Best Fintech Credit Cards

Are you looking for the best fintech credit cards? With so many options available, it can be difficult to choose the right card for your needs. 

Fortunately, we have done the research and found the best fintech credit cards on the market. 

In this blog post, we will explore the features and benefits of each card and help you decide which one is right for you. 

So, read on to find out more about these amazing cards!

What are Fintech credit cards?

Fintech is the combination of the following: 

• Traditional financial products such as loans, bank accounts, insurance and 
• New technology, such as a better cash-back rewards program or a new way to approve people for credit.

Fintech cards generally refer to any new credit or debit card not issued by a traditional bank.

How fintech cards work

It is important to note that these fintech firms are not banks in and of themselves. Rather, they collaborate with banks to act as a go-between. So, suppose you use Fintech Company A’s credit card to buy something. The money comes from a bank somewhere else, complete with FDIC insurance.

It works the same way if you have a cash management account with a debit card. When you make a deposit with Fintech Company C, the funds are automatically transferred to another bank account. When you use a fintech debit card, the funds are drawn from an FDIC-insured account. The fintech firm is essentially just an interface.

In this sense, fintech cards are just fancy ways to pay for things from a regular bank account elsewhere.

The best fintech credit cards

• Self Visa® Credit Card

If you have no or bad credit, Self Visa® Credit Card, which is a secured card, can help you start building credit. Unlike traditional secured cards, which require a deposit and an application before consideration, Self requires you to take a detour.

To obtain the Self Visa® Credit Card, you must first create a Self Credit Builder Account. This is a secured credit building loan funded by one of Self’s partners. It is held in an interest-bearing CD, 

After opening a Self Credit Builder account, you are eligible for the Self Visa® Credit Card if you make your monthly required payments in full and on time for three consecutive months and have accrued at least $100 in payments in your credit builder account.

The good news is that no credit check, application, or additional deposit is required. The company has already secured your funds in your Self Credit Builder account. 

Your on-time credit builder payments will be reported to all three major credit bureaus, potentially increasing your credit score. However, the Self Visa Card has a $25 annual fee. And, if you select the smallest monthly payment option, you’ll have to wait until you’ve accumulated the required $100 in your account to be eligible.

Unless your credit is non-existent or so bad, you’d better skip some of these confusing steps and apply for a no-annual-fee secured card. This card offers rewards or other perks and allows you to immediately make a higher deposit to get a higher limit.

Pros

• Get the credit-building savings plan today.
• Begin with a Credit Builder Account, which sends monthly payments to all three major credit bureaus.
• To begin, no credit score is required.
• Your money is safe and secure in a bank account.

Cons

• An annual fee is charged.
• It can be challenging to decide on a credit builder plan.
• Those with some credit may fare better with a secured card.

• SoFi Credit Card

The SoFi credit card joins several others that offer unlimited 2% back on purchases. They can be redeemed as cash back to an eligible SoFi account or in other ways. 

The card does an excellent job of avoiding fine print. To begin with, there are no purchase category restrictions or cash-out minimums. There are no annual fees or foreign transaction fees with this card. For customers who prefer to set it and forget it, this is an easy card to keep in their wallet.

The card’s main selling point is its convenience. SoFi is one of the few platforms that allow you to host your banking, investment, loan, and now credit card all in one place. Users who sign up for all of SoFi’s accounts can manage their finances in one place. Thanks to SoFi’s user-friendly website and app.

Pros

• When redeemed into an eligible SoFi account, the rewards rate is excellent.
• No annual fee
• No foreign transaction fee

Cons

• For the best value, redeem rewards into an eligible SoFi account.

• Divvy Credit Card

The Divvy Business Card, with its unique rewards program that rewards you with extra points when you pay off your bill more than once per month, could be a solid rewards option for small-business owners. Those who like to keep track of their balances and are interested in using rewards for travel.

Suppose you pay off your charges in full each week. In that case, the Divvy Business Card could be one of the best no-fee business credit cards available. With impressive rewards rates and several practical perks that make tracking spending and setting employee budgets a breeze.

As a charge card, it provides little payment flexibility, its rewards rates fall short if you can only pay your bill once per month, and Divvy point values for non-travel redemptions are low.

Suppose you can consistently pay off your bill on a weekly basis. In that case, the card’s bonus categories are a good fit for your spending habits, and intend to only redeem for travel. The Divvy Business card could provide excellent value. But that may be a few too many “ifs” for the average small-business owner.

Pros

• If you pay off your bill more than once per month, you can earn fantastic rewards.
• There is no annual fee. So, you won’t have to worry about compensating for card costs with rewards.
• There is no need for a personal guarantee or a hard credit check.
• Excellent benefits for tracking and allocating employee spending.
• A wide range of credit limits is available depending on the size of your business.

Cons

• If you only pay off your bill once a month, the rewards rate is unimpressive.
• Charge cards provide little payment flexibility, requiring you to pay your balance in full each month.
• The Divvy Business Card does not have a sign-up bonus, which limits its short-term appeal.
• You can only redeem rewards for their full value if you book travel directly through Divvy; other redemption options require you to give up roughly half of your point value.

Conclusion

In today’s digital world, fintech credit cards are becoming increasingly popular. With all the different options available, it can be hard to decide which card is best for you. 

To help make the decision easier, we have reviewed some of the best fintech credit cards on the market. From rewards programs to low-interest rates and sign-up bonuses, we’ve got you covered. Read on to find out which card is right for you!