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This innovative card-based program will integrate the Company’s suite of personal budgeting and payment reporting tools and plans to offer a protective term life insurance option. The developing platform leverages prior program management infrastructure and is designed to enhance consumer education and awareness about their personal financial position.
The company does not specify when the card will be available, and it may face a struggle in getting to market. The company claims on its website that it can help cardholders build a good credit score. This is one of the reasons that the Florida Attorney General cited for why she was investigating five prepaid companies. Additionally, the company says its target market is unbanked and underbanked consumers, which means it is entering a crowded market. However, if it can make its financial management tools easy and inexpensive to use, it may have a competitive offering.
The company’s website is: https://www.myfullcredit.com/
For more on the Florida Attorney General’s investigation: