Monzo launches metal credit card that auto-invests cashback
Monzo,the UK digital bank, has launched a £15-a-month iridescent metal credit card,which it says is the UK’s first credit card that auto-invests cashback ascustomers spend.CalledMonzo Aura, Monzo is p...
UK digital bank Monzo has introduced a new credit card called Monzo Aura, featuring a £15-a-month fee. This card is claimed to be the UK's first that automatically invests cashback earned by customers while they spend. The Monzo Aura card, launching today, aims to simplify financial management and support long-term financial planning.
Alongside its auto-investment feature, the card provides benefits from prominent brands. Customers accumulate 1% cashback on grocery purchases and 0.5% on all other expenses, with the option to invest these earnings in various Monzo investment funds or receive them directly. Additional perks include subscriptions to Apple TV and Google AI Plus, airport lounge access, and fast-track airport services.
The card's total annual value of perks is estimated at over £360. Priced at £15 per month or £180 annually, Monzo Aura comes with a credit limit of up to £15,000. Monzo's general manager for borrowing, Luke Enock, stated that Aura converts everyday shopping into future investments, catering to goals like vacations, first-home purchases, or other financial objectives, all while offering value through partner perks.
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