How it works
When you sign up for a Fizz card, you’ll start by inputting some personal information. Fizz doesn’t check your credit, so you won’t have to worry about getting denied based on your existing credit history. Next, you’ll need to connect a bank account with at least $150 in it. Once that’s done, you’ll add your card to your Apple Wallet and start using it right away (a physical card will come to you in the mail within 2 weeks).
The Fizz card builds your credit just as much as any traditional credit card would. With Fizz, you still have an unsecured line of credit from Lead Bank and that line of credit is still reported to credit bureaus on a monthly basis. Fizz isn’t a secured card. It’s just a better way of building your credit history as a young adult, as you won’t have to worry about debt, interest rates, fees, credit checks, or the other common pitfalls of using a normal credit card.
The importance of building credit history
Building your credit history as soon as possible after you turn 18 is an important step to take for lots of reasons. Perhaps most importantly, a good credit score can help make loans less expensive. If you ever want to buy a car or buy a house, having a good credit score can save you thousands and thousands of dollars - your score can even be the difference between being approved and being denied for a loan. Good credit can also help with apartment rentals and job opportunities in the short-term.
A healthy credit score is also a key piece of financial independence. Without good credit, many young adults find themselves reliant on their parent(s) or guardian(s) to help them with the most minor financial matters. Without a good credit score, you might be stuck needing a cosigner for something as little as a new cell phone or an internet connection.
It’s also important to note that building credit history on your own is extremely important. Plenty of young adults and college students think that having a credit card through their parents is enough to help their score, but the reality is that lenders, landlords, and potential employers want to see your own lines of credit on your credit report. Using your parents’ card isn’t going to help with that - but a Fizz card will.
A fee-free and safe way to build your credit history
The Fizz card stands out above the competition because it’s one of the only credit-building cards that doesn’t take advantage of cardholders. Normal credit cards make billions of dollars every year by charging users hidden fees, sky-high interest rates. Fizz, on the other hand, doesn’t do any of this.
Fizz doesn’t charge any fees and it doesn’t have interest rates either. With daily Autopay, your purchases are automatically paid off on a daily basis, and you won’t have to worry about late fees or interest charges. Fizz is fee-free, safe, secure, and the best way for you to build credit history in college as a young adult.
Fizz is required to report late payments after the end of your grace period, which may negatively impact your credit score. Credit scores are independently determined by credit bureaus based on a number of factors, including your activity with other creditors.
