Yonder Unveils a Free Credit Card – The UK’s New‑Age Pay‑Per‑Spend Revolution
London‑based Yonder, backed by the likes of GoCardless’ Matt Robinson, Cred’s Kunal Shah and former footballer Rio Ferdinand, just dropped a no‑fee membership that is poised to change how youngsters juggle their finances.
What Makes it Tick
- No monthly bill – tap on your card and you’re good to go.
- Earn 1 point per £1 spend anywhere – no surprises, no foreign‑exchange fees overseas.
- Points can be spent on London & UK‑wide perks that rotate each month: food joints like Speedboat Bar, trendy cocktail spots, F45 workout classes, meal‑prep tailors such as Lions Prep, and even Turo car sharing.
Why It Matters
Since its flagship launch in 2022, Yonder’s users have racked up more than £82 million in spend, redeemed £600,000 of rewards, and saved a cool £470,000 on foreign‑exchange. In April 2023, a fresh £62.5 million infusion pushed its valuation past £70 million.
Beyond Rewards – Building Good Credit Habits
The free membership also slips in handy bill‑pay options every week or fortnight, and clever design nudges users to clear their balances in full each month. The goal? Give young folks the tools to cash a solid credit history while enjoying lifestyle perks that actually resonate with their lives.
CEO Tim Chong on the Vision
“There are almost 59 million credit cards in the UK, but most come from the same old giants. They’ve promised easy minimum payments and tucked away hidden fees for ages. It’s time for a change. Young people deserve rewards that feel relevant and support better credit habits for the future. That’s why the free membership from beta is a key step in rebuilding how the UK thinks about credit.” – Tim Chong, CEO & Co‑Founder
Next Steps
After the Series A raise, Yonder has doubled its team to 35 and is setting sights on a UK rollout later this year. The free card launch marks a bold move in a market that’s ripe for disruption.
