Not everyone has a credit score. In fact, everyone starts without one! But how can you build a credit score if everything that lets you build a credit score also requires a credit score?
It’s simple. Apps like Grain make it possible to get a line of credit without a credit score, although there may be some caveats and limitations.
Today, we’re going to look at 12 apps like Grain. We have researched several apps that are you could try this out alternatives to Grain to help you build your credit score.
What is Grain Digital Credit Card?
First: What is Grain Credit? Grain is a credit card alternative. You connect Grain to your bank account and Grain lets you use it as though it was a credit card.
There’s a 15% APR on charges – but it’s also designed to help you manage your expenses. It helps people build credit who might not otherwise qualify for credit.
1. Petal Card
The Petal Card is a Visa card for those who don’t have any credit history. This credit card isn’t a secured card though; you don’t need to put any money down.
There are two versions of Petal. The first version has $300 to $5,000 limits and no annual fees, designed for those who have never established credit before.
The second version has $300 to $10,000 limits and no fees and is designed for those who are building their credit.
2. Point Card
The Point Card is basically a new evolution of a secured card. With the Point Card, users are able to load up a card and use it just like any other credit card.
But unlike many other secured cards, you do get points for your spending; so the card starts to pay you.
The Point Card is great for those who are just starting to build credit, but it doesn’t provide an unsecured credit line.
3. Sequin Card
A card designed for women, the Sequin Card is like a credit card that operates like a secured debit card.
It links to your bank account and is used just like a credit card rather than a debit card, so you have an additional layer of safety. It also builds credit while preventing debt.
4. Jasper Card
A card for those who want to manage debt, the Jasper Card offers up to a $15,000 credit line. It doesn’t just look at a person’s credit history but also at their bank account.
So, it’s a good idea for the self-employed and other people who may have a lot of cash at hand but not necessarily a lot of credit.
5. Self Card
Self Card is a straightforward card designed for those who either have no credit or need to rebuild their credit.
Through the Self Card, users are able to sign up for a credit card, automate payments, and see how their credit score is going up over time.
This is a good credit card for those who are still learning the basics of good credit and who want to be able to improve their credit with limited risk.
6. Cash App
Cash App is a bit unique in that it’s an app where you can store funds and then access them through a debit card.
But you can also use Cash App for investments such as cryptocurrency and stock investments. And you can use Cash App to send money back and forth such as with PayPal or Venmo.
For some, Cash App can be an all-in-one cash management app. But you should still keep an actual bank account on the side.