Bits Store and Bits Card Terms & Conditions
1 What these terms are
1.1 These terms are the legal agreement between you and Fea Card Limited (Bits/we/us), and you agree to them by signing up to the Bits app. Please read these carefully to understand their contents, as they set out the legal rights and obligations between you and us.
1.2 The service we provide currently has 2 functions: our main monthly service and the Bits Store. Further functions may be added in the future – we will let you know if and when we add these. The first part of these terms apply to all of our services, but there are some terms which are specific to each different service we provide, and those are set out at the end of this document.
1.3 English law applies to this agreement, and whilst we hope you will always be happy with the service we provide, any disputes you may have with us would be settled by English courts. Each section of these terms operates separately – if any court or relevant authority decides that any of them are unlawful, the remaining paragraphs will remain in full force and effect.
1.4 We may transfer our rights and obligations under this agreement to another organisation. We will always try to tell you in writing before this happens and we will ensure that the transfer will not affect your rights under the contract. You may not transfer your rights or your obligations under this agreement to another person.
2 How to contact us
2.1 If you have any questions about these terms or concerns about your account, your question might be covered in the FAQ section on our website.
2.2 If you want to ask us directly, or if you have any complaints, please contact us at firstname.lastname@example.org.
3 How we contact you
3.1 If we have to contact you, we will do so either by writing to you at the email address you provided us with, or calling you on the phone number you gave us. By giving us your email address and/or phone number, you are happy for us to contact you by these methods. You are responsible for keeping your contact details up-to-date.
3.2 We may need to contact you from time to time in circumstances where it is important to know when you have received our notice. This will be when we send the email to the up-to-date email address you have given us or when we speak to you.
4 Signing up to Bits
4.1 In order to sign up to Bits, you need to be at least 18 years old, and live in the United Kingdom.
4.2 Before you sign up, we strongly recommend that you check to make sure that you can afford this service for at least three years.
4.3 We may reject your application to sign up if you have:
4.3.1 unpaid bills;
4.3.2 recent court judgments against you;
4.3.3 been subject to individual voluntary agreements, debt management plans, or other equivalent arrangements within the past six months; or
4.3.4 are currently subject to bankruptcy, debt relief, or other equivalent arrangements.
4.4 We may also reject your application if we otherwise determine that you are not in a position to regularly pay your monthly Bits fee.
4.5 We also reserve the right to reject your application if we have other concerns regarding your application, which aren’t about your ability to pay. These can include (but are not limited to) where:
4.5.1 we have reason to suspect that the application contains stolen personal data or is otherwise fraudulent;
4.5.2 we have reason to believe you are a high-risk individual, such as a politically exposed person; or
4.5.3 you have previously abused our staff over emails or phone calls.
4.6 In order to sign up to Bits, you will need to provide us with some personal information, such as your name, contact details (including your phone number, email, and address), date of birth, and payment details. However, in some instances we may need to ask for additional information about you or for you to send us copy documents proving your identity and/or your address, such as a passport or a recent utility bill respectively.
4.7 As part of the signup process, you may be asked to make certain choices, such as your repayment date for the core service (please see section 20 below).
5 Summary of your key legal rights
5.1 This is a summary of your key legal rights. These are subject to certain exceptions. For detailed information please visit the Citizens Advice website or call them at 03454 04 05 06.
5.2 The Consumer Rights Act 2015 says digital content (such as an app) must be as described, fit for purpose and of satisfactory quality.
5.3 If your digital content is faulty, you're entitled to a repair or a replacement.
5.4 If the fault can't be fixed, or if it hasn't been fixed within a reasonable time and without significant inconvenience, you can get some or all of your money back.
5.5 If you can show the fault has damaged your device and we haven't used reasonable care and skill, you may be entitled to a repair or compensation.
6 Credit Reference Agency Information Notice (CRAIN)
6.1 In order to process your application, we will perform credit and identity checks on you with one or more credit reference agencies (CRAs): Experian, Equifax, and/or TransUnion. To do this, we will supply your personal information to CRAs and they will give us information about you.
6.2 Information we give CRAs will include information from your credit application and about your financial situation and financial history. CRAs will supply us with both public information and information on your shared credit, financial situation and financial history, as well as fraud prevention information.
6.3 We will use this information to:
6.3.1 assess your creditworthiness and whether you can afford to take the product;
6.3.2 check that the data you provided to us is correct;
6.3.3 prevent criminal activity, fraud and money laundering;
6.3.4 manage your account(s);
6.3.5 trace and recover any debts; and
6.3.6 ensure any offers provided to you are appropriate to your circumstances.
6.4 We will continue to exchange information about you with CRAs while you have a relationship with us. We will also inform the CRAs about your settled accounts. If you borrow from Bits and do not repay in full and on time, CRAs will record the outstanding debt. This information may be supplied to other organisations by CRAs.
6.5 When CRAs receive a search from us they will place a search footprint on your credit file that may be seen by other lenders.
6.6 The identities of the CRAs, their role also as fraud prevention agencies, the data they hold, the ways in which they use and share personal information, data retention periods and your data protection rights with the CRAs are explained in more detail on the CRAIN section of each of their websites:
6.6.1 Experian – www.experian.co.uk/crain
6.6.2 Equifax – www.equifax.co.uk/crain
6.6.3 TransUnion – www.transunion.co.uk/crain
7 Data protection
7.3 Please note that it is your responsibility to let us know if any of your details change (this includes your address or payment details). We need this information to make sure that your reporting is accurate and we can contact you as needed. We will not be responsible in the event that you provide us with information that is inaccurate.
8 Changes to this agreement
8.1 We may make changes to these terms and conditions at any time, but only where:
8.1.1 we reasonably consider that it makes the terms easier to understand or fairer to you;
8.1.2 we reasonably consider that the change will benefit you (or isn’t to your disadvantage and wouldn’t increase the cost to you);
8.1.3 this reflects reasonable changes to the way we run our business because of a change in market conditions, in technology, or in the systems we use;
8.1.4 this reflects (or anticipates changes in) legal or regulatory requirements that apply to us, including fraud prevention requirements;
8.1.5 this helps maintain or improve our systems and/or services (including ensuring that we have prudent and appropriate checks in place);
8.1.6 this reflects costs that we incur;
8.1.7 this reflects our credit assessment of you;
8.1.8 this would rectify a mistake; or
8.1.9 you request a change that we agree to.
8.2 Any change that we make will be reasonably proportionate to the effect the change has on us.
8.3 Because this contract has no fixed end date, we may from time to time need to make changes for reasons not set out here.
8.4 We will tell you about any changes to the terms via email at least 30 days before we make the changes (unless the changes are to your advantage or we need to make changes to continue to comply with legal or regulatory requirements, in which case we may give you less notice). The email we send you will let you know when the changes will start to apply to you. During that period, you can close your account with us without incurring any new charges. To close your account, please contact us at email@example.com.
9 Monthly statement
9.1 Using the Bits app, you will be able to see:
9.1.1 how much of your monthly credit limit you still have available;
9.1.2 how much you have spent using your Bits Store Card Plus each month; and
9.1.3 when your next payment is due.
9.2 This will update after every transaction.
10.1 There are no charges or interest rates applicable to credit on your Bits Store Card Plus. The only payments you will need to make would be repayments of any amounts you owe for using our services.
11 Making payments to Bits
11.1 When signing up to Bits, you will need to register a debit card or prepaid card (in either case, which is registered in your own name) onto the app. By giving us these details, you authorise us to use this card to take payments in accordance with these terms.
11.2 On the date that your repayment is due (see sections 20 onwards for how the various services work), we will take payment from that debit card or prepaid card (using the payment authority you provide to us in paragraph 11.1 above) to repay any amounts you owe us. If that debit cannot go through and you do not repay amounts owed within a month of that repayment being due, you will be in breach of this agreement.
11.3 The payment authority you provide to us in paragraph 11.1 will last for the length of our agreement. If you seek to terminate this authority, our agreement may also be terminated.
11.4 You are responsible for keeping your payment information up-to-date.
12 Keeping your account safe
12.1 You must always keep your account details safe, and make sure no-one else can use them without your permission.
12.2 Please memorise your password and other security information and do not share these with anyone other than Bits. Never write them down or otherwise record them without first disguising the information.
13 How you can close your account
13.1 You can close your account with us by giving us notice. This is done by sending us an email (to firstname.lastname@example.org) from the email address you used to register, asking us to close your account. We will close your account as soon as possible after you have given us notice, but you must repay any money already owed to us as previously scheduled.
13.2 Please remember that deleting the app will not close your account. To close your account, you must give us notice as described above.
14 Cancelling a new account
14.1 When you open a new account with us, you have a legal right to change your mind within 14 days from the day on which we issue the payment receipt (this is known as the cooling-off period). If you exercise your right to change your mind and not continue with Bits during the cooling-off period, you will receive a refund for the monthly fee (if paid during that period).
14.2 We will make any refunds due to you as soon as reasonably practicable to the same card you used to make the payments, but no later than 14 days from the date on which you cancelled the contract. To exercise your right to cancel during the cooling-off period, you can email us at email@example.com.
15 Bits is not regulated credit
15.1 Bits is not providing a service which needs to be regulated by the Financial Conduct Authority or any other financial regulator. This means that you also cannot apply to the Financial Ombudsman Service if you experience any issues with our services.
16 When we can close your account
16.1 We may close or limit the use of your account, or end the contract for a particular service at any time if:
16.1.1 you miss a repayment to us and you still do not make that repayment within a month of it being due;
16.1.2 we consider that there is a change in your financial circumstances such that you may have difficulty meeting your commitments to us;
16.1.3 we think there may be unauthorised or fraudulent use of your account;
16.1.4 we reasonably suspect that you have given us false or misleading information;
16.1.5 we reasonably suspect that your account is being used for an illegal purpose;
16.1.6 you are making repayments to Bits using a card not in your own name;
16.1.7 you have abused our staff over the phone or through email;
16.1.8 we are required to do so by any law, regulation, or sanction; or
16.1.9 we reasonably suspect that you are not meeting your obligations under these terms, or were not entitled to open your account.
16.2 We may also discontinue Bits services at any time, either due to decisions taken by us or by relevant authorities.
16.3 Where possible, we will provide you with reasonable advance notice over email. If this is not possible, we will notify you as soon as we can after the event.
16.4 If you have made a repayment to us for using the function described in section 20 which we have not reported to the relevant CRA at the point in time at which your account is closed, we will refund that latest payment. If we have already reported your repayment to the relevant CRA, you will not be entitled to compensation.
17 Our liability for loss or damage you may suffer
17.1 If we fail to comply with the terms of this agreement, we are responsible for loss or damage you suffer that is a foreseeable result of our breaking this contract or our failing to use reasonable care and skill, but we are not responsible for any loss or damage that is not foreseeable. Loss or damage is foreseeable either if it is obvious that it will happen, or if at the time the contract was made, both you and Bits knew it might happen.
17.2 We do not exclude or limit in any way our liability to you where it would be unlawful to do so. This includes liability for death or personal injury caused by our negligence or the negligence of our employees, agents or subcontractors, and liability for fraud or fraudulent misrepresentation.
17.3 If defective digital content which we have supplied damages a device or digital content belonging to you and this is caused by our failure to use reasonable care and skill we will either repair the damage or pay you compensation. However, we will not be liable for damage which you could have avoided by following our advice to apply an update offered to you free of charge or for damage which was caused by you failing to correctly follow installation instructions or to have in place the minimum system requirements advised by us.
17.4 We only supply Bits for domestic and private use. If you use the products for any commercial, business or re-sale purpose, we will have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity.
17.5 We are providing you with a credit building service. As such, we are not in the business of being a broker and we cannot predict or provide any guarantee around how lenders will respond to you for current or future credit applications. We will not be responsible for any losses arising out of any such applications, whether we have met the terms of our agreement or we have breached it.
17.6 We are only responsible for reporting your activity on Bits to CRAs, and we are not responsible for how the CRAs may use this, including whether (for example) any such reporting will result in an increase in your credit score. We are also not responsible for any decrease in your credit score. We are not liable towards you in the event that any CRA removes Bits from its user files or fails to update their file.
18 Your liability to Bits
18.1 You are responsible for the payment of any debt that arises on your account.
19 If we don’t take action on any issue
19.1 If we waive any of our rights under this agreement, it does not mean that we will waive that right again in the future. This means that sometimes, we may use our discretion to decide whether or not to take action against you under the rights we have in these terms, and just because we may decide not to take any action on a particular occasion, it does not stop us from taking action against you in the future.
20 The core Bits service
20.1 What the service is
20.1.1 The Bits Store Card Plus is a ‘credit-builder card’: when you sign up to our service, you are provided with a virtual card with a line of credit attached to it. There is a monthly fee for this service; your fee is paid using the credit on the Bits Store Card Plus, and you repay that at a later date. Information about your repayments on the Bits Store Card Plus is sent to certain CRAs, such a TransUnion, Equifax, or Experian (the full list of CRAs we send this information to is available on request at any time). The CRAs who receive this information will use the information in accordance with their policies and processes and we cannot guarantee that the information we report will increase your credit score nor can we influence the CRAs in any way.
20.1.2 Please note, however, that some CRAs will only accept reports for monthly credit repayments of £20 or more. You can always ask us for information on the limits set by any CRAs in case you are worried.
20.2 How the service works
20.2.1 We offer different monthly payment plans for this service as set out in the [Plans] section of the app. You can select the value of your service when you first sign up on the app. When you sign up to the service, you need to select a date for making repayments (you can later change this date in the app by giving us one month’s notice, but this change won’t take effect until any outstanding repayment has been cleared). Before you submit your application to open an account, we encourage you to tap the “I’m not sure what I can afford” link at the bottom of the signup page. There, you can tell us your monthly income and your monthly outgoings so we can check that this level of payment is right for you.
20.2.2 A monthly credit limit is set on your Bits Store Card Plus proportional to the amount of your monthly payment plan. You can see your remaining credit limit for the current month in the Bits app as part of your monthly statement (see section 9 above).
20.2.3 Two weeks before the date you set for repayments when opening your account with us, the amount due under your monthly payment plan will be due and payable and we will charge this amount against the credit on your Bits Store Card Plus. This means that we will provide you credit to pay to us the monthly fee. You will need to repay the credit amount on the agreed repayment day – don’t worry, you do not need to do anything, as we will use the debit/prepaid card we have on file (see section 11 above on making payments to Bits).
20.2.4 We report your repayment history to the relevant CRAs every month. It may take some time before CRAs record this on your credit file – it could take up to 8 weeks from your first payment.
20.3 Can I increase/decrease my monthly payment amount?
20.3.1 You are able to either increase or decrease the amount you pay per month, or cancel your monthly payments, as described below. When you increase or decrease the amount you pay, your credit limit will be increased and decreased proportionately at the same time.
20.3.2 You can let us know that you want to downgrade to a lower payment amount using the Bits app. We will reduce your payment amount as soon as reasonably possible after you have given us notice, but the amount you pay (and your credit limit) will not be reduced until the date that the next monthly payment is due to be taken from your Bits Store Card Plus. Please note that if you reduce your payment amount to less than £20, then any future payments you make may not be eligible for reporting to all CRAs.
20.3.3 You can let us know that you want to upgrade to a higher payment amount using the Bits app. We will increase your payment plan as soon as reasonably possible after you have given us notice, but the amount you pay (and your credit limit) will not be increased until the date that the next monthly payment is due to be taken from your Bits Store Card Plus.
20.3.4 We will report your upgraded plan to CRAs once you make your first repayment under that plan, but we it can take up to 12 weeks for CRAs to reflect this upgrade on their credit files.
20.3.5 Before you submit your application to upgrade, we encourage you to tap the “I’m not sure what I can afford” link at the bottom of the signup page. There, you can tell us your monthly income and your monthly outgoings so we can check that this level of payment is right for you.
20.3.6 Please see section 13 above on how to close your account.
21 The Bits Store
21.1 The store
21.1.1 We have an in-app store accessible only to Bits customers with a Bits Store Card Plus (see section 20 above) where you can use the credit on your Bits Store Card Plus to purchase gift cards for a selection of retailers. These gift cards are supplied to customers from Bits itself, and the selection on the store may vary depending on availability.
21.1.2 You can purchase gift cards of a value not exceeding the difference between your monthly credit limit (less any unpaid amounts due to us) and your monthly fee.
21.1.3 Repayments for the store work a bit differently to the repayment of your monthly fee. When you purchase a gift card, credit on your Bits Store Card Plus is used to pay for it. 7 days after your purchase in the Bits store, a pre-authorisation for the cost of the gift card is obtained from the debit/prepaid card we have on file for you, and repayment is taken later that day (see section 11 above on making payments to Bits). Each use of your Bits Store Card Plus to buy a gift card is a standalone extension of credit for the cost of that gift card.
21.1.4 If you downgrade or cancel your monthly payments (see section 20.3 above), any amounts due for purchases on the Bits store would still be repaid as scheduled.
21.2 The gift cards
21.2.1 Each gift card sold on the Bits Store is subject to terms and conditions set by the issuing retailer. We are not responsible for your use of the gift card or for any action taken by the issuing retailer unless any loss was caused by our action. These terms can be found here.
21.2.2 We send a notification email to your registered email address as soon as you purchase a gift card. 2 business days after the purchase, your gift card will be received over email, and will be visible in the ‘Wallet’ section of the app.
21.2.3 If 3 business days after the purchase you have still not received your gift card voucher, please contact us at so we can resolve the issue. Please remember that you are responsible for keeping your contact details up-to-date (see section 3 on how we contact you).
21.3.1 If you did not mean to purchase a gift card, you can only cancel your order before the gift card has been sent to you. We cannot cancel a purchase of a gift card after it has been received. These gift cards are digital content not on a tangible medium, and by buying a gift card from the Bits store, you acknowledge and consent that your right to cancel the order is lost once you receive the voucher.
21.3.2 If you tried to use a gift card at a retailer and it did not go through, please contact the retailer itself in the first instance. Should the issue not be resolved, we can then contact the retailer to confirm whether the code had been used before it was sent to you – if it was, we will send you a replacement.
21.3.3 Gift cards are usually non-refundable, but we may offer refunds on a discretionary basis. Each refund request would be considered individually – you can submit these by contacting us at within 7 days of the purchase.
Last updated: January 28th, 2021
Model Cancellation Form
(Complete and return this form only if you wish to withdraw from the contract during the cooling-off period)
To Fea Card Limited, Hallswelle House, 1 Hallswelle Road, London, England, NW11 0DH.
I hereby give notice that I cancel my contract of sale for the supply of the Bits subscription service,
Ordered on [*]/received on [*],
Name of consumer,
Address of consumer,
Signature of consumer(s) (only if this form is notified on paper),
[*] Delete as appropriate