Bits - Build Credit 4+
The best way to build credit
Fea Card Limited
-
- Free
iPhone Screenshots
Description
Bits is a credit building service which has helped thousands of people in the UK build credit for just £6/month.
The basic idea is that you get a Bits credit building subscription, and that opens up access to a whole host of member benefits. The only fee you ever pay is the monthly Bits subscription that you choose.
The full list of Bits services that open up to you once you have a Bits subscription include:
- Bits Store Card, you can shop in the Bits store (in app), where we offer a curated selection of electronics, and other consumer goods, available for purchase.
- Bits Credit Card, which lets you shop anywhere that Mastercard is accepted, with 0% APR and 0 late fees, and a foreign exchange rate that is the same as what you see on the Mastercard website
- Bits School of Credit, which has dozens of educational videos on credit building. These are not financial advice, and are general/non specific videos that you don’t pay for; they are free
- Bits Simulator, which helps you understand some general/non specific things that you should and should not do if you’re looking to build credit.
- Bits Rent Reporting, which helps you build credit by getting your rent reported (to Equifax)
- Bits Support: we are here, and will help you in any way we can!
REGULATORY STATUS
Although Bits (trading name of Fea Card Limited) is regulated as a firm by the Financial Conduct Authority (FCA), not all of our products are regulated, and you should be aware of this when you sign up. Furthermore, some of our regulated products have limitations on them, which are stated on the FCA website.
Here is the regulatory status of our products:
Bits Store Card - not regulated, as it is structured under exemptions in the Regulated Activities Order.
Bits Credit Card - The Bits Credit Card is not regulated, as it is structured under exemptions in the Regulated Activities Order. The Bits Credit Card is issued by Transact Payments Limited pursuant to licence by Mastercard International. Transact Payments Limited is authorised and regulated by the Gibraltar Financial Services Commission. Mastercard is a registered trademark and the circles design is the trademark of Mastercard International incorporated.
Bits Subscription - not regulated, as it is structured under exemptions in the Regulated Activities Order.
Score in app - regulated, using our credit information services permission, with FCA firm reference number 946683. To deliver this service, Bits is partnered with Equifax.
Rent reporting - Fea Card Limited is an agent of Plaid Financial Ltd., an authorised payment institution regulated by the Financial Conduct Authority under the Payment Services Regulations 2017 (Firm Reference Number: 804718). Plaid provides you with regulated account information services through Fea Card Limited as its agent. Specifically, this permission is used for our rent reporting service.
Bits Marketplace - regulated, using our credit broking permission, with FCA firm reference number 946683. To deliver this service, Bits is partnered with Freedom Finance Ltd, which is regulated by the Financial Conduct Authority (FCA) with firm reference number 662079 for providing credit broking services.
RISKS
Your score may go down: Using our credit building products has risks, mainly that your score could go down if you fail to pay on time.
Your score may not go up: there is no guarantee that your score will go up, although on average our customers do see a score improvement, as per our data.
GET IN TOUCH
We are a registered company in England, with Companies House number 11620703. Our company name is Fea Card Limited and registered address is 1 Hallswelle House, Hallswelle Road, London, NW11 0DH, United Kingdom.
You can get help in app any time.
What’s New
Version 10.0.2
Improvements to card management experience
Ratings and Reviews
Not very happy
I initially bought the £2 a month deal then changed my mind and got the £4 one its added two negatives to my credit score and decreased it by 28 im baffled as i havent missed a payment and this was supposed to increase it not decrease it
Update: I spoke with someone on the phone who resolved my issue and i seen a 119 increase didnt know that was possible then again a month later 37 i have no increased to the £12 a month package if you have any issues i highly recommend you contact the customer service team they are there to help and do a pretty good job at it thanks as a young person a 765 score is great and it only gets better
Misleading and useless
They advertise as a store card but you can’t spend anything in any store, negative impact on my credit score but only with Experian, other CRAs have increased my score. When I read about it I thought it would be like loqbox but you get nothing back so you are simply paying them to send a computer file to Experian. It’s a total rip off and will be closing the account as I don’t see the point in paying an organisation to damage my credit rating. I will also be submitting a complaint to the FCA for misconduct. AVOID LIKE THE PLAGUE
After receiving a response from BITS I am sure that they really need to take a look at themselves. Everything is so vague and non committal and I will be looking to get all my money back as they advertise it as a store card but you can only buy goods from their store at the prices they set once they have confirmed your ID at some point in the future. Again I will say DO NOT USE THEM
Developer Response ,
Hi there, Bits is a digital store card, and your credit limit on this store card can be spent on products in our in-app store. This is available to all our customers, once you have passed our ID verification checks! I'm sorry to hear that you were unhappy with your experience. If you haven't contacted us already to close your account, please reach out at hello@getbits.app, and we will get this done for you asap.
In terms of your score decrease, it isn't uncommon for your score to drop slightly when you first open a new credit account, whether that's with Bits or any mainstream lender. Once you start making consistent payments on time across several months, your score should increase again!
Awful
I’m really surprised by the positive reviews about Bits as I’ve only had a negative experience so far. I made a faster payment in advance as I am keen to rebuild my credit score but the payment has not been credited but bank have said it’s gone and cleared into Bits account-they just haven’t credited to me. I’ve tried calling, emailing sending countless messages through the app and got nowhere-nothing. So I had to make a double payment and used up money I needed for travel to work. They take a payment once a month or so but they still don’t have this £32 or so that I paid and they froze my credit card which is possibly going to affect my credit score and still they don’t answer me back about the money that I sent? I have ADHD and find even normal life admin so stressful as it is-all this extra stuff is just so frustrating and I don’t know why no one is helping?
Date of experience: 23 November 2024
Developer Response ,
Hi there,
We do apologise for the inconvenience caused and are sorry to hear that your experience with us was not positive. I would be happy to look into the issue personally. Please email us at marina@getbits.app providing your account details, so I can help.
Best,
Marina
Bits Customer Support
App Privacy
The developer, Fea Card Limited, indicated that the app’s privacy practices may include handling of data as described below. For more information, see the developer’s privacy policy.
Data Used to Track You
The following data may be used to track you across apps and websites owned by other companies:
- Identifiers
Data Linked to You
The following data may be collected and linked to your identity:
- Contact Info
- User Content
- Identifiers
Data Not Linked to You
The following data may be collected but it is not linked to your identity:
- Financial Info
- Usage Data
- Diagnostics
Privacy practices may vary based on, for example, the features you use or your age. Learn More
Information
- Provider
- Fea Card Limited
- Size
- 78.2 MB
- Category
- Finance
- Compatibility
-
- iPhone
- Requires iOS 15.0 or later.
- iPod touch
- Requires iOS 15.0 or later.
- Apple Vision
- Requires visionOS 1.0 or later.
- Languages
-
English
- Age Rating
- 4+
- Copyright
- © Fea Card Limited
- Price
- Free
Supports
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