How Zolve is Revolutionizing Credit Card Access in the US

How Zolve is Revolutionizing Credit Card Access in the US

Rupali Amin
Rupali Amin

Table of Contents

? Access to Equitable Credit

30% of Americans lack access to affordable banking services that can support them during difficult times. Unfortunately, the pandemic has worsened this issue, particularly with the latest economic struggles. The loss of jobs during the pandemic has left many people unprepared for financial emergencies. Among laid-off workers, minorities, in particular, faced great financial management hurdles. For many, obtaining a loan to purchase a car or home is not feasible. The Consumer Finance Protection Bureau (CFPB) has reported that 1 out of 5 adults are "credit invisible" and cannot qualify for a loan, despite regularly making rent or utility payments.

Nearly 106 million U.S. consumers are unable to secure credit at mainstream rates either because they're credit invisible or lack a credit score that typically enables access.

The Fed has revealed that almost 50% of credit applicants in 2021 with an income below $50,000 were either denied or given less than what they applied for, whereas only 13% of those earning above $100,000 experienced the same outcome. Consumers with no credit file or limited credit history are not necessarily riskier than those with extensive credit histories.

? Credit for All - The Reality

This holds true for the millions of U.S. immigrants that arrive without any credit identity, excluding them from everyday financial services — finding a home or even getting a mobile phone can prove impossible. Yet many immigrants have a credit history in their country of origin and valuable data that provides insights into creditworthiness.

People with lower credit scores pay higher APRs on loans reducing their cash flow for daily needs and perpetuating a low-income lifestyle.

? Bridging the Gap

This is where Zolve is bridging the gap - providing equitable access to credit to everyone, irrespective of where they are in their credit journey.

The chicken and egg problem of - you need a credit card (or any other credit product) to build credit. But you need good credit to get approved for credit products. How long will we give into this chicken & egg problem?

Zolve offers a host of custom-built credit products for people who're determined to build a good credit score.

? Build Credit the Smarter and Safer Way

The Azpire Credit Builder Card is the easiest way to climb up the credit score ladder. Simply add money, swipe your card on everyday expenses, and build credit with every transaction. Easy, right? It's pre-approved for everyone!

  • Zero annual fee
  • Zero security deposit
  • No credit checks
  • Apply with SSN, ITIN, or Passport
  • Earn up to 10% cash back
Upgrade to a High-limit Credit Card in just four months: In a few months, based on your payment history and a host of other factors, you may get upgraded to a high-limit unsecured credit card.

? A High-limit Upgrade

The Zolve Unsecured Credit Card is powered by Mastercard and can earn you up to 10% cash back and rewards on your favorite brands. You can get upgraded to this card from the Azpire Card based on good credit and repayment behavior. With a limit that goes up to $10,000, all your dreams are just a card away!

  • Zero application or annual fees
  • FDIC insured up to $250,000
  • Up to $10,000 credit limit
  • 5% cashback on five brands
  • 1% unlimited cashback
  • Up to 10% cash-back on 10k+ outlets

? Do a lot more than just swipe with a Zolve card

- International Money transfers

Zolve Remittances are the most convenient and inexpensive way to send money to loved ones around the world. With super competitive rates and faster speed than most providers, Zolve is the choice you should make.

- Renter's, Pet, Auto & Health insurance plans

At Zolve, we have a simple solution: personalized, curated plans across Renters, Pet, Health, and Auto - all under one platform. Each plan comes with the best possible coverage at prices that are guaranteed to be lower than standard rates and powered by trustworthy partners such as United Health Group, Stillwater, Toggle, Fetch, and more!

- Earn up to a 2% boost rate when you deposit your salary

Enjoy a bonus rate of up to 2%, which is 20 times higher than what significant banks offer in the U.S. by providing your Zolve account details to your organization, and we'll take care of the rest: We'll validate your salary deposit on our end and give your earnings a boost.

To apply for Zolve:

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The Azpire product is not supported by The Bank of Missouri.