Overview
NewDay provides consumer credit in the UK, offering its own-brand cards (Aqua, Marbles, Fluid) and store or co-branded cards with retailers. Its products include near-prime lending and a digital-only card called Bip, financed by interest income and fees and supported by retailer partnerships and securitization. It differentiates itself through widespread retailer partnerships (Argos, John Lewis, others) and a mix of direct and co-branded offerings that expand access beyond traditional lenders. Its goal is to provide responsible credit access for underserved customers and to grow its card portfolio and credit history-building opportunities through digital tools and partnerships.
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Simplify's take
What believers are saying
- NewDay issued £380 million of asset-backed notes on 16 July 2026.
- Fitch cited 4.3% average charge-offs in January 2026, down from 7.5% in 2023.
- NewDay’s 2026 open-banking rollout strengthens affordability decisions and broadens thin-file customer access.
What critics are saying
- H1 2026 complaints reached 17,729, and 27% were upheld across credit products.
- Headcount fell 9.4% from 2023 to 1,287 by March 2026.
- ABS dependence creates existential risk; funding markets freezing would choke NewDay’s origination engine.
What makes NewDay unique
- NewDay combines near-prime direct cards with retailer partnerships across Argos, John Lewis, and AO.
- Its open-banking underwriting uses transaction data, deepening affordability checks beyond bureau files.
- NewDay’s ABS platform funds separate merchant and branded books, preserving pricing flexibility.
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