Grow Credit is dedicated to lowering the barrier of entry for millions of Americans who need to establish and build credit. We do this by allowing customers to pay for their subscriptions with an interest-free virtual MasterCard. You can use your Grow card to pay for recurring subscription services such as Netflix, Hulu, Spotify, and many more. Grow Credit is structured and reported as an annual line of credit.
Grow has a simple system to help consumers with their credit-building needs:
If approved, we will issue a virtual MasterCard to access your loan. The monthly limit depends on your eligibility and which plan you choose.
Add one (or more) supported subscriptions to your list in your Grow Credit account. Update the payment method for your selected subscriptions to the virtual MasterCard. The subscription provider will charge the card on their regular billing date.
Each month, we email a PDF statement that outlines the charges to your card, as well as the due date and balance. We automatically withdraw the payment from your preferred payment method on the due date. Grow Credit does not charge interest on the loan.
We report your monthly repayments to the three major credit bureaus: Equifax, Experian, and TransUnion. When making consistent, on-time payments, using Grow can positively affect your FICO score over time. For more info on FICO scores, please visit: https://ficoscore.com/faq/