3 New Cards for Poor/Fair/Good Credit

[draychi]

** Sharing just from my experience, and to hopefully help others. Please don't run out and apply for these just becuase you didn't know about them **

So I haven't seen these cards mentioned too much yet.They're fairly new and decent for rebuilds, thin files or increasing available credit - especially if you're stuck in that 590-640 range. Below is my situation and insights on these cards.

I've been rebulding for 6-8 months. 620-660 FICO's (up from low 500). 9 collections paid/removed. 9+ new cards in the last 8-10 months.

These cards do seem to look at income and other factors aside from scores/reports. I'm assuming my approvals came from a $64k/yr income, but hopefully this will help some of you in the same situation. My DTI is 8-10%. These might be easy cards to grab to help some of you guys.

1. Jasper Mastercard - https://www.jaspercard.com

- WebBank card

- TU HP

- 15.49% - 24.99% (Variable)

- Plaid to snoop on your bank info, but they weigh your finances into the decision

- You can get up to 6% CB by referring friends

- Approved for $1k

- No AF

- No pre-approval (can't remember where I got the info on this card, but I pulled the trigger with a 610 TU)

2. OppFi Mastercard - https://www.oppficard.com

- This was a SOFT PULL

- Starter/building card

- 35.99% APR

- $99 Annual Fee

- Can setup auto payments

- Joined the waitlist and got an invite a week later or so (as of 8/19/21)

- Created by OppLoans (I've used them in the past for installments...shhh lol). Opportunity Financial, LLC

3. Petal 1 Card - https://www.petalcard.com

- Another WebBank card

- HP on Experian

- 29.49% APR

- No AF

- $500 SL

- Auto CLI after 6 payments

- Free Experian CS tracking

- Can setup auto payments

** Edit 8/28/21 - Denied for some reason, they said I don't have income? lol. Took them 3 weeks to go over my app, odd **

4. Tomo Credit Card - https://tomocredit.com

- I applied over a week ago and it's still in review. (as of 8/19/21)

- No credit pull. They seem to be based on income and outgoing bills/debt. Plaid I think... can't remember the process.

- No fee's or APR (intro? not sure/lack of info)

- Issued by Community Federal Savings Bank

[SUPERSQUID]

Thanks for the list.

I would like to add that jasper and petal require you to be 2 years post bk, at least thats what they told me.

[MileHigh96]

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@SUPERSQUID wrote:

Thanks for the list.

I would like to add that jasper and petal require you to be 2 years post bk, at least thats what they told me.

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Not sure why they said that because I am just 6 weeks post BK7 and I applied last week (Jasper) and was approved this morning.  Their approval process does seem to take a bit of time and they held up my application until I could send them a paystub for proof of income, but the day after I sent that, they approved me for a $2,000 CL.

I found them as a recommendation from my ExtraCredit monitoring account.

[MichaelMyers]

Jasper asks you to link your bank account. That sounds fishy.  🐠

[justjac2]

I have the Jasper (June 2020) and Petal 2 (Nov 2018). Both linked to a bank account thru Plaid, and I've had NO issues with either one. I was invited to a one-on-one Zoom call with someone at Jasper after they rolled out their 6% rewards structure, so they do exist and it's not a scam.

[SUPERSQUID]

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@MileHigh96 wrote:

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@SUPERSQUID wrote:

Thanks for the list.

I would like to add that jasper and petal require you to be 2 years post bk, at least thats what they told me.

---

Not sure why they said that because I am just 6 weeks post BK7 and I applied last week (Jasper) and was approved this morning.  Their approval process does seem to take a bit of time and they held up my application until I could send them a paystub for proof of income, but the day after I sent that, they approved me for a $2,000 CL.\

This was about a year and a half ago and they sent me a letter in writing that the main reason for denial was a bk7 less that 2 years old. to tell you the truth i dont want their card now, i'm getting better cards but i did have to accept some sub primers to move up the ladder. maybe they changed the criteria since i applied back then or maybe its the type of bk, is your bk 7  or 13?

anyway congrats and enjoy the card, good luck

I found them as a recommendation from my ExtraCredit monitoring account.

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[draychi]

These Fintech cards are a new wave of credit. They tend to checkout your banking and finances more than a credit score; this can be beneficial to a lot of people to get easy credit or rebuild. Most of these cards are backed by large CU's and smaller banks.

[b0yinterrupted]

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@draychi wrote:

** Sharing just from my experience, and to hopefully help others. Please don't run out and apply for these just becuase you didn't know about them **

So I haven't seen these cards mentioned too much yet.They're fairly new and decent for rebuilds, thin files or increasing available credit - especially if you're stuck in that 590-640 range. Below is my situation and insights on these cards.

I've been rebulding for 6-8 months. 620-660 FICO's (up from low 500). 9 collections paid/removed. 9+ new cards in the last 8-10 months.

These cards do seem to look at income and other factors aside from scores/reports. I'm assuming my approvals came from a $64k/yr income, but hopefully this will help some of you in the same situation. My DTI is 8-10%. These might be easy cards to grab to help some of you guys.

1. Jasper Mastercard - https://www.jaspercard.com

- WebBank card

- TU HP

- 15.49% - 24.99% (Variable)

- Plaid to snoop on your bank info, but they weigh your finances into the decision

- You can get up to 6% CB by referring friends

- Approved for $1k

- No AF

- No pre-approval (can't remember where I got the info on this card, but I pulled the trigger with a 610 TU)

2. OppFi Mastercard - https://www.oppficard.com

- This was a SOFT PULL

- Starter/building card

- 35.99% APR

- $99 Annual Fee

- Can setup auto payments

- Joined the waitlist and got an invite a week later or so (as of 8/19/21)

- Created by OppLoans (I've used them in the past for installments...shhh lol). Opportunity Financial, LLC

3. Petal 1 Card - https://www.petalcard.com

- Another WebBank card

- HP on Experian

- 29.49% APR

- No AF

- $500 SL

- Auto CLI after 6 payments

- Free Experian CS tracking

- Can setup auto payments

** Edit 8/28/21 - Denied for some reason, they said I don't have income? lol. Took them 3 weeks to go over my app, odd **

4. Tomo Credit Card - https://tomocredit.com

- I applied over a week ago and it's still in review. (as of 8/19/21)

- No credit pull. They seem to be based on income and outgoing bills/debt. Plaid I think... can't remember the process.

- No fee's or APR (intro? not sure/lack of info)

- Issued by Community Federal Savings Bank

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There's another one I came across called Sable Card  https://sablecard.com  Unfortunately my bank would not connect or transfer money to their bank so I immediately closed the account. They still sent me the card. I called they said the account was closed and 2 months later  they added the closed account to my Equifax report. Kinda miffed, asked them to delete it because it's not my fault my bank won't let me connect to them. They're looking into it.

[rchvmz]

I can't seem to find any DP on this JASPER card---Its backed by web bank----Pulls TU and uses plaid to connect to bank acct---any one ahve any info or threads about SL-------scores, and BK friendly or not

[Drifter73]

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@rchvmz wrote:

I can't seem to find any DP on this JASPER card---Its backed by web bank----Pulls TU and uses plaid to connect to bank acct---any one ahve any info or threads about SL-------scores, and BK friendly or not

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I can't speak for Jasper. However I have x2 web bank cards, one of which also uses plaid.

Jasper, Petal, and oportun are rebuilding and starter cards. I would imagine the Jasper will also have a $500 sl like Petal and oportun for income under $3000 mo.

Once you use plaid, it could give you a higher starting limit if you exceed $3000 per mo. Income. (I'm at $2800)

Petal has auto cli every 6 months and oportun actually did an auto cli after 2 months for me.

That's my experience with web Bank cards anyways, but not Jasper specifically.

Note: Petal with plaid was a sp and oportun was a hp on tu. 

Furthermore, Petal shows on all three tu, eq, ex and oportun only shows on tu and ex.