Monzo launches premium metal card

Monzo's new Aura metal credit card costs £15 monthly and includes Apple TV and Google AI Plus subscriptions, plus uncapped 1% cashback on groceries and 0.5% on everything else.

Auto-invest your cashback rewards

The card automatically invests your cashback into funds through Monzo Investments, or you can receive it as cash. This is the first UK credit card with this auto-investing feature.

The math on monthly spending

You'd need to spend roughly £750 on groceries and £1,500 on other purchases monthly to earn £15 in cashback and break even on the fee.

Subscription perks worth £360 yearly

Apple TV costs £9.99 monthly and Google AI Plus with 2TB storage costs £7.99 monthly. You also get two airport lounge passes and two fast-track passes annually.

High interest rates apply

The card carries a 64.2% representative APR and 29% variable interest on purchases, making it expensive borrowing if you don't pay off your balance monthly.

Three-month interest-free period

Purchases over £100 get three months interest-free, but you'll need to pay off your balance to avoid the high interest rates.

Investment platform fees waived

Monzo's usual platform fee of up to 0.25% is waived for Aura cardholders, but the £15 monthly fee still makes it an expensive way to start investing.

“customers value products that 'deliver both immediate benefits and longer-term financial progress in one'”

Better alternatives for beginners

Fee-free platforms like Freetrade, InvestEngine, and Trading 212 let you set up small monthly investments without paying £15 monthly.

Compare before you apply

Credit cards are expensive borrowing, so compare options and check your eligibility before applying. Set up a direct debit to clear your bill monthly.

Lloyds Ultra offers fee-free cashback

The Lloyds Ultra Credit Card pays 1% on all purchases for 12 months, then 0.25%, with no monthly fee or foreign transaction charges.

American Express introductory offers

Amex Everyday has no fee and pays 5% for three months (max £125), then 0.5% up to £10,000 and 1% above that.

Amex Preferred Rewards Gold

This card costs £195 annually (waived first year) and offers 30,000 bonus points when you spend £3,000 in three months. Points reduce your balance or buy rewards.

Cancel before annual fees hit

With premium cards like Amex Gold, remember to cancel before you're charged the annual fee if you won't earn enough rewards to offset it.

Cashback builds differently

Some cards accumulate cashback and apply it yearly rather than paying it out monthly like Aura does, affecting how quickly you see rewards.

No foreign transaction fees

Both Monzo Aura and Lloyds Ultra don't charge foreign transaction fees, making them good options for spending abroad.

The bottom line on Aura

Only choose Aura if you'll earn at least £15 monthly in cashback and genuinely use the Apple TV and Google AI Plus subscriptions to justify the fee.