The idea here is not about crediting (lending money from Curve), but just about issuing a credit card instead of a debit card.
There are some situations when you can’t use your Curve card: e.g. some car-rental companies require a credit card for a deposit. Also I’ve recently had a flight with Level — and it’s not possible to pay during the flight with debit card there, you can use only credit cards.
In addition, afaik, fees on credit card transactions are a bit bigger than on debit cards
So in effect a charge card but where all debts are immediately collected. So a debit card like it is now in all but name. I see you use case scenario but I don’t think it will be worth Curve’s time and effort to implement.
I would go one step further and see if curve can have a hybrid card so it charges as credit or debit by choice on App?
Don’t know about the technicality myself though.
So a real credit card with up to 56 days interest free credit? I doubt Curve would take on that sort of liability as they are still fairly new. In addition to that credit checks would have to be implemented.
If you are referring to the above poster’s post then I don’t think it would work in anything other then name. (With Curve still collecting the money straight away which negates one of a credit cards benefits ie the credit.) As Curve will not wait up to 56 days to receive money for a transaction for obvious reasons.
I was more meaning from the perspective of some providers not accepting a “debit” card. Not the liability part as I have credit cards already underlying.
Yeah I doubt that would work as I don’t think Mastercard would allow a card saying debit to be treated as a credit card and vice versa.
Actually, bunq travel card works that way. It’s a credit card with effectively a limit of 0, you need to have a positive balance on it to be able to use it.
Personally, I don’t see the point of it but I guess they identified a market for it.
A credit card with a zero limit is not really a credit card hence the “credit” in it’s name. I am arguing semantics but it still is a valid point to make. What that is to be honest is a glorified debit card which works exactly like a Solo/Visa Electron card. (Well apart from the fact both of the above cards used the cardholders bank account balance, no weird topping up required.) Which is fine if that’s what people want to use. Should Curve do the above? Still no. Want a credit card? Then get one. Having a debit card + or a credit card - is the worst of both worlds.
Like I’ve said that’s just my 2p on the issue.
Even if Curve released a credit card I wouldn’t see the point, as what would the USP be? Pay with any card? Why would you swap a credit card transaction for a debit card transaction? Lower fx fees? We can already access that with Curve already.
Brilliant. This can take on paypal credit. You simply select curve credit or even the cash card and that’ll be your credit. Hopefully thete will be an offer ‘spend £100 or more and get 4 months interest free.’
Also it will stop declines as you could have an option that if any card fails put it onto credit to avoid decline.
Comeon curve Paypal could launch an fx free debit card and they’d blow you out of the water. They also accept AMEX.
It’s not really a credit card in the traditional sense but it’s a hybrid approach, i.e. talking some features that credit cards offer whilst not offering a credit card.
What’s of note to me is that they mentioned Klarna in the press release. To be honest it’s all well and good but I doubt it will set the world on fire. Let’s see how it goes…
It would be cool if we could apply for a Credit Card in the Curve App, and it show up alongside other cards, so you can select it and apy with your current curve card, this would be really handy as it means less cards,
However still be able to earn cashback and it have its own interface in the Curve App, where it shows your pre-set credit limit, what you have spent and what you have left, that way its like a modern Fintech credit card as your getting notifications, spending features and also extras that come with standard curve.
Would be a really cool thing to see this year! (if its not already in the works :o who knows)
Well it would just be as you usually use your curve card, however just like the Curve Cash Card there isa Curve Credit Card that works like a standard UK credit card would do?
I got an invite for beta testing curve credit. I was very excited.
On later pages curve mentioned the eligibility criteria as ’ Director who owns a company’
So couldn’t go through …
What’s Curve Credit?
This is the next big thing for us (and hopefully, you too!) Curve Credit allows you to select payments you’ve made in the Curve app and split them into instalments over 3, 6, 9 or 12 months