Build by FS Card?

[Anonymous]

My husband just told me about an article he read on this fairly new card called "Build." Seems like it might be a legit way for those with subprime scores start a credit build or rebuild. It doesn't sound predatory, like Credit One and others on that level.

http://www.businessinsider.com/build-credit-card-helps-people-with-bad-credit-scores-2017-5

Just curious to see what everyone thinks. Move out of the way, Credit One?

[Anonymous]

It sounds like a decent offer; as long as the $75 AF is the only fee. Looks like one needs an offer code in order to see all the terms and conditions. As long as there is a grace period and interest rates are below 20% it would be a great option for some.

The card is issued by Republic Bank & Trust. Never heard of them before. 

I will still guide people to a secured card from a well known bank or credit union for starting out or rebuilding. But, at least on the surface, this looks way better than Credit One or First Premier. 

[Anonymous]

Looks actually like a decent card for rebuilders but there's no way to apply

[Anonymous]

this looks awesome. too bad its by invite only apparently

[AverageJoesCredit]

Hopefully hope for someone. Thanks for posting Bella

[joltdude]

Their rates are on the highish side.. (wont say exactly anywhere) but i was reading about them as well.. They are trying to go into the deep subprime space.. .. They seem to want folks who show a bit of potential and some upward movement... i.e not fresh lates or baddies.. If im reading the articles correctly .. its 500$ , 75$ annual fee and a mid to high 20s APR.. but if im reading between the lines.. there is potential for upward mobility with your CR improving on both the CL and downward mobility on the score after a period of time.... Not sure of the details... but presume they will periodically review accounts... They want folks in this situation to use their card vs a predatory lender/payday loan....  It looks like an interesting product for those who are in that part of their rebuilding .... realize rebuilding doesnt necessarily mean a card  its also baddies and getting things removed or settling as well...

-J

[joltdude]

I actually think this card would pair nicely with a secured product from one of the more mainstream banks... if possible..... 

I could see a Build card holder growing into say.. a Cap One (if they are really deep down in the subprime space) secured then perhaps one of the more better known banks.... (Id mention NFCU around that time... but alas.. I missed the boat and think thats still going to be an issue for some going forward... Hindsight is 20/20 however)

[Anonymous]

Thanks for all the responses! I agree with what everyone has posted. It's interesting that the founder, who worked for Cap1 evidently, saw this need and created a product to meet it. Like the article says, they are a for profit company for sure, but they are a far cry from Credit One, Surge, First Premier, Blaze, etc. I hope it is a product that lasts, and that can help people get started.

[Anonymous]

Just found the Terms and Conditions on their site. High APR, but if you're rebuilding you should be PIF anyways. But no grace period? That's not cool.  

[Anonymous]

No way to apply...😥Reminds me of Merrick Bank