announced on Tuesday, July 30, the public release of Zerocard, a credit card providing a "debit-style experience" issued by WebBank and backed by Mastercard.
"We know we're going to make less in the short-term, but we believe that building a better product in the long-term is going to pay dividends in other ways," Bryce Galen, founder and CEO of Zero, tellsZerocard is a credit card, but provides a "debit-style experience" and 1% to 3% cash-back rewards for cardholders. You have to have a Zero checking account in order to qualify for the credit card, which allows you to use the unique debit-style feature.
This feature also comes with autopay, which automatically deducts your Zerocard balance from your Zero checking account on your due date. You can also carry a balance month-to-month when you opt out of the debit experience, however there's a steepWhether you choose to have the debit-style feature on or off is up to you — though Galen says the majority of cardholders turn the debit-style feature on during onboarding."You always know where you stand and you don't have much of a temptation to overspend," Galen says.
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