Yonder Credit Card Review
| Feature | Full Yonder Member (£15/mo) | Free Membership (No commitment) |
|---|---|---|
| Card Type | Credit Card | Credit Card |
| Issuer | Yonder Bank | Yonder Bank |
| Annual Fee | £15/month | £0/month |
| Rewards | – 5 points per £1 spent | – 1 point per £1 spent |
| Introductory Offer | – 1 month free membership | – No introductory offer |
| Travel Insurance | Worldwide coverage | Worldwide coverage |
| Fees Abroad | No foreign exchange fees | No foreign exchange fees |
| Card Material | Stunning metal card (3 months minimum) | Optional premium card (£5 fee) |
| Bonus Points | £50 for 10,000 points | £50 for 10,000 points |
| Representative APR | 66.7% (variable) | 32.9% (variable) |
| Credit Limit | Based on creditworthiness | Based on creditworthiness |
Is Yonder Right for You? I am giving Yonder Credit Card Review and some benefits and drawbacks. In the UK credit cards are very popular, and there are many well-known companies that giving a good range of rewards programmes and some other features. Yonder credit card target audience is millennials and young workers, which focuses on building credit, giving travel rewards, and making the mobile experience very smooth.
Benefits of Yonder Credit Card
- No credit score needed to apply. You do not need a credit score to apply for yonder credit card. Yonder is very different from some other cards because it uses Open Banking to check your eligibility by looking at your bank records, which show how much money you make and how much you spend. This can be very helpful for some young adults or many people who are new to the UK and do not have a credit background yet.
- Rewards program focused on experiences: You can forget about airline miles or some basic cashback with this rewards programme that is all about adventures. The Yonder Credit Card rewards programme is called “Local Experiences,” and it lets you exchange points for special dining experiences, event tickets like Secret Cinema tickets, and entry to local gigs in big UK cities like London.
- Foreign transaction fee-free spending: You can also spend money without having to pay any other foreign transaction fees. You can also use your card abroad without any extra fees with a Yonder credit card.
- Putting mobile first: Yonder Credit Cardputs a lot of effort into making their mobile app for controlling your account very easy to use. And everything can be done on your phone, from keeping track of your spending and points to making payments and also getting in touch with their customer service.
- Building credit history: When you use your Yonder card very responsibly and also pay it back on time, it is reported to other credit companies.
Drawbacks of Yonder Credit Card
- Limited availability: Yonder Credit Card is only available in the UK right now, and its rewards programme is mostly based on things to do in big UK cities.
- New player on the block: Yonder is a credit card company and they are still pretty new compared to other credit card companies. This does not always mean it is not trustworthy, but for some people who like the safety of a well-known name, it can be a problem.
- The representative APR is pretty high: Representative APR (Annual Percentage Rate) for Yonder is 66.7%. This means that if you do not pay off your amount in full every month.To keep from getting into debt, you need to be very strict with how much you spend.
- Only a few customer reviews: There are not many customer reviews online yet. This can make it very hard to figure out how some people are using the card and what problems might come up when they do.
Yonder Credit Card vs Alternatives
| Feature | Yonder Credit Card | Traditional Credit Cards | Student Credit Cards | Travel Credit Cards |
|---|---|---|---|---|
| Credit Score Requirement | No | Good Credit Required | Lower Credit Score Requirement | Good Credit Required |
| Rewards Program | Local Experiences | Cashback, Airline Miles | Cashback, Introductory 0% APR | Travel Perks, Miles |
| Annual Fee | No | May Apply | No or Low Fee | Often Applies |
| Foreign Transaction Fees | None | Often Apply | None or Lower Fees May Apply | None |
Is Yonder Right for You?
Those people who are 30 years old and live in the UK and want to build their credit should apply for a Yonder credit card. It has some benefits that are related to local activities.
- It is good for: young professionals, some people who are new to the UK and do not have a credit history, and some people who like to visit cities in the UK.
- Potential downsides: The rewards program is very highly focused on some experiences in big cities, it is new (only available in the UK), and it comes with a very high APR.
Your financial goals and way of life will determine your choice. Yonder Credit Card can be a very good choice for students or young professionals on a good budget who want to build their credit background. You might want to look into some other traditional cards if you value trip rewards or already have good credit.
If you need information and to apply, visit the official Yonder Credit Card website.
And if you need information about other credit cards, visit my website