Why Access to Credit is Access to Financial Freedom
No matter where you’re at with your money, we want to help you achieve financial freedom.
Author: Abby Butkus
September 13, 2022|Blog
Imagine a dream world where you felt secure in your money. You didn’t have bills keeping you up at night. You never had to worry over your credit score. It might sound like a fantasy, but we believe it’s possible.
Financial freedom is being able to meet your financial needs while feeling sufficiently savvy about your money — and your credit plays a huge role in achieving that. But Rome wasn’t built in a day — and neither is perfect credit. Some people may take their credit for granted, but the ability to get access to credit when and where you need it is a privilege many Americans don’t have. One in five people are locked out of mainstream credit because they don’t have a credit score — a three-digit number completely out of touch with real life.
How your credit affects your life
Your credit is your reputation with lenders. It affects your potential to borrow money at favorable interest rates, making it possible to buy things you can’t afford at the moment, like a home or car. The lower your credit, the harder or more expensive it may be to qualify for a loan.
There are options available even if you have bad credit, like short term payday loans or quickly borrowing from family and friends. But most of the options available if you don’t have good credit are predatory and can get you trapped in cycles of debt with extremely high interest rates and fees (i.e. beware of the fine print!). We don’t mean to scare you, but it can really happen to anyone!
Everyone deserves fair access to credit
Here at Arro, we don’t like to dwell in the past — we believe your financial past shouldn’t determine your financial future. Our mission is to democratize credit, which means giving anyone (including YOU!) access to credit at affordable rates.
No matter where you’re at with your money, we want to help you achieve financial freedom and democratize credit for all.
How? We’re so glad you asked. It’s as easy as 1, 2, 3:
First, get fair access to credit, even with a low or no credit score. All you need is income.
Next comes bonding time: We’ll work with you to set financial goals and identify your money behaviors.
We’ll combine all that with rewards and nudges to keep you on track and help you establish positive money behaviors over time.
When it comes to credit, we believe knowledge is power, and by giving you the tools to effectively handle your credit, we can help you build your financial future. Out with the jargon and in with the real talk — our goal is to make sure you have a real understanding of your money.
But what if…
I’ve never had a credit card before?
Typically, you need credit to get credit. Arro turns on its head by giving you access to credit without a credit score — all you need is proof of income to qualify. You’re in the driver’s seat to grow your credit limit over time.
I’ve struggled with debt and credit in the past?
Your financial past shouldn’t define your worth. We believe with the right information and nudges, you can be a credit card superstar and deserve the chance to start building your credit right now.
I want to improve my credit score?
We believe our science-backed approach and super-accessible card is the perfect combination to steadily build your credit score. We’ll help you make consistent, on-time payments without risking over-extending your credit.
The knowledge you’ll learn with us will help you boost your score. Small changes can add up to big financial wins over time.
Ready to get started? We’re ready, too 😀 Sign up for our waitlist today.