Bip does an excellent job of simplifying costs with no fees and a single interest rate.Bip cardless credit is a line of credit that you can access without having to use a physical card. Bip Credit claims to be the first to offer cardless credit in the UK.Bip Credit operates much like a regular credit card provider, but instead of accessing your credit through an actual credit card, you use and manage your credit account entirely from your phone.

When you apply, you’ll be given a credit account with a variable interest rate that you can use in stores via Google Pay and Apple Pay or online using your 16-digit Bip number, expiry date and CVV.
Bip Pros: Quicker to get going. Forget waiting for your card to land on the doormat (and your PIN a week later).
One simple rate and no additional fees. Credit card rates and fees are usually complex, but Bip has radically simplified this.

Pay your balance off in full every month and avoid interest altogether. It's well worth setting up a direct debit to pay off the full amount each month if you can. Thanks to those interest-free days, you'll avoid paying any interest at all this way.
Compatible with Google Pay and Apple Pay. Plus with your virtual card numbers, you can shop online the same way you do with your debit card.
Hate plastic? You're doing your bit! OK, so one less piece of plastic isn't going to save the world, but not having to carry around and keep track of a physical card is refreshing.
No currency conversion fees. Most credit cards charge about 3% on non-sterling transactions. Not so Bip, which converts currencies at regular old Mastercard rates.
Use Bip responsibly to build your credit score. Stick to your limit, make repayments on time and Bip stands to benefit your credit record.

Bip Cons: Variable interest rate. Unlike most credit cards, Bip comes with just one rate, but like any standard card rate, it's variable – meaning it can change over time (generally variable rates move in line with the Bank of England base rate). The rate is also not the most competitive around, but it's targeted at those with limited credit histories. If you only make the minimum repayment each time, it could get expensive.
Forgot to charge your phone? Oh dear. You're depending fully on the app with Bip, so if you lose your phone or if it runs out of battery, then unless you've memorised the 16-digit number, expiry and CVV, you could be a bit stuck.
Miss a payment or go over your limit and you'll hurt your credit score. Like other lenders, Bip reports customer payments back to credit reference agencies and they form part of your credit record.