Imagine a world where building credit is easy and accessible to everyone. Well, that world exists with Sable One. Sable One is a fintech company that offers a primary tradeline for credit building. They have partnered with Coastal Community Bank to provide a checking account and secured Mastercard. The checking account has no minimum balance or monthly maintenance fees, making it a convenient option for those just starting their credit journey. The secured card requires a deposit, with limits ranging from $10 to $10,000, and Sable One does not perform a credit check, only identity verification. Plus, they offer a virtual card feature for the secured card, providing flexibility and convenience. With Sable One, you don’t even need a Social Security number to apply, making it inclusive and accessible for all. Best of all, Sable One reports the account to major credit reporting agencies, allowing you to build credit history and improve your credit score. After 12 months, if your credit score is above 700, you even receive a $25 statement credit as a reward. So, if you’re looking for a reliable and flexible option to build credit, Sable One is a great choice that offers numerous benefits without any annual fees or foreign transaction fees.
Sable One: Primary Tradeline for Credit Building
Introduction
Building credit can be a daunting task, but with Sable One, it has never been easier. Sable One offers a primary tradeline for credit building, allowing individuals to establish a solid credit history and improve their credit scores. In partnership with Coastal Community Bank, Sable One provides a range of financial products and services, including a checking account and a secured Mastercard. Whether you are new to credit or looking to rebuild your credit, Sable One is an excellent option to consider. In this article, we will explore the features and benefits of Sable One’s offerings and how they can help you on your credit-building journey.
Partnership with Coastal Community Bank
Sable One has formed a strategic partnership with Coastal Community Bank to bring their credit-building solutions to customers. Coastal Community Bank is a trusted financial institution with a solid reputation in the industry. Through this partnership, Sable One customers can access a variety of banking services, including a checking account and a secured Mastercard. This collaboration ensures that Sable One customers receive reliable and secure financial products and services.
Checking Account Features
One of the key offerings of Sable One is a checking account with Coastal Community Bank. This checking account comes with a range of features designed to make managing your finances easier. Unlike traditional bank accounts, Sable One’s checking account has no minimum balance requirement, allowing you to maintain your account without worrying about maintaining a certain balance. Additionally, there are no monthly maintenance fees, providing further flexibility and affordability.
Secured Mastercard Features
Sable One’s secured Mastercard is an excellent tool for building or rebuilding your credit. With a secured card, you are required to make a deposit that serves as your credit limit. Sable One offers a wide range of credit limits, ranging from as low as $10 to as high as $10,000. This flexibility allows you to choose a credit limit that suits your needs and financial situation.
One of the standout features of Sable One’s secured Mastercard is that they do not perform a credit check during the application process. Instead, they focus on identity verification, making it easier for individuals with limited or no credit history to be approved. This is particularly beneficial for those who may have struggled to obtain credit in the past due to a lack of credit history or poor credit scores.
No Credit Check, Only Identity Verification
Sable One takes a unique approach to the application process for their secured Mastercard. Unlike traditional credit card applications that typically involve a credit check, Sable One only requires identity verification. This means that they do not evaluate your credit score or credit history when assessing your application. Instead, they focus on confirming your identity to ensure that the credit card is issued to the right person.
By eliminating the credit check requirement, Sable One opens up opportunities for individuals who may have faced difficulties in obtaining credit in the past. Whether you are new to credit or have experienced financial setbacks in the past, Sable One’s secured Mastercard offers a pathway to building or rebuilding your credit.
Virtual Card Feature
Sable One’s secured Mastercard comes with a unique virtual card feature. Virtual cards allow you to make online purchases without using your physical credit card. This added layer of security protects your card details and reduces the risk of credit card fraud. With Sable One’s virtual card feature, you can easily generate virtual cards and use them for online transactions, providing greater convenience and peace of mind.
No Social Security Number Required
For individuals who are new to the United States or who have not yet obtained a Social Security number, obtaining credit can be challenging. However, with Sable One, you do not need a Social Security number to apply for their secured Mastercard. They offer an alternative method of identity verification, allowing individuals without a Social Security number to still access credit-building opportunities. By using your name, date of birth, and address, Sable One can report your account activity to major credit reporting agencies, helping you establish a solid credit history.
Reporting to Major Credit Reporting Agencies
One of the essential factors in building credit is ensuring that your credit activities are reported to major credit reporting agencies. Sable One understands the importance of this and ensures that your account activity is reported to these agencies. By reporting your credit card usage and payment history, Sable One helps you establish a positive credit history, which is crucial for improving your credit score.
By consistently using your secured Mastercard and making timely payments, you can demonstrate responsible credit behavior, which is reflected in your credit report. Establishing a positive credit history allows you to access better credit opportunities in the future, such as loans, mortgages, and unsecured credit cards.
Reward for Good Credit Score
Sable One rewards customers who demonstrate good credit behavior by offering a $25 statement credit. After 12 months of responsible credit card usage and maintaining a credit score above 700, you become eligible for this reward. This incentive encourages individuals to maintain good credit habits and motivates them to continue building their credit.
By providing a financial incentive for responsible credit behavior, Sable One not only promotes healthy financial habits but also acknowledges and rewards customers for their commitment to improving their credit scores. This reward serves as a tangible benefit for individuals who strive to establish and maintain good credit.
Future Plans for Unsecured Credit Option
While Sable One currently offers a secured Mastercard, they have plans to expand their credit offerings in the future. Sable One aims to launch an unsecured credit option, providing customers with the opportunity to transition from a secured credit card to an unsecured one. This progression allows customers to build a relationship with Sable One and demonstrates their creditworthiness, making it easier to qualify for an unsecured credit card.
The availability of an unsecured credit option is an exciting development for individuals looking to further improve their credit and access a broader range of credit opportunities. Sable One’s commitment to expanding their offerings demonstrates their dedication to helping individuals achieve their financial goals.
No Annual or Foreign Transaction Fees
With Sable One’s secured Mastercard, you can enjoy the benefits of credit without worrying about annual fees or foreign transaction fees. Many credit cards charge annual fees, making them costly to maintain over time. However, Sable One believes in providing affordable financial solutions, which is why they have chosen to eliminate annual fees.
Additionally, for individuals who frequently travel or make purchases from international merchants, foreign transaction fees can quickly accumulate. Sable One understands that these fees can be a burden, which is why they do not charge foreign transaction fees. This feature makes Sable One’s secured Mastercard an excellent choice for individuals who want to enjoy the convenience of credit while minimizing fees.
Benefits of the Secured Card
In addition to the features mentioned above, Sable One’s secured Mastercard comes with a range of benefits that enhance your credit-building journey. Cardholders can enjoy cashback rewards on eligible purchases, including popular services like Amazon, Netflix, Spotify, Hulu, Uber, UberEats, and Whole Foods. These cashback rewards allow you to earn money back on your everyday expenses, providing additional savings and value.
Furthermore, Sable One’s secured Mastercard offers additional perks such as car rental insurance, cell phone protection (including cracked screens), and zero liability protection on purchases. These benefits enhance the overall value of the credit card and provide peace of mind when using your card for various transactions.
Credit Limit Modification
Sable One understands that your financial needs may change over time. To accommodate this, they offer the flexibility to modify your credit limit. Whether you need to increase or decrease your credit limit, Sable One’s customer service team can assist you. By reaching out to customer service via email, you can easily request a credit limit modification.
This feature allows you to adjust your credit limit based on your evolving financial situation. Whether you need access to more credit or want to reduce your credit limit for better financial management, Sable One provides a seamless process for modifying your credit limit.
Retroactive Credit History Reporting
Sable One recognizes the importance of your entire credit history, including your earlier payment activities. To ensure that your credit history accurately reflects your creditworthiness, Sable One retroactively reports your credit history from the first payment made using your Sable One account. This means that even if you are just starting your credit-building journey with Sable One, your credit history will still reflect your responsible credit behavior.
This retroactive credit history reporting helps individuals establish a robust credit history from the moment they start using their Sable One secured Mastercard. By including past payment activities in your credit history, Sable One allows you to benefit from your diligent credit habits.
Flexibility and Benefits
Sable One’s primary tradeline for credit building offers unparalleled flexibility and benefits. With their secured Mastercard and partnership with Coastal Community Bank, they provide individuals with the tools they need to establish and improve their credit. Sable One’s commitment to offering affordable financial solutions is evident in their no annual or foreign transaction fees policy. This commitment extends to their checking account, which has no minimum balance requirement or monthly maintenance fees.
Furthermore, their virtual card feature and no Social Security number requirement open up credit-building opportunities for those who may have faced barriers in the past. By using innovative technology and alternative methods of verification, Sable One ensures that individuals can access credit-building options regardless of their circumstances.
In conclusion, Sable One is a reliable and accessible option for individuals looking to build credit or rebuild their credit history. Their partnership with Coastal Community Bank, coupled with the features and benefits of their checking account and secured Mastercard, provides individuals with a comprehensive credit-building solution. With no credit checks, a virtual card feature, and retroactive credit history reporting, Sable One offers the flexibility and support needed to achieve your credit goals. Whether you are new to credit or looking to improve your credit score, Sable One is here to help you on your journey to financial success.
