Green Dot Launches a Visa Credit Card to Help Consumers Build a Better Credit History
September 29 2016 - 8:30AM
Business Wire
Green Dot Corporation (NYSE:GDOT) today announced the launch of
the Green Dot Platinum Visa Secured Credit Card, a secured credit
card that is designed to help people with no prior credit history
or those with poor credit scores build a positive credit history.
Since the card's credit line is backed by the customer's own
security deposit held at Green Dot Bank, most anyone can apply and
be approved for the card. No bank account is required to qualify.
The customer's payment performance will be reported to the three
major credit bureaus, which, with good payment performance, can
help cardholders build a better credit history over time.
The Center for Financial Services Innovation (CFSI) estimates
that approximately 108 million Americans do not have credit scores
or have low scores that stand in the way of accessing affordable
credit.[1]
“The Green Dot Platinum Visa Secured Credit Card is just another
way Green Dot Bank is helping to open the door to financial
inclusion for millions of low and moderate income Americans,” said
Lew Goodwin, President of Green Dot Bank.
Green Dot Platinum Visa Secured Credit Card customers can fund
their collateral security deposit with cash and make their monthly
payments at any of Green Dot's nearly 100,000 retail locations.
The Green Dot Platinum Visa Secured Credit Card’s features and
benefits include:
- Ability to pre-qualify without
impacting their credit score
- Helps build a positive credit history
with responsible use
- No bank account required; Payments and
security deposits can be made with cash at Green Dot retailers
nationwide
- Free online account management and bill
pay
- Additional features, benefits, fees,
terms & conditions and cardholder agreement can be found
here.
About Green Dot Corporation
Green Dot Corporation, along with its wholly owned subsidiary
bank, Green Dot Bank, is a pro-consumer financial technology
innovator with a mission to reinvent personal banking for the
masses. Green Dot invented the prepaid debit card industry and is
the largest provider of reloadable prepaid debit cards and cash
reload processing services in the United States. Green Dot is also
a leader in mobile technology and mobile banking with its
award-winning GoBank mobile checking account. Through its wholly
owned subsidiary, TPG, Green Dot is additionally the largest
processor of tax refund disbursements in the U.S. Green Dot's
products and services are available to consumers through a
large-scale "branchless bank" distribution network of more than
100,000 U.S. locations, including retailers, neighborhood financial
service center locations, and tax preparation offices, as well as
online, in the leading app stores and through leading online tax
preparation providers. Green Dot Corporation is headquartered in
Pasadena, Calif., with additional facilities throughout the United
States and in Shanghai, China.
[1] Wolkowitz, Eva and Schmall, Theresa. “2014 Underserved
Market Size: Financial Health Opportunity in Dollars and Cents”.
Center for Financial Services Innovation. December 2015.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160929005209/en/
Green Dot CorporationInvestor
Contact:626-765-2427IR@greendot.comorMedia Contact:Brian
Ruby, 203-682-8268PR@greendot.com
Green Dot (NYSE:GDOT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Green Dot (NYSE:GDOT)
Historical Stock Chart
From Apr 2023 to Apr 2024