Tandem Money Ltd – Tandem Money Ltd via Wikimedia Commons
Tandem, a fintech startup, is launching a credit card, its first product to the public.
It is also the very first digital challenger bank to offer a credit card, with other challenger banks including Starling and Monzo initially diving into current accounts.
The credit card will offer cash back of 0.5 percent and will have no fees when are being used abroad and comes with an AP of 18.9 percent. The credit card will also be connected to the Tandem app, through which users can be able to manage multiple accounts and track their spending.
The credit card has earlier only been available to some limited early customers of Tandem who are known as co-founders, and the fintech company plans to launch a savings accounts in the future.
Sven Schindele, the senior product manager of Tandem, stated: “With the help of our co-founders we have built a product that caters to the needs of the people and are on target to make our customers’ lives richer.
“We took a close look at the lifestyle, values and spending behaviours of our customers and produced a card that helps you earn as you spend, spend abroad without worry, and borrow as it suits you. We hope our customers find the card a helpful companion in all situations in life at home and abroad.”
Recently, Tandem regained its banking licence after acquiring Harrods Bank.