Cardeo

As many as a million customers could be paying close to £1,000 in interest on their credit cards each year. It’s just one of the shocking figures highlighted in Cardeo’s new white paper: 'UK Credit Cards - how to fix a badly broken market': cardeo.com/white-paper

Cardeo Credit customers will be contacted separately about the closure. Please note your data remains secure and will be processed in compliance with data protection law. If you have any questions ‍please visit cardeo.com/support

The Cardeo mobile app will be shut down on 9th November 2023. If you have a repayment plan set up you will need to make alternative arrangements for making repayments to your credit cards. It will no longer be possible to make payments through the app.

In today’s @CityAM, Cardeo CEO @gavinshuker calls on the government to bring #FairerCredit to everyone by forcing credit card issuers to comply with open banking rules.

The consequences of data protectionism are dire. Yet a staggering 60 per cent of the UK credit card market, including Natwest, stops consumers shopping around and costs them millions.

Find about more about Cardeo's campaign for #FairerCredit: cardeo.com/white-paper #openbanking #openfinance #fintech #fitnechinnovation

This milestone reflects how open banking can transform the industry. But changes, including ending the data protectionism by banks, still need to be made to provide a fair system that all consumers can benefit from.

We're delighted Cardeo has been shortlisted in the Best Start-up and Best App categories in this year's Open Banking Expo Awards. It's great to be recognised for creating a fairer system that helps save consumers time, hassle and money.

@InnFin @OBE_Global @cardeoapp on the potential of open banking to deliver better financial outcomes for consumers by @CityAM cityam.com/open-banking-s… @CFIT_UK @EzechiBritton

Cardeo continues to campaign for the end of data protectionism by banks, which is preventing consumers from saving millions of pounds through new financial products.

The postcard shares three simple things that each MP can do that will help make credit fairer, save you money and put you back in control of your data. Read more about the #FairerCredit campaign and why it’s so important at: cardeo.com/fairer-credit

With the summer recess starting today, we’ve sent each MP a postcard from Cardeo. The support of the Government is vital to fixing the credit card market.

The single monthly payment is completely flexible. You can change the details, stop your payment or make extra one-off repayments at any time. At no point do you owe anything to Cardeo – we simply help you to pay back your credit cards, in whichever way you want!

All you have to do is set a target (such as an end date or a monthly amount) and choose a repayment approach. Cardeo will remind you when it’s time to make your payment, and how much to pay.

It's time to say goodbye to juggling credit cards and different payment dates. Instead, make a single payment to Cardeo each month and we’ll send it to your credit cards on your behalf.

All of these cards connect to Cardeo through open banking, allowing you to see your total balance, borrowing and spending data. We’re working on adding them to the single monthly payment too. If you’ve got any of these cards in your wallet, why not connect them to Cardeo? 💳

11 new credit cards now connect with the Cardeo app 🥳 Say hello to Argos, Burton, Debenhams, Dorothy Perkins, Evans, John Lewis, Marbles, NewPay, Opus, Tui and Wallis.

5. Force banks and credit card firms to provide certain key data electronically (a requirement already for paper statements).

3. Make the Open Banking Implementation Entity properly accountable to Parliament and ensure benefits of open banking are made fully available to consumers. 4. More proactive regulatory oversight of new open banking rules and compliance.

The @bankofengland have confirmed the 12th consecutive rise in interest rates - to 4.5%. Most credit card APRs are pegged to this rate, meaning people’s outstanding debt just got more expensive.