Yonder “free membership” credit card review
- Representative example:
- When you spend £1,200 at a purchase rate of 32.9% (variable) p.a., your representative rate is 32.9% APR (variable).
- Foreign transaction charge
- 0%
- Account fee
- £0
- Earn rate
- 1 point per £1 spent
Our verdict
Fancy a credit card that can help you to earn rewards, build a credit history and spend fee-free abroad? The "free membership" credit card from Yonder could be just what you’re looking for.
Following in the footsteps of its big sister, the Yonder "free membership" credit card offers similar (but more limited) benefits, without the £15 monthly fee.
Whenever you spend on your credit card, you earn reward points, with bonus points available at Yonder’s favourite spots in London and online. However, the big drawback is that these points can currently only be redeemed on experiences (such as restaurants or gigs) in London. That means it’s of little benefit if you live miles away and have no plans to visit the Big Smoke any time soon.
That said, Yonder plans to expand into other UK cities in the near future. Plus, there are other perks, including no foreign exchange fees when using your card overseas and the opportunity to build your credit score. To determine your eligibility, Yonder uses Open Banking to check your income and expenses and get a clearer idea of your finances, rather than relying on your credit score.
It also reports your credit card repayments to the 3 main credit reference agencies (Experian, Equifax and TransUnion). If you make your payments on time, your credit rating could increase. But if you miss repayments, this could have a negative impact on your credit score.
Pros
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Accepted everywhere Mastercard is
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Earn reward points whenever you spend on the card
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No monthly or annual fees
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No fees for using your card overseas
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Uses open banking rather than traditional credit checks to see if you’re eligible
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Monitor your spending through the app
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Reward points have no expiry date
Cons
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High annual purchase rate
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Rewards can currently only be redeemed in London (but it plans to expand and select retailers offer online experiences which can be redeemed anywhere)
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Not all banks have integrated with Yapily, the open banking provider used by Yonder, so this might lengthen the application process
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Physical card costs £5
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Cash withdrawals are limited to £150 per day and £600 a week
Details
Product Overview
| Issuer | Transact Payments |
| Network | Mastercard |
| Annual/monthly fees | £0 |
| Purchases | 32.9% |
| Cash advances | 0% |
| Maximum credit limit | Subject to status |
| Potential costs | 8.3Great |
| Doing its job | 8.8Great |
| Extras | 8.1Great |
| Overall Finder Score | 8.9Great |
What are the fees and charges for the Yonder card?
| Annual/monthly fees | £0 |
| Foreign usage charge (EU) | 0% |
| Foreign usage charge (rest of world) | 0% |
| Cash advance fee | 0% |
| Late payment fee | No late payment fees |
What are the application requirements for the Yonder card?
| Minimum Age | 18 |
| Residency | London, Manchester, Bath and Bristol resident |
| Additional Criteria | You don't need a UK credit score to apply, but Yonder will run a soft check if you have a credit report and let you know if you're eligible before you processed with your application. If you're self-employed, the minimum income requirement is £35,000 per year. If you are unemployed or have an annual income below £25,000, you must have savings of at least £50,000 to be eligible. |
The Yonder 'No Fee' Credit Card is issued on the Mastercard network, so it's accepted at more than 50 million merchant locations across more than 210 countries and territories.
Approval for any credit card depends on your status. The representative APRs shown represent the interest rate offered to most successful applicants. Depending on your personal circumstances, the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow. Most of the data in Finder's comparison tables is provided by Moneyfacts.
What is Yonder?
Yonder was founded in 2021 by former Clearscore employees Tim Chong, Theso Jivajirajah and Harry Jell. The company’s aim is to help more people get access to credit, including expats and immigrants. Rather than relying on credit scores to determine your eligibility, Yonder looks at your banking data to give it a clearer picture.
When you apply for the card, Yonder runs an initial soft credit check that won’t hurt your credit score before using Yapily’s open banking to assess your spending data. It then provides you with an appropriate credit limit based on this information.
Key features of the Yonder “free membership” credit card
- Earn rewards. You’ll earn 1 point for every £1 spent and up to 5 points for every £1 spent with experience partners.
- Redeem points on experiences. You can redeem your points at Yonder-picked restaurants, bars, fitness classes and gigs. Yonder covers everything up to a fair use limit, and an extra transaction is added for anything over this. For example, if the fair use limit was £50 and you spent £60, there would be an additional transaction for £10 on your account.
- 0% foreign transaction fees. There are no fees for spending or withdrawing cash on your credit card overseas.
- Intuitive app. Use the app to manage your repayments, freeze and replace your card and receive instant payment notifications. The app is available on iOS and Android.
- Share your points. You can also send points to your friends, which they can use on a selected experience.
- Build your credit score. Provided you make your repayments on time and don’t exceed your credit limit, you should see an improvement in your credit score. This can help you get access to other forms of credit (such as a loan or mortgage) in the future.
- No monthly or annual fee. You won’t need to pay a monthly or annual fee with this card.
What benefits can I get with a Yonder “free membership” credit card?
Aside from the lack of fees for spending abroad and the no annual account fee, Yonder offers a host of benefits for its members (if you meet the spending criteria and repay your card back on time).
Earning rewards
Whenever you spend on your Yonder credit card, you’ll earn 1 point for every £1 spent. This increases to up to 5 points for every £1 spent with Yonder’s experience partners.
Redeeming rewards
Points can be redeemed at Yonder-selected experiences, such as restaurants, tickets to events and fitness classes. However, currently, these are only based around London. Yonder does now offer online experiences which can be redeemed anywhere.
Points can be redeemed within the app, and there’s no expiry date, so you don’t need to have used them by a set time.
What is the difference between the memberships?
The Yonder “full membership” credit card charges a £15 monthly fee and, in return, offers a greater range of benefits. These are outlined below:
| Yonder – Free membership | Yonder – Full membership | |
|---|---|---|
| Price | Free | 1 month for £0, £15 per month thereafter |
| Points per £1 spent | 1 points per £1 spent | 5 points per £1 spent |
| Points per £1 spent on experiences | Up to 5 | Up to 25 |
| Welcome bonus points | 0 | 10,000 |
| Experiences per month | 10+ | 25+ |
| Worldwide family travel insurance included | No | Yes |
| No foreign exchange fees | Yes | Yes |
| Physical card | Plastic card, £5 | Metal card |
| Credit limit | Up to £10,000 | Up to £10,000 |
How much does the Yonder credit card cost?
The Yonder “free membership” credit card has no monthly or annual fee. However, if you don’t pay off your balance in full each month, you’ll be charged interest.
There are no late payment fees, but keep in mind that missing payments can hurt your credit score.
Repayments
Your credit card bill is generated on the 1st of each month. It includes all cleared transactions you’ve made from the previous month between the 1st and last date of the month. You need to pay your bill by the 15th of the month.
You can make manual payments through the app, or you can set up autopay, which gives you the flexibility to pay weekly, fortnightly or monthly.
Who is eligible for the Yonder credit card?
To be eligible for a Yonder credit card, you need to be at least 18 years old and a UK resident.
You might not be offered a card if, in the last 2 years, you’ve either:
- Missed at least 1 payment on another lending product
- Missed a payment or more on at least 1 account on your credit report
- Been on a debt management plan
- Had a county court judgment (CCJ)
How to apply for a Yonder credit card
To apply, follow the steps below:
- Download the Yonder app from either the App Store or Google Play Store.
- Verify your email address and phone number and provide a few personal details.
- Connect your bank accounts so Yonder can give you a suitable credit limit.
- Yonder carries out a quick ID check to confirm your identity.
- Choose your plan and add a digital card to your phone, and you’ll be up and running.
Yonder customer reviews
Yonder scores highly on customer review site Trustpilot. It has a score of 4.7 out of 5 from more than 550 reviews (updated March 2024), giving it an “excellent” rating.
Positive reviews mention the “great customer support”, 0% fees on spending abroad and great experiences. However, other reviewers said they had problems with the application process.
On the App Store, Yonder scores 4.8 out of 5 from 314 reviews (updated March 2024).
The Yonder “free membership” credit card could help anyone with a limited credit history build a credit score. This, in turn, could increase their chances of getting accepted for more credit in the future.
Because of this, the Yonder credit card could be particularly attractive to those who have recently moved to the UK. Plus, if you’re travelling to other countries or visiting family back home, there are no fees for using your card overseas.
However, if you want to take advantage of the rewards on offer, you need to either live in London or be prepared to travel there frequently – at least until Yonder expands into other UK cities. ”
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