Frequently Asked Questions


Is KEEBO a bank?
Nope. We are an FCA-approved credit card fintech. Which means we are allowed to loan people money and charge interest rates when the right amount is not repayed within the agreed period of time.

How is KEEBO different from other credit card providers?
Everyone is unique, we think credit should be to. Unlike other credit card providers, we don't focus on our applicants' credit history. We use open banking to get a full understanding of your finances, so we’re able to offer personalised credit that's not based on assumptions, but on your actual needs. And as your needs change, your credit will too. With us, your credit will always adapt to your lifestyle 💸  Also, we're very proud to say that we are currently the only credit card company authorised by the Financial Conduct Authority (FCA) to use open banking data for credit and underwriting purposes. That's a big deal, for us, for you and for the future of banking!

What is open banking and is it legal?
Yes, it's totally legit. Simply speaking, open banking is a technolgy that allows customers to share their financial data from their bank accounts with fintech companies, like us. By using this open banking system, we get access to important information about customers’ spending behaviour. In doing so, we're able to offer accurate credit that's not based on credit scores, or discriminatorory information like post codes, but on everyone's real behaviour. It also allows us to do some funky modelling with algorithms and data science to give customers low interest rates. Pretty neat, right?

What will my banking data be used for?
We will always use your banking data to improve your life. By getting a full picture of your finances, we''ll be able to understand your relationship with it. By doing so, we'll have more accurate information when considering to offer you credit. We'll also use your data to help you make better money decisions, by providing insights about your spending, and sharing relevant content that we think matches your lifestyle and interests.

Is KEEBO safe?
Oh gosh yes, consumer protection is at the heart of our business. We’ve built in a number of safeguards and checks to make sure that any customer harm has been minimised to the fullest extent. To do so, we worked with the regulator for a solid twelve months to demonstrate the benefits of our product and technology for consumers.

How do I apply for an KEEBO credit card?
Sign up to our waitlist for now! We'll keep you updated on our launch! 🚀🚀🚀

Can I still use the app if I’m denied credit?
YES! We highly encourage you to do so. You can still use our app to better manage your money, and we'll encourage you to make more mindful decisions by offering our advice and customised insights most fit for you.

What fees do you charge / How does KEEBO make money?
Honestly, we make money like every other card issuer. However: our aim is avoid our customers falling into debt, and we count on technology to help us out with that. At the end of the day, we want to show people how when used mindfully, credit can bring a lot of life-changing benefits. But, yes, we have to make money somehow, and when we're lending out our own money, we need to protect ourselves. One thing is for sure: we'll always be as transparent as possible with our users.

These are our main sources of income:
• Merchants: We charge merchants fees to process card transactions.

• Interest fees: We allow customers to borrow money from us, in exchange for an interest fee. However, our aim is to bring these interests down to as low as possible with the help of open banking, and we've got an official grant from the government that allows us to do so.

• Late payment fees: When our customers don't pay their bill on time, we charge them with a late fee. However, we also focus on minimising these fees as much as possible, by allowing users to easily set their own repayment timings on their account, and by sending frequent reminder notifications. Also, unlike other credit card providers, when we notice users are not reacting to notifications, we don't keep increasing their debt, we suspend their card and contact them to try and figure out how we can help.

Do I need to be a UK resident to use KEEBO?
Yes you do.

How old do I need to be?
Users need to be at least 18.

Do I need to be finance-savvy to use KEEBO?
Nope — much to the contrary. We're here to make finance friendly, by sharing our knowledge in a way that everyone can understand. Our main purpose is to inspire and empower our customers to make smarter money decisions, so that they can achieve financial well-being and start creating the life they want. We're here for you every step of the way ❤️