1. Tomo Credit Card Review | $10,000 Credit Limit Exposed!
  3. Is the X1 Credit Card Better than the Tomo Credit Card? Or Are They Both Scams?
  4. Build Your Credit Score with The Tomo Mastercard
  5. Tomo Credit Card Review – No Credit Check Mastercard w/ No Fees, No Interest? Can Tomo Card deliver?
  6. Tomo Credit Card | No Credit Check | $10k Limits?!?
  7. WORST CARD EVER – With a high $99 annual fee | OppFi Card Review

Tomo Credit Card Review | $10,000 Credit Limit Exposed!

hey whats up yall its damian aka dang,hush with thanks for tuning in to my,channel and uh today were just gonna be,straight into it today you know um,i gotta i got something real real,special for yall you know oh like i,said were gonna get straight into it so,im gonna jump into my screen this is,for anybody out there,who uh,basically needs some money right now you,know need some money good credit back,play it doesnt matter none of that you,know maybe you need some money right now,and um,you actually need a weight i got you,this is what we talked about when,something too well make your money,invest the money how to get money all,kind of money you know i said its crazy,right now so youll know its uh,actually,six um,a.m in the morning right now mark you,know making this video for yall idiots,content so look make sure you do like,subscribe to this channel and uh you,dont miss any other videos alright so,basically lets go ahead and jump right,into the screen real quick,boom right here the tomo credit card yes,yes yes yes if you havent heard about,the tomo credit card the total credit,card has got to be exploded on the scene,right now for the simple fact that they,never pull your credit,they never pull your credit with this,credit card so you know a lot of people,are jumping on this card right now you,know for a small lot of credit big line,of credit 10 000 you know so basically,get up to ten thousand with this car so,lets just go through the website real,quick,um you know the total credit card the,credit card or tomorrow never pull your,credit you know you do come to the,website and again this is not even an,affiliate um link here you know i dont,get paid off for this one this is one,this is straight you know for the people,who are you know watching tuning in you,want to make some money real quickly you,know you need some cushion you need some,cash in your pocket you need a lot of,credit whatever this,you know this is for for you guys so,again,they never pull your credit no interest,or fees no credit has to be required,weekly auto pay so you know thats,definitely a dope thing and again you,know,the credit limit you can get up to,ten thousand dollar credit limit and,destroy interest rate no interest rate,no fees get the order auto pay all,weekly and the excellent thing about it,again here,is no minimum credit score so,no matter what your credit score is if,you really need a loan if you really,need a credit card or something like,that,they can help you and i suggest this for,people who actually have a plan a,strategy or maybe you just want to pay,out some bills or something like that,but you know this is an excellent,opportunity to use this credit card um,so you know maybe start investing you,know start your business or whatever it,is you may want to do so again im,recommending this to anybody,um whos looking to you know advance,as far as you know in business investing,anything like that so again up to ten,thousand dollar credit limit you know,no credit check to apply no fees none of,that so theres no so they basically,saying they approach credit differently,credit system today is outdated and,broken so we decided to take a whole new,approach to credit so theyre basically,giving people opportunity to get credit,you know so anyone and everyone no,credit score no problem you know so you,know this is definitely a uh,a good call to get with and again like,you never miss a payment build your,credit the small way and um they report,to all three major credit bureaus so,thats definitely a never,another dope thing because you want to,make sure that whoever youre dealing,with they report to the credit bureaus,that youre getting credit for you know,making your payments on time and with a,weekly oil pay lets just say he was to,take out a,5 000 limit or whatever,um,,pay 100 a week thats 50 payments you,know so thats,you know thats thats like you know,honestly you really think about it so,you just got to know how to use the,money make sure youre using it well you,if you do decide to get credit because,you know credit cards and things like,that because you dont want to play,games with these credit bureaus you,dont want to mess up your credit and,again you know this channel is all about,building credit establishing credit you,know investing making money all kind of,hustles inside house so this is just the,beginning but i just wanted to make sure,i get this video out to everybody whos,out there whos been watching and let,yall know that you know if you do need,a lot of credit you need a new credit,card tomo is definitely a,option you should look into you know,just to jump into,youtube real quick,as you can see here theres dozens its,dozens this doesnt know so you got a,tombow car,its its,so many people out there using this car,right now so again you know you can find,a lot of reviews on youtube about the,tomo card and uh just to jump back into,the website so again you know ill leave,the website linked below you know you,can definitely get get into as you can,see theres so many testimonials,um ten thousand people choose to finance,their time again this is so so powerful,and theyre just giving people the,opportunity to,actually advance their credit build,their credit you know you know,and even if you just like i said you,need a line of credit you need some,money right now to invest in your,business do what you got to do and you,know you definitely may want to check,tomorrow dont miss this video and if,you gain value from this video please,like and subscribe because i will be,having more videos like this giving,people more updates to try to keep,people informed though on ways you know,to uh get some money in a pocket and uh,you know just to have a little cushion,or whatever it is you know so and again,like i said on my channel we are,definitely gonna be talking definitely,gonna be talking about investing and,talking about credit so im building,your credit talk about business finance,and everything because those are the,things that you know definitely you know,interest me and like i said investing is,a big part of my um life so um ill,leave the links below to the platforms,that i invest in i do invest in multiple,platforms you know um so again,um if you need somebody to get started,investing you know just let me know i,can help you you know help you you know,get started obviously theres a lot of,ways to make money um you know even if,its a free way to make some money a,couple of hundred you know 50 bucks 20,bucks here but again theres some more,credit card right here apply for this,card if you need some,credit you need you trying to build your,credit working stable everything is good,everybody is turning you down or,whatever whatever,tomo is,actually approving a lot of people so,again the only thing required is you,need to have a bank account make sure,you do have a bank account and if you,have a bank of america a td or something,like that,the better you know because you will,have to connect your account to this,this platform um and like i said you,know like they say with the autoplay,theyre gonna order draft whatever um,fee i have set you know for a range for,your your credit limit or whatever yall,decide to go with so,again definitely check out tomotomo is,no joke a lot of people as you can see,going across the screen as an immigrant,hes also possibly access to credit tomo,was a huge help tomorrows better than,american express so these are actual,people who actually you know voucher for,tomorrow so again,im dropping this video for all those,who are looking for maybe a lot of,credit i havent came across anything,yeah you know you know apply for a lot,of things and you know definitely,i aint gonna say definitely but you,know that denial or whatever whatever so,this is something you could you utilize,add to your arsenal you know make sure,you use this responsibility if you are,approved or whatever as you can see,people they got the uh forbes living in,forks so again you know ju


one of the most important things in this,world is credit but i feel like the,credit cards they dont do a good job of,trying to help you build your credit,score so in this video were gonna be,talking about the tomo credit card and,how it can help you to build your credit,[Music],whats up im brandon young on this,channel i teach you how to make save and,invest money so if youre new here,consider subscribing and dont forget to,hit that bell so you dont miss a beat,in 2021 ive been seeing a lot of credit,cards like tomo that aim to help you as,a person and they personally arent,trying to come after you with interest,rates and all that they truly want to,see you be better so lets talk a little,bit about it now tomo is a credit card,that isnt traditional by any means,necessary it uses a seven day automatic,payment schedule as well as it reports,to all of the credit bureaus which is,awesome now tomo believes that you are,way more than a credit score which i,find to be great because sometimes we,dont know what people are going through,sometimes a credit score isnt the best,indicator of what type of customer that,theyll actually be so instead of them,actually using your credit score theyre,going to perform some individualized,assessments based off of your actual,bank account theyre going to just look,at some of your history see what you,spend your money on and they will,basically use that as an indicator of,how much of a credit limit that they,will give you i feel like this is a,better indicator of whether somebody is,going to pay you or not you get to get,an understanding of their type of,thinking when it comes to finances tomo,really strives to help you as a person,so the way they do this is they offer a,zero fee so theyre not gonna charge you,anything as well as they dont have any,interest rates so youre not really,getting hit with any type of prices,using this card which i find is another,thing thats awesome when it comes to,cash back youre not gonna get anything,too crazy youre only gonna get about,one percent which seems pretty standard,a lot of credit cards they might offer,you know maybe half but yeah one percent,seems to be the standard and they use a,customizable credit limit based,application so your credit limit will,basically fluctuate depending on your,financial history so that could be a,caveat it could be a bad thing but it,can also be a good thing because if,youre doing well with your card youre,doing what youre supposed to do,ultimately your credit limit can go up,but the highest credit limit you can,have is ten thousand dollars and the,lowest being about a hundred dollars so,keep that in mind so you may have a,couple of questions regarding the tomo,card so lets clear some things up like,i said this isnt a card that youre,gonna be able to pay off every single,month the payment period is going to be,every week it starts monday and ends,that following monday so all your debts,that you have for that week is,consolidated into the one week and there,will be a auto pay basically that will,make it pay for itself on the following,monday now you arent able to carry a,balance so for whatever reason if you,arent able to pay off the full balance,your card will freeze until you are able,to pay off the ballots now if you do,decide to sign up for this card it does,take between seven to ten business days,for you to get your card so please be,patient and once you get your card you,will be able to activate the card,through the tomo app dashboard i know,one of the biggest questions you may,have is okay so they dont charge fees,they dont charge interest rates so how,exactly is tomo making their money,because they aint making their money,off of me so they make their money from,merchant fees so anytime you swipe your,card at a store the merchant essentially,pays them directly so you dont have to,worry about paying for any fees or for,any interest rates anything like that,which is like kind of the first time,weve ever been seeing that because we,often dont see it that often what are,my thoughts all in all i love credit,card companies that try to help the,consumer yes its up to us to make good,financial decisions to help our credit,score but when credit card companies can,put us in a position to make things,seamless and easy help you to structure,things to make your credit utilization,lower and help you with your payments to,make them timely its a great thing,seems like tomo really wants to help you,out because credit card companies are,notoriously known for charging you high,interest rates a bunch of fees and tomo,isnt charging you anything theyre,pretty much getting all their money from,the merchants so if you think about it i,feel like more than likely they really,want to see you succeed theyre not like,other credit card companies,i think the only downside to this is you,not having that high credit limit and,you cant really go into it knowing,exactly what type of credit limit youre,gonna have i mean you can always assume,that since youre a good person you may,be good with finances that you will have,a high credit limit but,you know,you cant really tell its always going,to be up to them to determine it and im,guessing through their structure it can,fluctuate up and down based off of how,youre doing with your finances but all,in all i would get started with tomo if,you are interested be sure to go and,check my link in the bio so you can go,ahead and get started if you found this,video helpful be sure to go and give a,like go subscribe to my channel for more,content like this im brandon young and,ill see you in my next video peace,[Music]

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Is the X1 Credit Card Better than the Tomo Credit Card? Or Are They Both Scams?

there are all these new companies coming,out with credit cards most of them are,startups and a lot of them dont even,have an issuing bank which you need,for a credit card do startups make,better credit cards though than big,names like city,american express or chase is the tomo,card worth it when you could try for the,x1 card or even the apple card,welcome back to the channel im jacob,fischer and its monday so were talking,about,credit cards specifically the x1 and,tomo card and whether or not they are,worth it for you to get,both of these cards are targeted towards,individuals who might be,building their credit or hopefully just,starting out in the credit,world they dont even check your credit,score when you apply for it,really quick if you dont know what each,card provides you then i will,tell you that starting out with the tomo,card this card provides you with a way,to,build your credit score without having a,credit history with,no fees and zero percent apr they also,give you one percent cash back and up to,two percent cash back if you,participate in their referral program i,personally cannot find any information,out there if the credit card,is available for you to receive yet,i went through the sign up process and,only to discover that they would send my,actual application,later on which i dont expect to see,anytime soon,so we have two percent cash back and a,card to build your credit score with the,tomah credit card and a card that i,dont,know if you can get right now moving on,to the x1 credit card they focused,more on privacy and user experience than,other cards out there meaning they have,features,like end free trials automatically with,virtual credit cards,similar to the apple card and how it can,change numbers very easily,spending anonymously and cancel,subscriptions in one click,like you wouldnt have to go to the,merchant to cancel subscriptions,you could just do it right there in the,app the,limit is based off your income and you,earn two x points on every dollar you,spend,if you spend above fifteen thousand,dollars and you earn three x points,which,is honestly pretty good you can also,unlock four x points if you invite,people to get the card and they,do in fact get it the points are not,straight cash back though and you,can redeem them with these brands,thatll pop up on the screen right now,so you get two x points in your,purchases and then redeem them for cash,back if you spend money at one of these,merchants this one is a metal credit,card because i guess,everything needs to be metal now only,time will tell,which metal card is the best or if there,are better,plastic credit cards oh oh thats,actually a video next week so,subscribe for that one if you really,want to anyways lets get into whether,or not you should apply for,these credit cards right so if you,wanted to apply for these credit cards,yeah go ahead and do it they dont even,check your credit report they dont ding,your credit score,the only thing you have to keep in mind,is that if you wanted to be under,chases 5 to 24,rule they do a count in that role,so you cant have five credit cards open,within the last,24 months so if you know you want to,stay under that then you should not,apply for these cards though,it might not matter too much as far as,points earning goes they really,arent that bad decent with the x1,credit card with a,base sort of 2 back compared to the,one percent on the tomo credit card the,thing with these credit cards is that,they just might never see the light of,day,its entirely possible that neither card,ever gets released,and the x1 seems more likely to not,be released because they dont even have,that issuing bank thats required for,credit cards,but thats not to say that tomo credit,card has a higher chance of being,released tomo credit card did a reddit,ama,a little while ago thatll link down,below and pretty much it was just people,roasting the ceo about how theyre going,to fail they arent going to make money,and lots of questions on whether or not,they sell the data,about users to other larger corporations,again thatll be down below for your,viewing pleasure,they also said in there theyll be,planning to launch in,august and well its october right now,but i dont see anybody using this tomo,credit card,maybe they meant august 2021. tomo was,reported to be a charge card as well but,now they advertise everything as a,credit card so its a little bit,confusing as to what it,actually is thats at least what i found,out online,they also originally touted having up to,20,back absolutely unheard of which is what,got a lot of people interested at first,im sure,but they changed that to a max of two,percent cash back so i think they might,be running into some issues with their,business and model,and they wont be able to make any money,i pretty much just dont expect this car,to come to the market call me cynical i,dont mind but i really dont see either,of these credit cards coming out id,like them to come out because a card,like tomorrow the x1 card could,really help people build their credit if,theyre just starting out,the and credit card could also easily,replace the apple cart in my wallet for,the,card that i dont really use in my,wallet because its all,digital but with their privacy measures,that they even fact i,i kind of like the idea behind the cart,but,well see if they come out if i had to,choose one card to get it would,definitely be,that x1 because its more about the,privacy and you do earn,two percent cash back on your purchases,that you can use for certain,companies it just has better reward,potential overall,should be a solid car definitely solid,physically it is made out of metal but,lets see if it comes out again i dont,know,let me know your thoughts in the,comments below and whether or not you,think,these cards are going to come out or if,theyre just not going to i upload,videos on monday wednesday and friday on,travel and finance,if that sounds like or something,interesting to you make sure you,subscribe,down below thank you so much for,watching and until next time,[Music],you

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Build Your Credit Score with The Tomo Mastercard

they are offering 20% cashback they were,gonna lose a lot of money on this,welcome back Dan here and were going,over the Tomo credit card tomo credit,card is the only credit card you can get,without having a credit history,basically they base your approval on how,much money youre making,how much disposable income you have best,of all they are offering 20% cashback,all right clarification up to 20% cash,back you actually get 1% cash back on,everything which is pretty good for a,credit card that does not require you to,have any credit history yeah it sounds,crazy though right they are really,changing the system and it doesnt make,any sense that they dont have any fees,so I looked into it and it turns out,Tomo credit card is really a charge card,well go over all the tombow credit card,details and how this system works and,how you can get 20% back so the 20% back,was the biggest incentive for me to look,into this because I thought it was a,typo I was like oh yeah its probably a,2% back on everything card which isnt,that uncommon they have that with PayPal,which is issued by synchrony Bank and,thats pretty easy to get approved for,but this is 20% which is insane,theyre gonna lose a lot of money on,this if the manufacturers spend,community finds out about it as for me,if I get 20% back Im gonna see the full,limits of my manufactured spending,skills where I just buy things with a,credit card and trim those things I,bought back into cash so basically Im,trying to profit off that 20 percent,cash back which is very common for a lot,of manufactured spenders this could,actually be a full-time job,although the limitation to the 20% cash,back is that its a bonus based on the,referral system and you can only have,that for up to three months to get the,20% cash back,youre gonna have to refer people and,its based on each person you refer you,get 1% so you start off with 1% you need,to refer,teen people to get your cash back up to,20% anytime you have a new product,people will find every way to take,advantage of it,legally until those terms are set so for,now I would say get ready for the Tomo,credit card and sign up,oh its actually hold on Im talking,this this video is for people starting,off their credit card kearney and this,video is also for people who like free,money,20% back right I know its referral,system based and that is a great way to,market it because youre gonna be,pushing this card on other people and,theyre going to really blow up like,this is the fastest way to grow a,company through referral systems thats,how like uber really picked up and,everyone was referring over at the time,I got a funny story for you I was even,referring people to burr but those,people were me back in the day uber you,could actually make multiple accounts,refer yourself create a voice over IP,phone number to get the text messages,for new accounts you could use your,Gmail address to set up multiple,accounts on it say its Dan at gmail.com,that its Dan plus one Dan plus two Dan,plus three like Im not creating,multiple email addresses Im just saying,you add the plus side one plus side too,and it counts as another email address,with Gmail that is a really fun too,that you have just learned youre,welcome and if that was actually helpful,to you or if you knew about it and,forgot please hit the like button so,more people can see this video and enjoy,that tip the tomo credit card has no,fees theres no annual fee theres no,maintenance fees and thats crazy for a,credit card which requires no credit,history typically people with no credit,history have to turn to subprime lenders,which are the lower tier credit card,banks and they rip you off and charge,you a bunch of bees and it takes you a,long time,your credit score with Tomo credit you,dont need any credit history you just,need to have money to be able to pay off,the credit card now even though they say,its a credit card its not its a,charge card you cannot keep a balance on,the Tomo credit card and you have to pay,the balance in full every month if Tomo,credit has no fees how does it make,money through interchange fees these,interchange fees are the merchant fees,whenever you make a transaction every,time you make a purchase Tomo credit,makes 2.9%,on that transaction which is a lot of,money because that hurts the small,business so thats why small businesses,have to charge like 2.9 percent more on,top of their current pricing to balance,out the credit card fees so it doesnt,make sense to pay in cash or with a,debit card because with a credit card,and cashback youll be gaining money and,if youre paying in cash or with a debit,card youll be losing money because,youre getting charged that extra 2.9%,interchange fee that they have tacked on,to their prices now were going to take,a look at the FA cues for the Tomo card,and then were gonna walk through the,application process okay the card what,is to mo card here at Elmo we know you,are not just as credit score thats why,we created Tomo which tackles the flaws,of the everyday credit card whether it,be the 20 percent cashback,no credit history no credit history,required or no fees Toma card is for,anyone looking to take advantage of its,amazing perks Im somebody and I love,amazing perks and I am going to take,advantage what type of card is Tomo,although your Tomo card may say debit,its actually a charge card,this means payments must be made within,twenty to one days of each statement so,yeah even though they say credit card,its a charge card its gonna say debit,on the card and you have to pay the,balance in full every month,now the thing is since it is a charge,card it is in the credit card category,so you will build up your credit,anytime you get a statement balanced,with a bank thats a credit card they,report it to the credit bureaus after,each statement date so they want to so,theyll report if the payment was on,time or if it was late theyll report,the available credit limit and theyll,report the age of the credit line these,are the three factors that help build,your credit score so if you have no,credit history this is a great way to,start why should I use my tongue instead,of my debit card with so low you are,essentially getting up to 20% discount,on all your purchases not only that,were helping you build your credit,score what does your debit card do for,you exactly our point basically there,are trying to get more people to use,their card and theyre incentivizing,with this being cashback promotion,because its the cost of their customer,acquisition and in the long term theyre,going to build up their customer base,basically every year theres like 20,million Americans that are just getting,out of college and they have no credit,history they are targeting that 20,million audience which will be very,lucrative because theyll probably use,this card for years,how much does Tomo card cost and are,there any fees nothing now nothing ever,thats because its a charge card at the,end of your statement date if you cannot,afford to pay off your balance they,there will be fees there will be a lot,of fees but theyre just saying there,arent any fees because if you follow,the rules and pay off the charge card,they cant charge you any fees so lets,lets clear that up right now,where can I use my card our card holders,can use their cards online as well as,with millions of merchants across 200,countries where MasterCard is accepted,so on the front page of the website they,did not say that there are no foreign,exchange fees very clearly they said,there are no fees but now that it,specifies thats really good so the Tomo,card has no foreign exchange fees while,applying affect my credit score know,whether your Tomo application was,approved or rejected it will never,affect your,lets go this is great news because if,you apply for a credit card thats an,inquiry on your credit report and that,dings your credit score thats why you,should not apply for a bunch of credit,cards and responsibly you have to make,sure you hav

Tomo Credit Card Review – No Credit Check Mastercard w/ No Fees, No Interest? Can Tomo Card deliver?

hey im adam jusko from proudmoney.com,in this video im going to review the,tomo credit card a no credit,check card that im a little skeptical,of and ill tell you why but first im,going to ask you to please subscribe to,this youtube channel if you have not,already and if you have already i thank,you for doing so,so this tomo credit card has been,around for a little while i actually,first heard about it,maybe back in september october of last,year i havent done a video on it before,because,it just seemed like they were kind of,trying to figure some stuff out with,this card it has been changing a lot,it came up this week because credit,shifu just did a,video about it and i think thats why,people are have been asking me as well,so im going to give you my take,so the sort of too long didnt watch,take,on it is that i think that this is a,good,idea in terms of what they are trying to,accomplish with this card,but im highly skeptical right now of,their ability to actually,execute on the idea and give you the,card that they are talking about,on their website and their other,marketing materials so the promise of,tomo card is,a credit card without a credit check the,company,having the ability to look at your other,financial information,instead of your credit report and credit,score in order to determine,if you should be approved and how much,money you should get,the card itself or the company itself,was founded by,a woman that came to this country,and found herself having difficulty,getting,credit even though she had you know,degrees from,prestigious universities and had a,full-time job still could not,get credit and so in that way its a,card that is,similar to the jasper mastercard which i,have uh,talked about in another video and which,im actually a little more positive,about than this card because that card,seems like it is,further down the road in terms of,actually accomplishing what it sets out,to do but anyway thats sort of the idea,its difficult to get credit,for many people if they dont have a,credit history if they dont have,something established here,in this country so this card would allow,you to get a card without a credit check,so in order to potentially be approved,for a tomo card,mastercard you would have to give tomo,the ability to check out your bank,account basically to see what your cash,flow looks like how much money you have,how much is,going in and out and they do that,through a third-party service,called plaid and plaid actually works,with a lot of other these,of these smaller fintech banking,companies to,basically give them access to your bank,account but plaid is the one that,actually has your login credentials and,they sort of,share that information so the tomo in,this case would not actually,have access directly to your bank,account although plaid to some extent,would so theyre sort of the middleman,their plan but anyway they would want to,see your bank account to see what is,going on,there and then of course they would want,to know about your income and other,things of that nature in order to,approve you,if you are approved you would get a card,that would have a credit line anywhere,from only one hundred dollars all the,way up to ten thousand dollars,and again no credit check involved,theyre not going to any of the three,major credit reporting bureaus for,information on you,theyre looking at your income theyre,looking at what goes on in whatever bank,account information,that you give them and maybe theres,some other third party information that,they would look at as well,but mostly income and your bank account,now its important to understand how,payments are made on this card because,tomo makes a big deal about this card,having no fees and,no interest and the reason that is true,is because this card is actually,a charge card it has to be paid off in,full every month so theres no,interest rate to go on revolving,balances because there are no revolving,balances and in order to,make that happen they are going to,automatically withdraw from your bank,account,to pay off your credit card each month,there is a rewards aspect to the tomo,card and the rewards formula has shifted,all over the place since this card,was first introduced as a concept last,year so when it first,started they were talking about 20 in,crypto rewards so youre gonna get 20,on every purchase you made in,cryptocurrency the cryptocurrency,is now out the window it is cash back,youre gonna get one percent,on everything that you buy with the card,but you can boost it up,to two percent if you refer to other,people to the card,who get approved now you can refer those,two people to get up to two percent this,year but the next year youre gonna have,to refer another two people,to stay at two percent so theres an,ongoing job that you have here if you,want to get,that full two percent cash back now,while theres no credit check to get,this card tomo does,say that it can help you to build your,credit once you have the card however,their marketing materials are very vague,in terms of how that actually is done,they dont talk about reporting to any,of the major credit reporting bureaus,and instead they actually talk about you,doing uh,weekly or bi-weekly or monthly payments,that you have this choice and it sort of,sounds like they would,report multiple times a month,potentially which doesnt really make,a whole lot of sense so i dont really,know what theyre getting at there i,assume over time they would start,reporting to the major credit reporting,bureaus but the language they use on,their website definitely,does not suggest that that part has been,nailed down now like so many of these,fintech financial technology startups,tomo is not actually a bank so they have,to work with others in order to actually,make,all of this happen and they have a,partnership that they say is with,synapse financial,and evolve bank and trust so somehow,between those three entities that is how,the whole thing comes together in terms,of getting you,a credit card now a lot of what i just,talked about sounds good on the surface,no credit check a one percent to two,percent reward,the possibility to build your credit,even if you didnt have a,credit history however there are a lot,of red flags with this card there are a,lot of things over the sort of evolution,in the past,year that make me wonder just how much,tomo has nailed down and how much of it,is still,sort of them flying by the seat of their,pants and whether they really can,execute on the things theyre saying the,card is going to offer,and ill give you some examples so i,just told you that when tomo first came,out they were talking about a 20,crypto reward and then that went away a,few months later,they were talking about a 20 reward if,you,referred 20 people to the card well that,math does not work out so somewhere,along the line they must have realized,you cannot give a 20,reward at all profitably so that has,gone away and now they are to the,one percent maybe two percent reward if,you refer to people,and then speaking of math you might,wonder how tomo is planning on making,any money when there are no fees and,there is,no interest and the way they are going,to make money,is through merchant fees so every time,you use your credit card theres a small,fee that the retailer or whatever,merchant pays in order,to be able to take that credit card so,you accept credit cards and you know,youre gonna have to pay a little bit,its usually,two to three percent per transaction,some piece of that,ends up in tomos pocket they pay you at,least one percent of it,on the cash back front maybe two percent,and then they take whatever is left over,well thats kind of a small sliver,of the overall sale which means they,have to turn over,a lot of transactions are going to have,an awful lot of card holders and a lot,of transactions,every year in order for the company to,make enough money to function,in the way that they say it is going to,function and i think they have not done,th

Tomo Credit Card | No Credit Check | $10k Limits?!?

whats up yall tommy here so today what,im going to be doing is im going to be,reviewing the,tomo credit card which is a no credit,check,credit card that has given credit lines,as large as 10k,okay so thats something that interests,you be sure you stay tuned,all right yall so right off the bat,what is the tomo credit card,so basically its a new card started by,a fintech company,right a lot of these fintech companies,what theyre starting to do is,theyre starting to look for different,types of methods to underwrite these,cards right theyre not really going,through the,normal means where they pull your credit,report or pour your credit score and,then they use that to base whether they,should approve you or not,theyre actually this company is using,different methods which i think,the actual main method that theyre,using is is that,theyre actually going about you know,more than likely linking to your bank,account and seeing,based off of your your bank activity how,much that they should lend out to you,okay now i do want you to keep in mind,this is more a,more of a charge card than anything,right and the reason why i bring that up,is because with charge cards,you technically have to pay these back,by the end of the month,okay and thats really a key,point that you want to make sure that,you understand is that you only want to,put expenses on this card that you know,you can pay down by the end of the month,okay,so just keep that in mind now the,benefits of this card is,they do have a they do no credit checks,so you know,again theyre just going to use your,banking history and based off of that,theyre going to decide how much credit,to extend to you,right they have no annual fees so youre,not paying any type of recurring fees,off of these guys,they have no apr okay now this is,uh it is huge to have no apr but because,um you know because they have theyre uh,operating as a charge card it makes,sense because you know youre not gonna,be carrying over a balance at all right,uh and you know what i found is it looks,like theyre making,most of their money in case youre,wondering how they make money and thats,kind of what i was trying to teach you,guys is,i always try to figure out how the,companys making money right,i think theres nothing wrong with the,company charging you for their services,theres nothing wrong with a company,making money off of you,as long as you have uh you benefit from,it right,you know everyone knows that you know,facebook is one of the biggest companies,in the world right,and most people dont you know even,though they know that they know facebook,makes a lot of money,they might not mind that facebook is,making money by showing advertisements,uh to them while theyre you know,scrolling through and keeping in contact,with their friends and things like that,right,some people might so whenever you,understand how a companys making money,right and how whether thats benefiting,you or,whether that aligns with what your your,goals are,or what your objectives are then thats,whenever you can make a better decision,right a more informed decision,so these guys when it comes to how they,make money they make money from,interchange fees,right so credit card interchange fees,basically what that means is whenever,you,are going and you know you swipe your,card at um,you know at a store or something or,youre typing in your credit card,information online,the person the retailer that actually,takes your,credit card or charges your credit card,they pay a fee right,and they pay a fee to the credit card,the actual credit card themselves,whether its like visa mastercard,whoever it is,and part of that money is uh or that,that thing is called interchange fee but,part of that money,is going to go back to this bank right,so this this banks going to get a cut,of it,now uh i now dive deeper into,this section uh later but i want,im going to kind of explain my thought,process on whether thats a good thing,or not,okay so ill touch on that here in a,little bit but on top of that they also,do report to,the credit bureaus you know theyre,going to report both your credit limit,and your pay history,which is also another great benefit now,these guys,uh one thing thats really interesting,is,i actually saw that it looks like the,owner or the ceo,of this company actually did a ask me,anything on reddit,if you guys havent heard of that before,theres a group on reddit where you know,if youre,uh pretty much anybody right if you do,something interesting you can,you know basically put a post on this,specific reddit group,where once you put that post you just,say hey im a,im an astronaut ask me anything right,people just you know,they find that interesting theyre gonna,ask you questions about your job or,whatever it is youre associated with,right,and so she did once saying you know i,just started a fintech company asked me,anything,and people were kind of asking her,questions about the card and thats kind,of where i got a little bit of these,other pieces of information as well now,my thoughts whenever i was kind of,hearing her talk is,thats kind of when i heard about the,whole thing with the interchange fees,um you know its,whenever you kind of look at it theyre,not making that much money from the,interchange fees,okay and i think thats kind of one,thing that made me,a little uh nervous was you know at the,end of the day,i think its important that you know how,a company makes money and,this company is making money from,interchange fees but it doesnt,it doesnt make sense and and what i,mean by that is,they need to have you know its a,fintech company right so they need to,have more money coming in,and it only makes sense to me that,theyre going to have to find other,revenue streams okay and thats probably,the more,the the part of it that makes me a,little nervous is how what are those,revenue streams going to be,will it be a situation where they start,charging annual fees uh are they,charging,like where is the money going to come,from right are they going to get that,money specifically from,the the card owner the owner of the card,so like if i have a card are they going,to be charging me somehow,either a monthly fee or what is it right,like where is the money going to come,from,and thats probably the part that makes,me the most nervous you know besides,that,i mean it seems like its just kind of,you know your basic,fintech credit card i think a lot of,these fintech companies are kind of all,doing the same thing,right theyre kind of starting a credit,card and,um positioning the cr like starting a,credit card and just positioning it as,we dont check your credit and uh were,gonna find other means to decide whether,its,its worth it for us to give you a line,or not right and of course theyre going,to do it with your banking activity,which makes great sense right i think,whoever,first started that trend it made perfect,sense but when,like i would much prefer having a,you know i think theyre better than a,security card because you dont have to,you know you dont put down an amount,right and youre able to use that card,and build credit at the same time,but i think theyre not better than,secured cards,with a graduation track and heres my,thought process on that and ill explain,that here more,okay and now ive shot a video on uh the,best uh secured cards and ill link to,that video down below,but in that video basically what i,talked about was that the best,secured credit cards are the ones that,have something called a graduation track,where at you know after a certain period,of time of you having that card and,making on time payments and everything,like that they graduate you,to their lower tier or the the you know,the first tier,uh unsecured card so typically what,happens is lets say for example that,you have unsecured card and,its been 12 months or something or 10,months theyre going to reevaluate your,uh your account and then if they upgrade,you theyre going to send you back your,deposit and theyre going

WORST CARD EVER – With a high $99 annual fee | OppFi Card Review

op fi credit card the op fi card is,among the most atrocious credit cards,weve ever reviewed with a high 99,annual fee and ridiculously high 35.99,fixed standard APR the card offers no,rewards and hardly any benefits,we do not recommend applying for this,card even among those whose credit,leaves them with few other options wed,still recommend exhausting those other,options both non-credit card financing,products and the best cards for those,with four credit,Pros no deposit required mobile and,online banking features no impact to,credit score during application,cons 99 annual fee two percent of each,transaction in US Dollars foreign,transaction fee,High 35.99 fixed standard APR,the opt fi card purchased among the most,vulturist exploitative cards weve seen,we understand unsecured lending to the,least creditworthy consumers poses risk,for lenders,lenders are often said to charge fees,and raise aprs to offset higher risks,but with rates like the 35.99 fixed,standard APR this card offers were,skeptical this card is a good idea for,anyone,for many carrying a balance is,unavoidable so paying attention to a,cards APR remains an important,consideration,High interest borrowing risks trapping,consumers in debt and should be a last,resort for anyone in need of unsecured,funding,we recommend exploring home equity lines,of credit or other types of secured,borrowing before moving on to personal,loans and then credit cards credit card,aprs are notoriously high and are,therefore not generally the best option,for borrowing money,it is financially healthier to use,credit cards as tools for convenience,and credit building not as primary,financing tools you should also know,that even though the card says it offers,a maximum credit line of one thousand,dollars the true amount of your limit,when you open the account will be 901 as,the 99 will immediately eat into your,available credit,if you need a revolving credit product,with a one thousand dollars credit line,but are faced with few options because,of poorer credit we advise working,toward building credit using a secured,card,then once your credit has improved apply,for an unsecured card without an annual,fee and without egregious standard aprs,when none of these options are possible,only then consider a product like the op,fi card,if you do apply for the op fi card,create a plan to ensure you wont be,trapped in a vicious cycle of debt op fi,card benefits mobile and online banking,convenience of the click with alerts and,account monitoring via phone or computer,tap to pay card holders can use chip,enabled cards to avoid inserting or,swiping at the register,card freeze prevent transactions from,being approved by turning your card on,and off,interest rates regular APR,35.99 fixed,purchase intro APR offer,35.99 fixed APR on purchases,fees annual fee 99,balance transfer fees not applicable,cash advance fees five dollars or five,percent of the amount of each cash,advance whichever is greater foreign,transaction fees two percent of each,transaction in US dollars

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