Zolve has launched a US Credit card for Indian individuals moving from India to the U.S. (or the other way around) known as a Zolve US Credit Card. This credit card does not have any joining and annual fees. Here is everything you should know about it.
Ten thousand Indian Students and professionals move out of India for better higher education and for work. The primary problem Indian students & professionals face is opening savings accounts and U.S Credit cards.
Banks in the U.S., or in most other countries issues credit card solely based on credit scores issued by Local credit score providers. Even if you have a great credit score ( CIBIL above 780) in India, this credit score helps you in getting a U.S. credit card.
About Zolve
Zolve is a Bengaluru and San Francisco-based global neo-bank that aims to make financial systems and transactions across borders seamless. The startup has already grabbed $15 million in seed funding.
Fees and Rates
| Types | Fees |
|---|---|
| Joining Fees | No joining fee |
| Annual Fees | No annual fee |
| Foreign transaction fees | No foreign transaction fees |
| Intro APR | 0% APR for 6 months |
| Regular APR | After 6 months it will be 14.99% (variable with prime rate as follows: 11.74% + WSJ Prime Rate) |
| Late Fees | The first late payment fee was waived off |
Features of Zolve US Credit Card
No annual fee
Zolve USA Credit Card credit is totally free, no need to pay charges for credit card maintenance.
No foreign transaction fees
Almost all Indian banks charge, foreign transaction fees if use a Debit card or Credit card for foreign purchases, charges range from 1% to 3.5%. However, if you have this credit card, you do not need to pay any charges for the same.
There are some credit card that offer NET Positive rewards on foreign purchases, Even if they charges 1% Markup fess but give you 2% rewards, you may check Hdfc Bank Infinia Credit Card.
High credit limit
Zolve US Credit Card offers a high credit limit, you can get a Credit limit of up to $10,000/-/ That will be a sufficient balance for students and professionals.
The first late payment fee was waived off
The First late payment will be waived, after onwards late fees will charged
0% APR for 6 months
Zolve credit card offers zero interest rate for the first 6 months as an introductory offer. You can build these 6 month for setting life in a new country( Only USA Now)
Amazing rewards in popular stores
You can get handsome rewards points by using a Zolve US Credit Card, on selected partner merchants like Amazon, and COSTCO here are some of them.
Option to Freeze/ unfreeze from the app
You can control your credit card from Credit App. You can Freeze/ unfreeze from the app
No SSN nor U.S. Credit History Required
You do not need an SSN or U.S. Credit History for the Zolve Credit card application. All US-based credit providers are required to have an SSN or US credit card history for application processing.
Its Pre-approved Credit Card
When you bank with Zolve, you are pre-approved in India and get your card as soon as you land. How’s that for being a priority?
No Security Deposit required
You don’t need a security deposit to get a high credit limit with Zolve
Help to Build Great US Credit Score
The Zolve Card helps you build a great U.S. credit score from the time you arrive. Zolve reports your payments to the U.S. credit bureau which will increase your FICO Score.
How to Apply for Zolve US Credit Card
You can apply for a Zolve US Credit Card by visiting Zolve’s official website that is https://zolve.com/ and sharing some information, Photos, Passport copies, etc..
Verdict: Should you go for a Zolve US Credit Card?
If you are a new immigrant to the US from India, then you need to build a US credit score to have a US credit card without any security. However, with the help of the Zolve Credit card you can get an American credit card without having an SSN ( Social Security number) or US Credit history.
You can sign up for the credit card and account from India itself. Even before you land in the U.S., you have your finances sorted. Zolve has got you covered from the very beginning!
