“Forget everything you know about credit cards.” Jasper MasterCard has an app, but cardholders will not be able to access their account from a desktop computer. The ideal customer will also need to be comfortable with managing the entire account from a mobile device. The fact that they don't have a credit history should not limit these customers to a minimal line of credit, a security deposit, and exuberant fees. The ideal customer has gainful employment (or can prove they will be starting a job within 60 days) and limited debt. One way they are making this happen is keeping the Jasper card devoid of fees and penalty APRs. And the Jasper MasterCard wants to help these professionals do everything they can to make their first line of credit a healthy one. But here's the difference between these cards and the Jasper MasterCard: the Jasper card aims to serve business professionals who are actively employed without a credit history. Plenty of people without a credit history qualify for secured cards or even some unsecured cards. The solution - the Jasper MasterCard and all new marketing campaigns were developed to include all professionals without a credit history, not just ones new to the country. The rebranding of CreditStacks occurred early in 2020 when it became apparent that their target audience was excluding individuals with similar but not exactly the same situation. CreditStacks was designed to provide credit to immigrants with jobs but no credit history and a social security number in progress. Teaming up with two immigrants experiencing the same issue and a veteran US banker, Rozenrot set out to tackle the troubling dilemma of obtaining a credit card without having the traditional criteria.The result was the creation of CreditStacks in 2018. This problem, she felt, was begging for a solution, and Rozenrot was just the person to find one. As a business professional, she saw this dilemma as particularly crippling for navigating the complicated day-to-day world. Rozenrot lacked two vital criteria that prevented her from qualifying for a traditional credit card: a social security number and a credit history. She was employed and was able to open bank accounts, but when she looked into getting a credit card, she seemed to hit a wall. It seems like a hopeless situation, but it's not.Ī few years ago, CEO Elnor Rozenrot arrived in the US from Israel. Now add the troubling fact that you are an immigrant newly established in the United States, and you do not have a social security number. Unfortunately, this situation usually results in settling for a secured card with a paltry credit limit and crippling extra fees. Obtaining a credit card is often a difficult task for people without an established line of credit.
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