You give us your banking history, employment information and estimated tax return information. We give you a credit card backed by money that’s already yours. As a result, you get really (like really) low rates. It’s that simple.*Reserve your spot
Unlike most credit cards that want you to pay interest, we want to help you avoid it. Use the Melt app to plan ahead and stay on track with payments to make sense of interest as it’s happening.
Annual fees, application fees, over-the-limit fees — you name it, we got rid of it.
Good credit makes you unstoppable. We’ll help you build your credit, make better decisions and acquire more assets. Stack that paper.
Melt’s mission to make credit accessible and reasonably priced for people with less credit history.
It works like any other credit card, but there’s a plot twist.
First, we need to verify your identity (let’s make sure it’s you, right?)
After that, you connect your primary bank account to Melt, tell us a little about your employment by connecting your payroll provider directly (if you can!) and we estimate your upcoming tax refund. We look into a combination of your credit score, regular income and withholdings, spending, savings, and tax return data to make a better decision about how much we can lend you. The majority of credit card companies will only consider your credit score which gives them an inaccurate view of your financial situation.
It could help you qualify for a better credit line, even if you've never had credit. It also allows us to keep the rates really low.
The short answer is yes and no.
A secured card requires an upfront deposit, usually 1-2 times the credit limit. They come with high-interest rates and fees. Due to their structure, they usually have low limits and, when you utilize more than 30% of your available limit, this can actually hurt your credit score. Finally, they have a limited impact on your credit score because credit bureaus know you’re lending the money to yourself.
With Melt, it’s the opposite. We use your upcoming tax return as a security, which means we are using not the money you have right now, but the money you’re going to get as collateral. There are no security deposits or hidden fees. Win-win!
Not quite! We’re hard at work building what we hope is the best credit card you’ve ever seen. Give us your email below and we’ll keep you posted on our progress. Follow us on social for more!
We'll let you know when Melt is available ASAP.
It won't be long, we promise!😉