Benefits of this credit card:
- Up to $30,000 credit limit;
- No interest charges;
- Expedited autopay including weekly, bi-weekly, and monthly payments;
- No security deposit;
- No credit check or credit history required;
- Reports to all 3 major credit bureaus.
More about the benefits of the Tomo credit card
The primary difference between Tomo and other cards is that it doesn’t charge any interest fees. Tomo is an exciting credit builder that is designed to help you build or increase your credit score!
If you’re comfortable with the weekly payments and linking your bank accounts to get a higher credit limit, this rewards card should be at the top of your list.
Why do we recommend the Tomo credit card?
If you’re just learning about building credit, the Tomo credit card can be a great starting place — and more accessible than many other credit cards. This card is also a good option if you’re not a U.S. citizen, don’t yet have a credit history in the U.S., and are looking to start building your credit. Unlike a lot of cards that target a similar audience, there’s no security deposit, or even APR charges.
Also unlike traditional credit card issuers — which usually conduct a hard inquiry when reviewing your application — TomoCredit never runs a credit check. Instead, the company’s proprietary technology can weigh many data points, a key few being your income (or income potential) and your account balances. The bank that issues the card, New York-based Community Federal Savings Bank, uses this data to determine whether you’re a good candidate for the card.
Who can apply for this credit card?
The eligibility criteria:
- You can apply for the Tomo Credit Card if you’re 18 years old and have a Social Security Number (SSN) or an Individual Taxpayer Identification Number (ITIN).
- Non-U.S. citizens can apply as long as they have one of the above numbers and a government-issued ID. In addition, your travel passport can be a qualifying document. There are no credit history requirements, but you must link at least one bank account to determine your credit limit.
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