CreditStacks revolutionises credit for professionals relocating to US

CreditStacks, a company that offers the United States-based premium credit cards to prime, new-to-credit customers, announced on Tuesday the launch of CreditStacks card, offering global professionals who relocate to the United States.

Issued by First Century Bank, N.A., the CreditStacks Mastercard credit offering aims to fulfill a crucial and fundamental need for global professionals relocating to the U.S. on a work visa.

Every professional moving to the U.S. faces the credit paradox: no matter how much a person earns or how stellar of a track record he or she might have, it is extremely difficult to secure a credit card without local employment history, SSN or credit history.

The CreditStacks card is a revolutionary product that flips the script on the credit paradox, providing qualifying applicants with a generous credit line with great terms from day one.

"Mastercard remains committed to helping financially underserved consumers connect to financial networks to unlock their economic potential and enable them in their everyday lives," said EVP, Digital Partnerships, Mastercard, Sherri Haymond.

"To meet the needs of today's increasingly global consumer, payment providers, issuers and merchants must come together to create solutions that are accessible and provide added value beyond payments. Our partnership with CreditStacks is a great example of how we are delivering on that," Haymond added.

With the CreditStacks' revolutionary behavioral risk models, relocatees are seen for who they really are: creditworthy professionals that can now get the card they deserve and start their American life the way they should.

As such, relocatees no longer need to rely on traditional credit scoring that is practiced by most financial institutions.

"I remember the first time I went to the bank in the U.S. I had just successfully sold a company I founded and moved to the U.S. I was talking to the leading thinkers in the industry, and I found myself standing in front of a clerk at the bank who was explaining that since I don't have any credit history all I could get was a debit card. Instead of seeing it as a problem, I saw it as a challenge," said CEO, CreditStacks, Elnor Rozenrot.

"We couldn't find a credit company that would treat us right, so we started our own," Rozenrot added.