Grow Credit is dedicated to lowering the barrier of entry for millions of Americans who need to establish and build credit by allowing customers to automatically pay for their subscriptions through a virtual MasterCard. You can use your Grow card to pay for Netflix, Hulu, Spotify, and many more.
Using Grow allows you to demonstrate a repayment history to the credit bureaus for the subscriptions you already have, without the cost of high interest rates.
By providing a line of credit, Grow helps you build your credit score in several ways:
Firstly, automatically having your balance paid in full every month creates a solid payment history, which accounts for 35% of your score.
Secondly, Grow starts the clock on your average length of credit history, accounting for 15% of your score.
Finally, Grow adds another line of credit to your credit mix, which accounts for 10% of your score.
Grow Credit does not conduct a hard credit check, which means that opening the account does not negatively impact your score.
For more information about the factors that can affect your credit score, see this article from MyFICO.