Traditional credit cards are relatively common and aggressively marketed by banks. But if you’ve ever tried to get one you’re likely familiar with the headaches associated with the application and approval process – hard credit checks that hurt your credit score, slow and painful document uploads (paystub, transcript, co-signer to name a few).... And after all that the approval rates for students and people applying for their first card is only 16%.
That’s right– they make you jump through hoops only to hurt your credit with a hard check and ultimately deny your application. And if you do get approved– you might still get screwed over because they have sky-high interest rates, every kind of hidden fee imaginable, and are designed to make you spend more than you should (so they can make money on interest!).
That’s where Atlas comes in. It’s a credit card that works for you– it’s a convenient modern experience, prevents over-spending, helps you build credit, provides fraud protection, and saves you money. And if you’re a student, you can start building credit sooner rather than later and save thousands in future interest on student loans, car loans, your future home, etc.
Who should get the Atlas card
The below table shows how Atlas compares to debit cards, credit cards, and secured credit cards. Atlas is a great option for you if any of the below apply to your situation:
- If you’re currently using a debit card as your primary card then Atlas is kind of a no-brainer. It has all the benefits of a credit card without any of the risks of high interest debt.
- If you’re a student, Atlas is a no-brainer. It has 6x higher approval rates (up to 98% vs 16% for credit cards), has zero interest, and there’s no credit check.
- If you’re using a credit card and find yourself over-spending or carrying a balance with high interest rates, it is probably a good idea to switch to Atlas for your daily spending to prevent overspending and never pay interest.
The cherry on top? With Atlas you have access to cash back offers worth up to 10% at 50,000 locations of places you love. That includes Chipotle, Shake Shack, Burger King, Doordash, Costco, and more. We’re always adding new offers to keep saving you money. It doesn’t stop there.. Atlas has some amazing referral incentives where you can earn up to $200 a month by sharing your invite code with friends.
The bottom line
When all is said and done, building credit is an essential part of achieving your long term financial goals and starting early matters a lot– in fact it can save you $56,400 over time.
Unfortunately traditional credit cards are painful to get, designed to trick you into spending more than you want, and make all their money on sky-high interest rates and hidden fees. At the same time staying on debit cards prevents you from building credit, getting cash back savings and enjoying full fraud protection on your card spend.
We built Atlas because there is a better way– something better than debit cards, without the headaches and risks of a traditional credit card. Atlas is the card we’ve always wanted and we think it’s a big step forward.