being lost or exposed account information)
● Powerful in-App budgeting tools
● Stylish and colour-personalised card aesthetic
The launch of the Journey Card goes hand in hand with Tandem’s banking app. The new card is fully integrated with their suite of credit specific app features: the app can leverage the data from customer’s aggregated accounts to contextualise what they are spending on their Journey Card. This way customers can not only see how much they have spent, but also the amount of money that they have in the bank account that is used to pay their card off. The app can also calculate a user’s available spending money based on their regular outgoings and bills. This comes together to make a package that helps customers spend and borrow responsibly.
Ricky Knox, Tandem CEO, adds, “2018 continues to be a transformative year for Tandem. Our customer numbers are growing and so is our suite of products. We set out to solve real people’s problems with money and with every new product we are in a stronger position to do just that. Credit cards are valuable tools and we’re helping people get the most out of them.”
As consumers say goodbye to summer holidays and welcome weekend city escapes, the Journey Card is the perfect companion. Customers don’t need to spend their savings or precious annual leave when responsibly spending on the Journey Card.
Sven Schindele, Head of Banking Products at Tandem, says, “We are thrilled to be launching our second credit card. At Tandem we are all about financial freedom and that comes from building a healthy credit score and getting the best from the money you have. We hope this card is your trusty companion for your next adventure.”