cancel
Showing results for 
Search instead for 
Did you mean: 

New credit card company with NO credit checks!!

tag
Red1Blue
Super Contributor

Re: New credit card company with NO credit checks!!

Will they be reporting the payment History to CRAs ? If so how are they going it the Credit report with Credit Bureaus ?

Message 11 of 14
Anonymous
Not applicable

Re: New credit card company with NO credit checks!!


@Brian_Earl_Spilner wrote:

Isn't it basically a bank account?

 

EDIT: nevermind, I was thinking of a different card. This one is a debit charge card.

 

https://tomocredit.com/


Tomo is a poor man's American Express, basically. LOL

Message 12 of 14
OmarGB9
Community Leader
Super Contributor

Re: New credit card company with NO credit checks!!

Sounds sketchy to me. I wouldn't be comfortable with some new company having continuous login credentials to my bank account. No thanks. Smiley Indifferent


Last App: 1/10/2023
Penfed Gold Visa Card

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 13 of 14
Anonymous
Not applicable

Re: New credit card company with NO credit checks!!

They use a 3rd party for accessing your accounts (Plaid - it's one of the  popular ones among fintechs). Companies that use Plaid don't ever get your credentials or data directly. It all comes via Plaid.

 

I work for a fintech myself (small business loans), so the tech didn't concern me and i gave this a try. The preapproval is bogus - all it really asked was your monthly income and bank account balances. Then it tells you are approved "up to $___",  but that there's a 4-8 week wait "to manually process your application".  It sounds to me like they are still not actually live, but nothing on their website seemed to indicate this is actually still just a waiting list - which rubbed me the wrong way. 

Message 14 of 14
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.