If you’ve been having trouble getting approved for a credit card due to your credit score, you are not alone. Many people have poor credit due to overspending and other life issues. Fortunately, Genesis Credit is willing to give people with bad or no credit a chance through their subprime card that doesn’t require a prime credit score.
If you’ve never heard of Genesis credit, this article is for you. I will go over everything you need to know in order to get approved, even if you have a low credit score.
8 Facts You Need to Know About Genesis Credit
1. What is Genesis Credit?
Genesis credit is a subprime card that you can get approved for with poor or no credit. You can get “Pre-Approved” for a card without hurting your credit score in just a few minutes.
2. What Credit Score Do You Need for Genesis Credit?
You only need a Credit Score of 600 or above to get approved for a Genesis Credit Card. However, you will have a better chance of approval with a score of 650 or higher. A higher credit score will also help you get a better interest rate.
3. What Credit Bureau Does Genesis Credit Use?
Genesis Credit uses FICO and Experian to decide if you get approved for a card or not. They calculate your FICO Auto Score 8 based on data provided by Experian.
4. Does Genesis Finance Report to Credit Bureaus?
Genesis Credit can decide to report information about your account to any of the three credit bureaus. The information they report includes any late and missed payments or other delinquencies on your account.
5. Does Genesis Credit Help Build Credit?
Using your Genesis credit card is a great way to improve and build your credit. In fact, I often recommend it to friends or relatives who are just starting to build credit or have a bad credit score.
6. What Bank Does Genesis Credit Use?
Genesis Credit uses First Electronic Bank to issue their credit card. First Electronic Bank is FDIC-insured and has received an A+ rating from the BBB.
7. Is Genesis Credit a Credit Card?
Once approved by Genesis, you will receive a credit card issued by Mastercard. Depending on the type of credit card you apply for, you can use your Genesis Credit Card anywhere Mastercard is accepted or the specific retailer you were approved for.
8. Is the Genesis Credit Card Revolving Credit?
The type of credit you receive from Genesis Credit is considered “Revolving.” Its revolving credit limit will vary depending on your credit score as well as other credit history factors.
Final Thoughts
If you’re looking for a subprime credit card, Genesis Credit may be the solution. They provide an option to people with low or no credit scores who other lenders often turn down. With their approval process, almost anyone can get approved in minutes without hurting their FICO score.
