Approval for any credit card will depend on your status. The APR shown represents 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.
Compare Tandem credit cards for January 2020
Digital challenger bank Tandem offers competitive cashback and credit builder credit cards that come with fee-free spending worldwide.
Tandem Bank currently offers just two credit cards, both targeting customers at the younger end of the age spectrum with options for limited credit histories, a competitive cashback offer, and fee-free purchases and cash withdrawals abroad.
The cards are available on the Mastercard network, meaning they are accepted in more than 35 million locations worldwide.
Tandem credit cards
What is Tandem Bank?
Tandem is a digital-only bank founded in 2013 and focused around an app. In January 2018, Tandem completed a takeover of Harrods Bank, the lender to the wealthy that was once controlled by Mohammed Al Fayed. The deal more than doubled Tandem’s customer base to 21,000 and added £80 million of capital.
The acquisition also enabled Tandem to regain its banking licence. It had lost this the previous year when Sanpower, the Chinese owners of House of Fraser, failed to deliver on a planned £35 million investment.
What types of credit card are available from Tandem?
A relative newcomer to the world of credit cards, Tandem currently offers two types of card:
Cashback credit cards reward your spending with cash (or credit on your account) at an “earn rate” defined in the card’s terms. For example, an earn rate of 1.5% would mean that if you spent £200 on your card, you would receive £3 cash back. These cards frequently come with introductory promotions (for example an enhanced cashback earn rate for the first month) but also caps on the amount of cash back you can earn (for example an earn rate of 2% with an annual maximum of £100).
Learn more about cashback credit cards
Credit builder cards
Credit builder cards are specifically designed for those who have a poor or limited credit history, but want to build up their credit score while they spend. Expect lower initial credit limits and higher rates, but usually no annual fee. These products are often used as a “stepping stone” product to cards or loans with better rates.
Learn more about credit builder credit cards
What benefits can I get with a Tandem credit card?
- Tandem App. Track your spending and cashback earnings, and make payments off your balance from anywhere at any time. This unique App also helps you to manage your money. It will automatically show you how much you can spend each month and alert you when it notices an increased bill or a payment comes in. It can also help to reduce your bills by finding you better deals to save you money.
- Global usage. The Tandem credit cards are part of the Mastercard network, meaning they are accepted at 35 million locations worldwide.
Applying for a Tandem credit card
- Filling out the online application form should take you about 10 minutes. You’ll need your home addresses in the UK for the last three years, details of your monthly income and your mobile phone number.
- Tandem will perform a credit check on you and provide you with a quick decision.
- The credit limit you are offered will depend on your credit rating and affordability.
To be eligible for a Tandem credit card, you must:
What happens if I am declined for a card?
If Tandem declines to offer you a card, it will have come to the decision based on the information you gave, along with information provided by credit reference agency Experian. You can get a copy of your credit report by visiting the Experian website. You will be able to amend any mistakes and get tips on improving your score. In six months’ time, you can apply to Tandem again to see if anything has changed. Reapplying before then could have a negative impact on your credit score.
Why have I got a higher APR than the headline rate advertised by Tandem?
The APR advertised upfront is representative of what the majority of Tandem’s customers will receive. The lender makes its decision based on the information you give, along with information provided by the credit reference agency Experian. This means you might get a higher APR based on your personal circumstances.
How long will it take to receive my card?
Once Tandem approves your application, you can expect to receive your new credit card in 3 to 7 working days.
How can I manage my Tandem credit card?
You can see real-time transactions, balance and your remaining credit limit in the Tandem App. Tandem is continuing to add more functionality over time. You will receive monthly paper bills with all your transactions from that month and details of what you will need to pay. For anything else, you can call a customer adviser 8am-8pm Monday to Friday.
Why might you not be approved?
On the whole, if you meet the eligibility requirements but have a history of bad debt or no credit history at all, you may be rejected. Equally if you are in an IVA or have had a CCJ you may not be accepted. If you have ever declared bankruptcy you are also unlikely to receive a card.
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