A significant number of credit cards on the market today routinely reward their users for spending. The VITAL Card, however, stands alone as one that rewards its user for spending responsibly.
“VITAL provides its card holders with the tools that they can use to understand their credit score, make smarter financial decisions, and improve their credit health,” explains Chris Bridges, CEO and co-founder of the VITAL Card. “As card holders use those tools to build better credit, VITAL celebrates their wins with credit health rewards.”
Chris and his co-founder Adam Spencer spent the last two decades playing various leadership roles in the fintech and banking industries. Their experience opened their eyes to the gap that exists between credit and the people that use it, so they launched VITAL Card to fill that gap.
Through the VITAL Card app, users can access a personalized credit analysis that shows key metrics and how the user’s financial activity is impacting their credit. As users begin to adjust their financial activity based on the app’s recommendations, they earn rewards that include cash for smart financial decisions and cash for credit score increases.
“Our mission is to make VITAL more than a credit card,” Chris says. “We are building a financial community, where members lift each other up while expanding their own financial horizons and raising their credit scores. In short, we are building a community where better credit and the nicer things in life are within reach.”
The VITAL Card further encourages community by rewarding its card holders for sharing their VITAL experience with others and encouraging them to join the VITAL community.
“We feel confident that as our users begin to reap VITAL’s benefits, they will be inspired to share their experience with others in their social circles,” Chris says. “When this sharing leads to friends and family signing up for the card, those users will unlock a cache of rewards, including enhanced cash back bonuses and more.”
Reports show that the concerns Chris and Adam have about the gap in understanding of credit and its value are valid. Time, for instance, recently revealed that approximately 45 million adults in the US fail to benefit from credit opportunities because of a lack of credit history, calling these individuals “credit invisible.” A lack of education on how credit works was cited as a key factor that keeps many locked out of credit opportunities.
VITAL Card holders have the opportunity to close the knowledge gap that exists in the world of credit by inviting others to join the VITAL community. By simply sharing a referral link, VITAL Card holders can invite others to sign up for the card and take advantage of VITAL’s credit- building tools.
“Everyone who signs up for the VITAL Card using a card holder’s referral link becomes one of that card holder’s VITAL Connections, as does everyone the new connection signs up, and everyone they sign up,” explains Chris. “Every active VITAL Connection, which includes those spending $250 or more on the VITAL Card each month, increases the amount of referral cash card holders receive each month.”
The VITAL Card promises to be especially helpful to the Millennials and Gen Z, who report that they have struggled with getting approved for credit cards. As younger members of the population, these two groups have had less time to establish a credit history. In addition, the Covid-19 pandemic triggered an economic landscape in which lenders are more cautious about extending credit.
“If we can’t knock down every barrier that blocks people from building up credit, we’ll do our best to help folks scale the wall,” Chris promises. “If they have a credit score, we’ll look at it. If they don’t, we’ll ask questions and assess real indicators of creditworthiness. Are you earning money? Reliably paying your bills? If a blank credit history is the only barrier standing between someone and credit-building, we’ll work to welcome them into the VITAL community.”
