Cleo Credit Builder Visa® Card
A charge card with Credit Builder Account made to boost your credit ratings
Updated: Mar 02, 2023
Cleo is an AI-powered app primarily designed to help you manage your finances. It offers a new way to improve its clients' spending and saving habits because the Cleo Credit Builder app is anything but traditional and boring. Namely, the app is famous for its sassy AI assistant, the use of unfiltered language, and sincere responses, which is precisely why so many people love it. However, the latest feature Cleo is offering to its users is the ability to increase their financial outputs, with a strong focus on building credit scores. For $14.99 a month, you can get a Cleo Credit Builder card that'll allow you to build credit, get cash advances, earn cashback rewards, experience Visa benefits, and enjoy premium customer support.
at Cleo's Secured websiteApply Now
Intro APR Period
Recommended Credit Score
Bad Credit OK
- Charge Credit Card with Credit Builder Account
- Helps budget, save, borrow and build credit
- Cashback rewards program with Cleo Plus
- Minimum recommended credit score is 500
- No credit check. No interest.
- 2 minutes signup
- Credit reporting
- Issued by WebBank, FDIC Insured
Cleo Credit Builder Card is Best for
- People looking for a platform that’ll help them build credit in a fun and easy way;
- People interested in developing strong credit-building and money-saving habits;
- Those searching for a card that won’t charge them standard fees commonly associated with secure credit cards;
- People who are attracted to earning amazing rewards through cashback and daily challenges;
- People who don’t mind paying a slightly pricier monthly fee for the access to all features and a good time with Al.
Cleo Credit Builder Visa Advantages
If you decide to sign up with Cleo, you can count on experiencing a wide variety of advantages, including the ones mentioned below.
Military-grade online safety. Since online banking and financial platforms use valuable client data, security is the top priority for anyone using or offering digital financial services. One of the greatest things about Cleo Credit Builder is that it never stores your login details since they’re secured with 256-bit encryption. You can sit back and relax because all your credentials and confidential data are safe with Cleo.
Services. Besides having access to the Credit Builder program, the Cleo Visa card offers numerous additional services to its clients, including individual finance management, cashback opportunities, and daily cash challenges. That’s an impressive selection of various services clients can choose from and enjoy.
Cash cack rewards. As already mentioned, Cleo offers some outstanding cashback rewards. Namely, you can earn some money back via click-through offers at selected retailers. Every time you spend some money at your favorite stores, you’ll get a little bit back.
No fees. There are no fees besides the $14.99 monthly fee. That includes annual fees, late fees, and other fees generally associated with traditional cards. You can always plan your budget accordingly as there are no hidden or unexpected costs.
No minimum security deposit. Cleo doesn’t require a minimum security deposit amount to open your account. Whatever amount you decide to deposit will serve you as your credit limit. With no fees and no minimum security deposit required, Cleo customers can experience greater financial flexibility and freedom to manage their funds.
Charge card. The Visa card you’ll receive at Cleo is a charge card, meaning that you must pay off the balance in full after each month. While this is a huge responsibility, it’s an excellent way to develop strong money management and credit-building habits, as you’ll never get yourself into debt and heavy interest rates. (See: Charge vs Credit Card. Explained.)
Cash advance. Although a charge card, Cleo can lend you up to $100 when you need it. This feature can save you from unexpected financial costs but remember you need to pay off the full amount at the end of the month.
What are the Disadvantages?
Although the advantages of the Cleo debit card are numerous, the program still isn’t flawless. Therefore, it’s vital to understand Cleo isn’t perfect and comes with some unique drawbacks you should consider before taking the plunge.
We’ve already mentioned the monthly fee for using Cleo financial services is $14.99. That may not seem like a lot of money at first glance. However, that’s $180 annually just to use the Cleo Credit Builder Card. When you compare this amount to the annual fee of other credit-building and secured cards, you’ll quickly realize Cleo offers its services at a pretty expensive price point. But, if you find its advantages amazing, maybe it’s worth paying a slightly pricier sum for the service.
Reports to 1 credit bureau
The other main disadvantage of using Cleo is that the company only reports to one major credit bureau – Experian. This feature can drastically reduce your chances of building strong credit because the best results are achieved when a company reports to all three major credit bureaus – Experian, Equifax, and Transunion. While reporting to a single credit bureau was acceptable a few years back, today, you can easily find numerous similar companies that report to all three major credit bureaus.
What Makes the Cleo Credit Builder Card Different
Cleo offers revolutionary features in the digital banking industry. With zero-fee and zero-interest rates, customers can take control of their spending without a financial institution limiting their every move. What makes Cleo different are the following features:
- No interest rates;
- Easy budget planning;
- You determine your line of credit;
- Bank doesn’t decide your credit limit.
If you’re looking for a digital platform that’ll support your decisions and help you achieve financial freedom, Cleo Credit Builder with a Visa charge card might be just the solution.
To sum everything up, Cleo is introducing some innovative features into online financing and banking. Cleo is a reliable platform that offers its clients much-needed stability with a determined monthly fee and no additional costs. Furthermore, the platform offers impressive rewards and offers to its clients, so you should check Cleo out. Nevertheless, the monthly fee is slightly more expensive, and the company reports only to Experian. For some people, these could be the reasons to go with a Cleo alternative — see the Best Credit Builder Apps Comparison article.
Frequently Asked Questions
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Cleo Credit Builder Visa® Card Alternatives
Cleo Credit Builder Visa® Card
Rec. Credit Score
Bad Credit OK