Yeah, you can get up to 5% with friend referrals, no more than that so I don’t think it’d be an issue running out of people to refer as I started with 3% interest so I only have 2 people to refer to hit the full amount (I’m really shit at this and haven’t sent my code to anyone though)
I don’t have a credit card, I just have one account so it’s perfect for me. Surely the app would still work though regardless of whether or not it sees one payment going out or several. It compares month on month spending regardless of what that spending is.
To be honest even if the interest disappears after a year it’s still saving me money that I just wasn’t saving otherwise, so there’s no negative points for me at all - someone with bad credit, no savings, no disposable income. After 7 weeks I have £358 in there, I’ve never managed to save any money before now, ever.
Plus there’s no obligation to keep your money in there. I could transfer it out at the end of the month into a savings account with my bank once the interest dries up, if it does. There’s also plans to integrate it with Monzo which I’m really excited about!
It’s aimed at people like me so none of those drawbacks are drawback for me whatsoever