FAQ
What is Kredit Academy?
Kredit Academy is a white-labeled credit card and digital rewards platform designed to help teens and young adults form healthy financial habits, encourage positive credit usage, and improve financial literacy.
How does the Managed Credit Card system work?
Individuals are issued a secured credit card, with those under 18 having their card co-managed by a parent or guardian (Authorized User). This co-management feature ensures a safety net while providing a real-world experience in credit management.
Traditionally secured credit cards take a deposit and put funds in an account you generate no interest on. We put your deposit in a high yield savings account giving you the ability to build a nest egg and build your credit at the same time
What makes the High Yield Savings feature unique?
Unlike standard deposit accounts, funds establishing the credit line in Kredit Academy are held in a high yield savings account, allowing the money to grow over time, and promoting a culture of saving alongside responsible credit usage.
Traditionally secured credit cards take a deposit and put funds in an account you generate no interest on. We put your deposit in a high yield savings account giving you the ability to build a nest egg and build your credit at the same time
How can teens earn rewards with Kredit Academy?
Rewards can be earned through everyday activities and learning modules in addition to regular spend. This innovative approach makes financial learning engaging and beneficial.
Traditionally secured credit cards take a deposit and put funds in an account you generate no interest on. We put your deposit in a high yield savings account giving you the ability to build a nest egg and build your credit at the same time
How do credit unions and community banks benefit from partnering with Kredit Academy?
By offering a tailored financial literacy experience, credit unions and community banks can attract and retain new members, provide a valuable educational resource, and foster long-term loyalty.
We offer you the opportunity to set a 30% cap on spend to ensure utilization never hurts your score.
You now spend to save. With your set it and forget it amount if you don’t spend your predetermined amount we can roll over the balance into your ‘save’ account which will increase your available credit and lower your utilization
How is Kredit Academy's platform integrated?
Integration can be customized to serve the needs of each client and is handled by the Kredit Academy team. Whether we function within your existing banking core app experience or launch a new, wholly self-contained app, the choice is yours.
We offer you the opportunity to set a 30% cap on spend to ensure utilization never hurts your score.
You now spend to save. With your set it and forget it amount if you don’t spend your predetermined amount we can roll over the balance into your ‘save’ account which will increase your available credit and lower your utilization
How do I get started with Kredit Academy?
You can get started by contacting us through our website. Our team is ready to work with you in implementing a personalized financial education solution for your current and future clients.
We offer you the opportunity to set a 30% cap on spend to ensure utilization never hurts your score.
You now spend to save. With your set it and forget it amount if you don’t spend your predetermined amount we can roll over the balance into your ‘save’ account which will increase your available credit and lower your utilization
What is the structure of the rewards program?
The rewards program is structured to offer monetary rewards, tokens, and items based on both everyday spending and completion of financial education modules, making learning about finance both fun and rewarding.
We offer you the opportunity to set a 30% cap on spend to ensure utilization never hurts your score.
You now spend to save. With your set it and forget it amount if you don’t spend your predetermined amount we can roll over the balance into your ‘save’ account which will increase your available credit and lower your utilization
Is there a beta launch for companies interested in Kredit Academy?
Yes, companies interested in Kredit Academy are offered priority access to our beta launch for up to 1,000 cardholders, providing an early glimpse into the benefits of our program.
We offer you the opportunity to set a 30% cap on spend to ensure utilization never hurts your score.
You now spend to save. With your set it and forget it amount if you don’t spend your predetermined amount we can roll over the balance into your ‘save’ account which will increase your available credit and lower your utilization
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