cred.ai Visa card review
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Kliment Dukovski is a credit cards and investments writer. He's written over 600 articles to help readers find and compare the best credit cards. Kliment has also written on money transfers, home loans and more. Previously, he ghostwrote guides and articles on foreign exchange, stock market trading and cryptocurrencies.
This card is truly a unicorn in the sense that it works like a debit card — i.e. you can spend only what you have — and it works like a credit card with its own algorithm that focuses on credit utilization instead of only on timely payments. According to cred.ai’s team, this can help cardholders build credit faster than using traditional credit cards. Other features include virtual cards you can more safely use at shady websites and vendors, a cool-looking metal card, and no annual fee or any other fees and interest.
Backed by investors like John Legend and former AOL CEO Tim Armstrong, the Unicorn Visa Card and the cred.ai app launched in beta on August 6, 2020. Now anyone can apply for beta access and start building credit.
How to apply for cred.ai Visa card
The cred.ai Visa card is still in beta, but you can request access. Here’s how:
- Visit the cred.ai website.
- Click Apply for beta access.
- Fill out the form with information like your name, address and phone number.
- Click Submit.
What credit score do I need?
You can apply with any credit score or with no credit history.
cred.ai Visa card benefits
- Build credit. With a feature called Credit Optimizer, cred.ai aims to help people with no credit build their credit score faster than they would with traditional cards. According to cred.ai, this is an AI-enabled algorithm that reports your credit utilization to credit bureaus and not just your payments like standard credit cards do.
- No fees and interest rates. You won’t pay an annual fee or any other fees and interest rates. The way we understand this card is that you use your own funds deposited into your account, much like a debit card, and you don’t get any credit line from the card issuer.
- Stealth cards. You can create virtual cards for high-risk online transactions and then close them to keep your account safe.
- Metal card. The Unicorn card is made out of metal, which gives it a premium feel.
- Start using your card right away. Once approved, you don’t have to wait for the physical card to arrive. You can use your virtual card to make purchases or add to your digital wallet.
- Early access to your paycheck. You can access your paycheck and deposits two days before they land in your account.
Which bank issues the cred.ai Visa card?
The cred.ai Visa card is issued by Wilmington Savings Fund Society (WSFS). Your funds are also FDIC insured up to $250,000.
Compare credit cards for building credit
The cred.ai Visa card is a metal card designed for building credit and protecting your account from unauthorized access. You don’t get to earn any rewards, but this is compensated with no interest or fees of any kind. If this card isn’t right for you, check out other credit cards to help you build credit.