Hi r/CRedit ! I’m Kristy Kim, CEO of TomoCredit. I’m creating a 0 interest, 0 fee card. I was able to raise a seed round of $7 million and we are ready to issue 1 million cards. I am doing another AMA right now! : CRedit


Hello Reddit,

I’m Kristy, the CEO of TomoCredit, and I had an AMA here 7 months ago that shared my journey with TomoCredit. It was a great experience and there were far more questions and comments than I expected – from feedback, insights, of course critics and skeptics (no, I’m not the next Elizabeth Holmes!), And we were even featured on German WallStreetBets (and no, we are not the next WiredCard either!) at r / mauerstrassenwetten.

After graduating from college and unable to rent an apartment despite working full time due to poor credit, I decided to create tomorrow’s credit card with no interest rates, fees, or credit. Our drawing system focuses on analyzing cash flows and alternative records to allow people to use our card. Fast forward a couple of years and a Reddit AMAWe’ve issued thousands of tickets, we’ve pre-approved over 300,000 applicants (up from 20,000 in July), and secured a starting round of over $ 7 million, and were featured on TechCrunch. TomoCredit has officially partnered with MasterCard to help underserved people without access to credit (minority, immigrant, young consumer). We have also expanded our team and plan to expand even further in 2021.


  • Massive organic growth

  • Quality Users: Our success rate with users paying back their credit on time is very high and we see this positively in the future as well. Our approval system without credit history works.

  • Great team: Nobody can do this alone. It takes an incredible amount of resources and an amazing team to start / run a credit card company (or business).

  • Active feedback from users: good or bad, users have not been afraid to let us know how they think about our product on social media, via email, etc. (including Reddit of course :))

Difficulties / obstacles:

  • Overwhelming response from over 300,000 applications: The massive organic growth was a double-edged sword. We wish we had expected this huge volume sooner so we could better prepare.

  • Customer Support: We did not have the required amount of customer support, especially with the number of applications and for a credit card company. Since then, we’ve learned and adapted – we’ve hired new team members and account managers.

  • The new concept was confusing to some old folks: FICO scoring is the legacy system and the big players in the credit card industry are much older. Of course, many users also tend to have a traditional mindset. However, we are proud to introduce a new credit card model to the new generation of customers.

  • Skepticism towards traditional user group

To answer some FAQ questions and concerns from the last AMA::

– First and foremost, we do NOT sell any data to third parties. We are also FDIC insured and follow all bank-quality security measures required for credit card issuance.

-How do we make money? We are only paid by dealers, not by customers. Unlike other credit card companies, we don’t charge annual interest or fees, so we lose revenue from fees. However, because our primary user base is prime with high purchasing power, our business is profitable.

I’m always open to discussions about fintech, startups, work-life balance, entrepreneurship, successes and failures, personal finances in building credit, etc. Ask me something!

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