June 25, 2024

The Cred.ai credit card, popularly known as the Unicorn Card, is designed with users in mind, especially those looking to build their credit. It comes packed with features to protect against fraud, prevent overspending, and avoid late bill payments.

![Cred.ai Unicorn Card](https://investmentshoax.com/wp-content/uploads/2024/06/credai-unicorn-card-770×462.jpg)
Image sourced from Cred.ai

Wondering what sets this card apart from traditional credit cards? It’s the approach. The Cred.ai card manages your spending limits based on what’s in your linked deposit account. It takes care of bill payment by setting aside funds for each purchase you make, ensuring you never miss a due date. Nevertheless, it doesn’t offer any rewards for purchases, and there’s no room for an upgrade to a card with more benefits, once you establish your credit.

Let’s delve into five key things you should know about the Cred.ai credit card.

No Impact on Credit Score

A remarkable thing about Cred.ai is that applying for their credit card doesn’t affect your credit score. No FICO score is required for the application, making it suitable for those just starting to build their credit. Though it requires other financial details like income, approval isn’t a guarantee. Note that Cred.ai reports payment activity to all three main U.S. credit bureaus.

Benefit Terms Are Peculiar

There are some distinct features on the Cred.ai credit card. Here’s a brief explanation:

– Flux Capacitor: This feature provides access to your paycheck up to two days early and gives a two-day notification on recurring charges.
– Stealth Card: Here’s a virtual card number that allows safe purchases, ensuring your data is secure even if a merchant’s data is compromised.
– High Security: This enables setting up limited-time authorization windows, which limits charges to a merchant.
– CredOptimizer: This is an algorithm that optimizes your credit utilization to prevent overcharging and potentially damaging your credit score.
– Friend & Foe: This permits specifying approved and disapproved merchants. Purchases from the former are always allowed, while those with the latter are always blocked.
– Check Please: An interesting feature that validates transactions restaurant bills to avoid card decline embarrassment.

Unfolds More With Deposit Account

You can get a Cred.ai credit card without a Cred.ai deposit account. But, having both offers you more functionality, such as automatic payment and safe spending limit. However, note that opting out of automatic payment disqualifies you from the Cred.ai Guaranty, which covers interest and fee costs if automatic payment fails.

No Fees, No Interest

Interestingly, the Cred.ai card operates free of any fees, including annual and foreign transaction fees, or interest. They do have an APR on purchases (17.76% as at time of writing), but the Cred.ai Guaranty policy covers this.

Aesthetically Appealing

Last but not least, the Cred.ai card is made of metal with a stylish silver unicorn design against a black background, giving it a sleek look. However, remember that it won’t offer celebrity-like privileges compared to cards like the American Express Centurion card.

The Cred.ai card is still an excellent option for those interested in building their credit securely and conveniently.

### Frequently Asked Questions

Which features make the Cred.ai card unique?

Unlike traditional credit cards, the Cred.ai card comes with beneficial features designed to enhance user experience and promote responsible spending. These include Flux Capacitor, Stealth Card, High Security, CredOptimizer, Friend & Foe, and Check Please.

Are there any fees attached to the Cred.ai card?

No. The Cred.ai card doesn’t charge any annual fee, cash advance fee, or foreign transaction fee. Even though it has an annual percentage rate on purchases, this is taken care of by the Cred.ai Guaranty policy.

Does applying for the Cred.ai card impact my credit score?

No. Applying for a Cred.ai card does not affect your credit score. Even a FICO score isn’t required for the application process. Still, other financial details, such as income, are required, and getting approved isn’t guaranteed.