Monzo UK launches Aura "auto-investing" credit card

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arbitron

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Article from Which?: https://www.which.co.uk/news/articl...sting-credit-card-is-it-any-good-arUzB7L0FbU7

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The main features of Monzo's new card are:

  • 1% cashback on groceries, with no cap.
  • 0.5% on everything else, also uncapped.
  • The option to have your cashback auto-invested into a range of fee-free Monzo investments.
  • A free subscription to Apple TV.
  • Google AI Plus with two terabytes of cloud storage, which can be shared with up to five family members.
  • Access to two airport lounge passes and two airport fast-track passes each year.
  • A £15 monthly fee (£180 per year), with a three-month minimum term.
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The Apple TV, Google AI, and airport passes are pretty good benefits.

The cashback can be taken as cash or you can choose the "auto-invest" option:

According to Monzo, customers will be able to invest in a range of ETFs including the FTSE 100, S&P 500, Nasdaq, as well as exchange-traded commodities (ETCs) in gold and silver. Customers pay an investment management fee to BlackRock. This comes out of the value of the investment, so customers won’t see it as a separate charge.
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You can also choose to round up all transactions with the difference going to auto-investments. For example, if you buy something for £9.70 you will be charged £10 (£9.70 for the purchased item and £0.30 going to your investment fund).
 
Trading212 and TradeRepublic give cashback here on card purchase with no monthly fee, although the cashback is capped. I would stick with them if this option from Monzo was available here. Saying that, I keep expecting Trading 212 and Trade Republic to get rid of the cashback because they must be losing money on it.
 
Connard said:
Trading212 and TradeRepublic give cashback here on card purchase with no monthly fee, although the cashback is capped. I would stick with them if this option from Monzo was available here. Saying that, I keep expecting Trading 212 and Trade Republic to get rid of the cashback because they must be losing money on it.
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You can also add SumUp to the list of cashback debit cards available here.
 
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