tomo credit card reddit
As you know 20 cashback is a lot. Tomo is the next generation of credit card catered to young adults students and immigrants looking to build a better financial future in the US.
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The Tomo Credit Card doesnt charge any fees or interest.
. The Tomo Credit Card created by San Francisco-based startup TomoCredit is a product for those with no credit or poor credit FICO scores of 629 or below who want to. Its main idea is that it doesnt beleive in credit scores and does not make a decesion based on your credit score. The Tomo Credit Card is part of the new-age credit cards that weigh in other factors like financial history instead of just credit score.
Theres no APR because you cant carry a balance. It is common whenever you swipe your card there is interchange fees that merchant covers Typically credit card companies make money from three things. The Tomo card is issued by Community Federal Savings Bank member FDIC pursuant to license by Mastercard.
I recently heard of this new card called Tomo Card. Interchange fee from merchants 2. Instead of gauging your credit score Tomo determines your eligibility based on your financial history.
Alternative approval process. The Tomo Credit Card issued by Community Federal Saving Bank is designed for anyone with no credit history who wants to start building their credit and earn unlimited 1 cash back on all purchases. While some other cash back cards earn at a higher rate like 2 or 3 those cards have.
The 70th percentile of wage-earning households brings in 107908 annually and has 64144 in standard expenses. When you use the Tomo Card youll also be able to earn rewards. This is also what impacts your.
To sustain a card that doesnt require a credit score deposit or fee of any kind your bank balance becomes a primary input for our underwriting. Assuming 50 of such expenses are charged to this card total annual card spending. The latest tweets from tomocredit.
Interest rate think of Capital one charging 10-30 APR 3. Ad Apply With Confidence. Tomo makes money from standard interchange fee 2-3 from merchants not from customers.
Instead of a credit check Tomo assesses your financial history using information in your application. TOMO Credit Card - No Credit Check Required - 10K Credit LineThe TOMO credit card is a credit card that comes with no annual fees does not check you credit. This card earns 1 cash back on purchases.
Tomo Credit Card no credit check builds credit. Since you can get up 20 cashback you can refer up to 19 people every 3 months to get the most out of the credit card. Tomo uses third party service providers including Finicity and Plaid to integrate various bank accounts across the United States.
Enjoy Cardholder Benefits Such As 0 Fraud Liability and No Foreign Transaction Fees. Yeah people kind of love our card. To have an equal opportunity to obtain our credit card.
They dont even do a HP for applying. This means at least one bank account should be linked at all times. Apply today with no credit score required.
Instead TomoCredit makes money from interchange fees a surcharge assessed on. Credit limit between 100 and 10000 also based on your. Join 30000 people choosing financial autonomy Tomo addresses the problem of fair access to credit and will hopefully inform and inspire other companies to do the same.
The Tomo MasterCard comes with 1 cashback on all purchases. Chase 524 is counting new credit card accounts not hard pulls so yes I would assume that it counts toward 524. Ad Enjoy 0 Intro APR for.
Instead you must give them access to your bank account and they look at your. For each person that you refer and gets approved for the card you get an additional 1 cashback bonus for 3 months. Tomo is the next generation of credit card catered to young adults.
See Cards Youre Pre-Approved for Before Starting Your Application.
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