Building credit while supporting loved ones overseas

A proposed credit card solution

This credit card would cater to individuals, particularly migrant workers and those supporting family abroad, seeking to build their credit in the US while simultaneously providing financial support to loved ones in countries like Peru.

Secured Credit Building

The card operates as a secured credit card, requiring a deposit to establish a credit line. This deposit mitigates risk for the issuer and provides a path to credit building for those with limited or no credit history in the US, like immigrants and international students.

International Money Transfer Integration

Seamless integration with a dedicated international money transfer service (like Visa Direct) allows cardholders to use their available credit to send money to recipients' bank accounts or eligible Visa cards in various countries, including Peru.

Credit Building Benefits

Regular and timely payments on the credit card would be reported to major credit bureaus (e.g., Equifax, Experian, TransUnion) to build or improve the cardholder's credit score.

No Foreign Transaction Fees

To minimize costs associated with international transfers, the card would ideally feature no foreign transaction fees, however, standard foreign transaction fees might apply depending on the specific model and issuer.

Low or No Annual Fees

To make credit building accessible, the card could offer low or no annual fees.

Financial Education and Support

Providing resources on credit building, responsible credit card use, and international money transfer best practices can empower users to manage their finances effectively.

Migrant Workers

Individuals who have immigrated to the US and are sending remittances back to their home countries.

Individuals Supporting Family Abroad

Anyone looking to financially assist loved ones residing in countries like Peru while also improving their credit standing in the US.

Individuals with

Limited/No

Credit History

This card could be valuable for those aiming to establish or rebuild their credit in the US.

Potential benefits

Financial Inclusion

Provides a tool for individuals who may face challenges accessing traditional credit products due to their credit history or immigrant status.

Simplified Remittances

Consolidates credit building and international money transfer.

Testimonial

What they say about us.

“SoyCredi changed my financial life. I used to rely on expensive remittance services and had no credit in the U.S. Now, I can send money directly to my family in Lima using my card, and every payment I make builds my credit. It’s helping me work toward my dream of buying a home here.”

Maisie Dawson

With SoyCredi, I started small with a secured deposit, and I’ve already seen my credit score go up. Plus, I can send money to my parents back home when they need it, right from the app. No hassle, no crazy fees.”

Henry Hawkins

“As a student new to the U.S., building credit was tough.

“What I love most about SoyCredi is how it understands my needs. It’s more than a credit card—it’s a connection to my family. I use it to send money to my mom each month and to build credit here in the U.S. The educational tips helped me learn how credit works too. It’s truly built for people like me.”