Bond Secured - for consumers
Launch a Credit Builder Card, Fast
Build a financial product that increases customer acquisition and retention and gives you 2x the interchange of a debit card with a single integration.
Launch a Credit Builder Card, Fast
Bond embedded
An easy way to do embedded finance
When it comes to launching financial products, it can sometimes look expensive, time-consuming and risky. With Bond’s Embedded App, you can now integrate financial services into your core offering without hiring a whole new team.
"121 million Americans are credit challenged with subprime credit scores or thin to no credit files."
- Financial Health Network
Helping your customers build credit is good for your business
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Earn 2x more interchange revenue than a debit card
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Improve customer acquisition and retention. Never turn a customer away due to their credit score.
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Limited credit risk - allow users to spend as much as they have without carrying the balance.
Everything you need
Bond has a step-by-step guide on how to build a secured charge card and get you to the market faster.
1/7
KYC & Onboarding
- Perform KYC with Bond KYC API
- Limited PII required for fast onboarding
- Bond manages all KYC exceptions
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Security Deposit Account
- Open FDIC-insured bank account with Bond Account API
- Includes unique account and routing number
- Add funds by ACH, Push to Debit, and Payroll
- Customers can withdraw funds if needed
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Secured Credit Card
- Issue credit card with Bond Card Issuing API
- Card limit automatically syncs with Security Deposit Account balance
- Customers can never spend more than their available deposit balance
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Rewards
- Incentivize customers to shift spend to your Credit Builder Card with rewards
- Easily build and manage a cash back or points rewards program
- Use rich transaction webhooks to allocate rewards by merchant or category
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Monthly Statements
- Create fully compliant, accurate statements with Bond’s APIs
- Deliver branded statements to your customers with ease
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Credit Bureau Reporting
- Bond’s compliance experts ensure you report to the credit bureaus accurately
- Learn to build a credit monitoring program and handle bureau disputes from customers
- Bond provides the data you need to create a Metro 2® formatted file for bureau reporting
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Risk, Compliance, & Program Management
- Bond owns program management and compliance so you can focus on your customers
- Benefit from Bond’s decades of regulatory and financial services experience
- Fully integrated transaction monitoring and fraud mitigation tools
- Own your appetite for risk with customizable program parameters and thresholds
- Best-in-class policy templates and account disclosures
Ready to launch your Credit Builder Card?
Speak with our experienced team to discuss pricing and next steps
FAQ
Everything you need to know about our Credit Builder Card solution
What information do my customers need to provide to get a Credit Builder Card?
Your customers will need to pass our partner bank’s KYC to get a Credit Builder Card. Bond provides a fully integrated KYC solution for you to use. Your customers will need to submit their first name, last name, date of birth, home address, and SSN / ITIN.
Is a hard credit check required to apply?
Nope! You do not need to pull your customers’ credit score as part of the application process so there is no impact to their score.
What kind of card does my customer get?
Your customers receive a consumer credit card, not a debit or prepaid card. The credit card can be used anywhere Visa or Mastercard are accepted.
How is the credit limit set on a Credit Builder Card?
The credit builder card does not have a pre-set spending limit. Instead, the available balance in the security deposit account sets the spending limit on the card.
Is the Credit Builder Card a secured credit card?
Yes.
What is a security deposit account? Is that a regular bank account?
A security deposit account is an FDIC-insured bank account at our partner bank. Your customers can use this account as an everyday bank account. They can even direct payroll to this account using its unique account and routing number. The Bond platform seamlessly links this bank account to a credit card to enable your customers to spend.
How can my customers add money to the security deposit account?
Your customers can fund the account via payroll, ACH transfers from a linked external account, or from another debit card.
Is there a minimum funding requirement?
Your customers can open a Credit Builder Card with as little as $1.
Can my customers spend the money they use to fund the security deposit account?
The funds that your customers add to the security deposit account can be used to pay off the monthly Credit Builder Card balance. This is a better customer experience than is offered by traditional secured credit cards.
Can my customers withdraw money from the security deposit account?
Yes, your customers can easily withdraw funds if needed. If funds are withdrawn, the spending limit of the credit card will decrease accordingly.
How does this product help my customers improve their credit scores?
Your customers will build their on-time payment history and increase the length of their credit history by using the Credit Builder Card consistently. Both of these factors are critical to building credit.
Which credit bureaus does Bond report to?
Credit Builder Card activity can be reported to all three major credit bureaus.
Will my customers pay any fees for using a Credit Builder Card?
You can set fees that your customers may pay, like a monthly subscription fee, at your discretion. Unlike traditional secured and unsecured credit cards, there is no APR associated with a Credit Builder Card.
Can my users create virtual credit cards that can be added to their mobile wallet?
Yes. Bond supports Apple, Google, and Samsung Pay.
Can my customers access an ATM with their credit builder card?
Yes.
Will my customers receive a Bond-branded credit card?
No. Bond is not a consumer-facing brand. Your company and brand will be front and center.
Who is your bank partner?
Unlike other banking-as-a-service and embedded finance platforms, Bond pre-integrates with several partner banks to improve your experience and speed to market. Bond pre-integrated Evolve Bank & Trust to issue our Credit Builder Card.
Am I responsible for program management or is Bond?
As a full-service platform, Bond serves as the program manager on your behalf. This is a significant benefit and cost-savings as you do not need to have a full team of legal and compliance professionals in order to launch!
Does Bond provide physical card manufacturing, fulfillment, and shipping?
Yes. Bond has pre-integrated CPI Card Group for physical card production, fulfillment, and shipping. You will be able to fully design and customize a physical card experience for your customers.
Does Bond provide a whitelabel app?
Yes! Some of our customers prefer to use what we call the embedded app already built on top of our APIs with their own branding.
Ready to launch your Credit Builder Card?
Speak with our team to discuss pricing and next steps
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Fintech founder predicts the biggest 4 banks will be worth ‘less than $100 billion’ in 5 years
‘It all goes back to creating access’: A day in the life of Roy Ng, co-founder and CEO of Bond
How a corporate lawyer and a finance guy ditched the rat race to build a 750 million barbershop app
Banking-as-a-Service Platform Bond Enables Fast Time to Market for Brands Seeking Embedded Credit Solutions
Fintech founder predicts the biggest 4 banks will be worth ‘less than $100 billion’ in 5 years
‘It all goes back to creating access’: A day in the life of Roy Ng, co-founder and CEO of Bond
How a corporate lawyer and a finance guy ditched the rat race to build a 750 million barbershop app