TomoCredit, Inc.

TomoCredit is a fintech company that offers a credit card designed specifically for immigrants and people who have no US credit history. Most conventional credit card issuers use US credit scores as the primary basis for approval, which makes it difficult or impossible for someone who is new to the country or has never had a US credit product to get started. TomoCredit addresses this by using bank account data, including income and cash flow information, instead of or in addition to credit scores when evaluating applications.

The TomoCredit card does not charge interest because it works on a charge-card model where the full balance is automatically paid at the end of each billing period from the linked bank account. This means no revolving balance and no interest charges, which removes the risk of accumulating high-interest debt. However, it also means the card requires a linked bank account with sufficient funds to cover your spending each cycle.

TomoCredit reports payment activity to the major credit bureaus. Consistent use and on-time payments can help establish a US credit history from scratch, which is one of the primary reasons the card is useful for new arrivals or those with no prior US credit file.

Credit limits are set based on the bank account and income data reviewed during the application process and may be lower initially. Limits may increase over time as you demonstrate responsible use.

Before applying, verify the current card terms, any fees that apply, how the automatic repayment works, and what happens if the automatic payment fails due to insufficient funds. TomoCredit is a fintech company, not a bank. Its card is issued through a bank partner. Review all current terms directly with TomoCredit before applying.