tomo credit card reddit

What is up with this Tomo card I looked into decided to the pre-approval and they just sent me a card in the mail like I finished the app. This is basically a 1 cashback debit card although they say it works like a charge card so it just autodebits 1x monthly unless you are willing to market it to your friends and family to receive the up to 20 cash back based on referral bonuses.

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This card is ideal for those with no credit but have a good income and willing to pay their bills earlier than most credit cards.

. Not only does Tomo report to all 3 major credit bureaus but we are first card to offer expedited autopay including weekly bi-weekly and monthly payments. The international epicenter of entertainment and home. Because of that you can apply with no credit history and get a credit limit between 100 and 10000.

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. Tomo is one of the only cards to have no fees and offer 1 cashback. They launched their new 200 hotel credit perk July 1 or about -- my reservation was prepaid but fully refundable.

So seeing if anyone else has dealt with this card before. Not only does Tomo report to all 3 major credit bureaus but we are the first card to offer expedited weekly payments. Typically credit card companies make money from three things.

77 comments 95 Posted by u___ArtVandelay. 567k members in the LosAngeles community. 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.

Interest rate think of Capital one charging 10-30 APR 3. The card is plastic with a metal core and has a purple to red gradient. Interchange fee from merchants 2.

No foreign currency conversion fees. I have no idea. There are two potential drawbacks however when compared with the Tomo Card.

Earn Cashback Rewards that will put a smile on your face. The Tomo credit card offers credit lines from 100 to 10000. Always pay on time and watch your credit score grow.

You can have your credit frozen as they never do hard pulls. I canceled my reservation rebooked it to trigger the 200 credit and the 200 credit posted that week no big deal. 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 establish a credit history.

246 comments 174 Posted by 2 days ago. Always pay on time and watch your credit score grow They do report to all three credit bureaus. We all get those pesky codes for refer a friend programs but what happens for those of us who have.

Rewards Youll earn 1 cash back on every purchase you. For the past 6 months Ive been using it as a gas card and paying it off in full every month. Les derniers tweets de tomocredit.

With a charge card you have to pay the balance in full every month and you have up to 21 days after the statement date to pay off the full balance. Welcome Offer This card has no welcome offer or intro bonus which is standard among credit-building cards. The official subreddit of Los Angeles California.

Youre working for Tomo for a couple of dollars in cash back. It is a visa signature card with additional benefits like cell phone protection rental damage waiver etc Some branches can process applications as soon as June 25. However there are a few other things that you need to know.

The Tomo Card has no annual fee. Card Details and Features. The short answer to the question above is yes.

On the downside you cant carry your balance from month to month. We make money in clean simple way- interchange fee only 73 Continue this thread level 2. I opened an account with Discover on Dec.

Build your credit the smart way. Woke up this morning to my limit increased to 1800 and my security deposit coming back in the mail in the next couple of days. The Tomo credit card is also a charge card and you will have to pay off your balance in full every 7 days.

My apt charges 4 to use a debit card and each month Ill pay 800 via PayPal key which will back end to my BofA cashback card 45 on my online purchases category netting me 36 back each month. Now that I have a good thing going really excited for BofA to nerf this card when I least expect it. This means at least one bank account should be linked at all times.

Once again this is marketed as a credit card but its really a charge card. With this card you cannot and will never ever carry a balance. They dont have a costumer service chat nor email only way is to call at 877 825 3242 or send a letter.

I applied for a Tomo credit card I got approved for 250 my credit is not great I have a bunch of medical bills from the last two years with COVID. Tomo uses third party service providers including Finicity and Plaid to integrate various bank accounts across the United States. 13th and put down a 200 security deposit for my secured card.

Whenever you call they will give you a bunch of options WHICH DO NOT INCLUDE THE OPTION TO CANCEL. I wasnt 100 percent sold on the idea on this card anyway so now Im just like what do I do with this. Membership fees like Amex charging you 600 annual membership fee.

First as a secured card youll have to pony up a security deposit starting at a minimum of 200 to a potential maximum. HOW TO CANCEL A CREDIT ONE CARD Data Point Ive hard the hardest time cancelling my credit one credit card. Tomo does not charge 2 and 3.

435k members in the referralcodes community. I see today Amex clawed back the 200 promo.

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