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.