Stumbled upon a new credit card called Tomo. Should I get this as my FIRST card?

[Red1Blue]

Hi @Anonymous Did you ever apply for Tomo Card ? If you don't mind me asking you did you get it, if so what Credit Limit they gave you?

[Anonymous]

I did apply. Got a $500 credit limit. I canceled 3 months later as their customer service was terrible and they never even were reporting to the credit bureaus. Every time I asked what was going on they would come up with another excuse. Also, they were doing some sketchy stuff with my account with the weekly payments. If you missed a weekly payment they would start trying to charge any account I linked without my authorization. I looked at their terms of service and nowhere did it state they could do that. I actually ended up reporting them to the CFPB. I would not recommend the card to anyone. 

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@Red1Blue wrote:

Hi @Anonymous Did you ever apply for Tomo Card ? If you don't mind me asking you did you get it, if so what Credit Limit they gave you?

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Note: Also saw some other sketchy stuff recently on Reddit about them. 

[GatorsFan84]

I'm really surprised all the neg on this card. I signed up with them out of curiousity and they gave me a $1k credit limit when I linked my BoA account.  I've used the card for various things over the past few months and had no issues.  They take out weekly auto payments from my BoA to "top off" the card which is fine with me.  It's basically a charge card.  I even contacted their customer service to find out if they were going to add auth users soon and got a response within hours that was very polite.  Strange all the negativity towards them.

[tricie17]

I am going to chime in here. Credit is a good tool to have when needed. All you will need are three good cards and starting with secured is not a bad idea just make sure they are reputable institutions such as Discover, Navy Federal, Chase Bank, Citi Bank etc. However, I believe that a good emergency fund and/or cash on hand will carry you further than a credit card. Credit cards can get you in full mode trouble without a budget to follow how you use them. At your age you have plenty of room for an avid credit picture so I would say not to rush into the credit game and save first.

[Remedios]

This thread is now a year old, and card itself is no longer new.

If anyone has questions, they are more than welcome to start their own since it's very hard to address individual questions/concerns with multiple topics within same thread.