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Curve issues first credit card

All-in-one card app Curve has launched its first ever credit card in the UK, providing users with protection against problem purchases even when using a debit card.

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Curve issues first credit card

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

Customers link their existing cards to a digital Curve Wallet, and whichever card they select in the app is then charged when they use their Curve credit card to pay.

The credit card offers users the beneits of Section 75 protection against all eligible purches, including those charged to a debit card in the app.

The new card comes with other benefits, including Curve Flex, which enables customers to split future or past purchases into monthly installments with just a tap. In the near future, Curve plans to expand Flex benefits, introducing the ability to refinance expensive credit card debt with a lower cost amortised loan.

Curve last week secured an additional £58 million in its series C round, taking the round’s total funding to over £133 million. The firm says some of the cash will be deployed to realise its ultimate aim of hosting a financial supermarket within the Curve app.

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Comments: (2)

A Finextra member 

"The credit card offers users the beneits of Section 75 protection against all eligible purches, including those charged to a debit card in the app." Is this not already included in the Visa and Mastercard rules for "services not rendered" protection? So  what additional value is Curve card offering since the UK debit cards are linked to Visa or to Mastercard?

A Finextra member 

It seems from what Curve tell me that the credit card is only available to their business customers.

While Curve claim that it is on their roadmap for customers with Curve Flex to be able to get a card, this again seems only to be business customers who will qualify.

Section 75 protection has been mentioned however why Curve believe that business customers are calling for this product and how they will manage authorised users etc. is unclear. The announcement seems to have been well in advance of finished product design and testing!

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