Zolve credit cards recently made their debut in the financial world, bringing a fresh and innovative solution to the personal finance needs of new immigrants to the U.S. and those seeking to revive or build their credit. With four card options to choose from, Zolve credit cards provide a path to an increased credit score with no Social Security number required. These cards break down traditional borders and open up a world of possibilities for individuals seeking financial solutions beyond geographical constraints.
Discover it® Secured Credit Card
Up to 2% Reward Rate
Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. Plus, earnRead More
Welcome Bonus
Cashback Match™
Annual Fee
$0
Regular APR
28.24% Variable APR
Credit Score
New/Rebuilding Credit
In the secured credit world, the Discover it® Secured Credit Card stands above the competition. With an unlimited 1% cash back rate on all purchases, plus 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, no penalty APR and no annual fee, we love this card for those who need to rebuild their credit. The matching cash back reward at the end of your first year is a sweet bonus.
- No annual fee
- Cash back rewards earning is uncommon for a secured card
- Free FICO score access each month
- Cashback Match doubles cash back rewards earning at the end of the first year
- Bonus category rewards are capped
- Secured cards don’t provide many of the perks unsecured cards do
- Secured cards require refundable deposits
- No credit score required to apply.
- No Annual Fee, earn cash back, and build your credit history.
- Your secured credit card requires a refundable security deposit, and your credit line will equal your deposit amount, starting at $200. Bank information must be provided when submitting your deposit.
- Automatic reviews starting at 7 months to see if we can transition you to an unsecured line of credit and return your deposit.
- Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. Plus, earn unlimited 1% cash back on all other purchases – automatically.
- Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. It’s free, activate with the mobile app.
- Get an alert if we find your Social Security number on any of thousands of Dark Web sites. Activate for free.
- Terms and conditions apply.
What Are Zolve Credit Cards?
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Zolve is a fintech company focused on solving the problem that many immigrants face when coming to the U.S.; credit history does not travel with you from country to country. Even if you have built credit history elsewhere, U.S. credit bureaus (Experian, TransUnion, Equifax) only look at the credit history you have built in the U.S., which if you are new to the country, is zero. Companies like CAURI Money and Nomad were created to remove the barrier to financial products for those coming from Africa and Brazil respectively.
Zolve markets mainly to Indian immigrants looking to build their credit faster in the U.S., although their customer base is not limited to this population. When you apply to gain access to their products, Zolve will use your Indian or U.S. credit history, your passport and student/work visa (or details from your visa application if your visa is not finalized).
Customers without U.S. credit history will need to first apply for a secured Zolve Azpire card along with a Zolve banking account. After demonstrating that they can responsibly manage this secured credit option, they will then be able to graduate automatically to one of three unsecured card products, which look and act like traditional credit cards.
Zolve Credit Card Highlights
Zolve has four credit cards available to consumers at the moment: the Zolve Azpire, the Zolve Classic, Zolve Signature and Zolve Black. Eligibility for each card depends on your credit history or lack thereof.
Zolve Azpire
Most applicants will start with the secured Zolve Azpire card. The card’s credit limit is determined by the amount of money deposited into your Zolve checking account (up to $10,000 per billing cycle). For example, if a customer deposits $1,500 into their checking account, they will have a $1,500 credit limit which allows them to spend up to $1,500 on their card. As purchases are made on an Azpire card, money is taken from the associated Zolve checking account. Azpire cardholders will also earn Z-points that you can turn into gift cards or vouchers at merchants affiliated with Zolve.
In essence, the Azpire card acts like a debit card with the ability to build your credit in the U.S. without any fees, as Zolve reports credit to TransUnion®, Experian® and Equifax®.
As consumers responsibly use the Zolve Azpire, they can then qualify for a $5,000 unsecured credit card option as soon as six months from account opening. Zolve currently has three unsecured credit cards in its line up: the Zolve Classic, the Zolve Signature and the Zolve Black, each of the cards are backed by Mastercard.
Zolve Classic
Zolve Classic is the entry-level credit card that offers benefits like 1% cash back on all purchases, a partnership to receive discounts at online retailers, as well as 24/7 support. Some unique benefits include $1,000 of life insurance in partnership with Avibra and a welcome bonus of $15 worth of Zolve points if you meet the minimum spend in a certain time period. Zolve indicates that this could be a different amount depending on each unique application.
One thing to note about the points connected to the Zolve Classic card is that they expire 12 months after they are earned.
Zolve Signature
The Zolve Signature is the midlevel credit card that comes with a monthly fee of $11.99 or an annual fee at a discount of $119.99. For the price of the monthly (or annual fee) cardholders will receive additional benefits including 3% cash back at three merchants you choose each quarter, up to $1,500 per quarter. These merchants include:
You will also earn 1% cash back on all other purchases and a welcome bonus of $25 worth of points if you meet the minimum spend within a certain time period.
This card differs from the Zolve Classic in that your points do not expire as long as you continue to pay the minimum payment each month.
You also receive credits like:
- $5 monthly credits with Lyft (requires at least three trips each month)
- Free ShopRunner subscription
- Credit for Instacart+ subscription
Other benefits include access to Mastercard Travel and Lifestyle Services (including concierge service), car rental insurance and extended warranty coverage, as well as $3,000 in life insurance coverage.
Zolve Black
Zolve Black is the most exclusive of the three credit cards and comes with a monthly fee of $29.99 or an annual fee at a discount of $299. You are able to select five merchants to receive 5% cash back on up to $3,000 per quarter. With Zolve Black, you will receive 1.5% cash back on all other purchases and a $50 welcome bonus.
Cardholders have access to the same benefits as the Zolve Signature like points never expiring and the Lyft and ShopRunner benefits. They also receive additional benefits like a Fandango credit, trip and luggage insurance, access to Priority Pass lounges and $10,000 of life insurance coverage.
Benefits of Using Zolve Credit Cards
The greatest benefit that Zolve credit cards offer is their low costs and credit building features which are necessary for anyone looking to rent, purchase a home, take out a loan or obtain employment.
In addition to these valuable benefits, customers also have access to other traditional credit card perks as they are upgraded to the unsecured Zolve credit card, the Zolve Signature or the Zolve Black. Benefits include:
- Credit limit of up to $5,000
- Welcome points
- Increased cash back on categories of your choice
- Exclusive offers through the company’s partners
- No foreign transaction fees
Who Should Get Zolve Credit Cards?
Zolve was created to help solve the credit issues that immigrants face when moving to the U.S. and is especially marketed to customers moving from India, as evidenced by articles on the Zolve blog with titles like, Best Way To Send Money From U.S. to India.
However, while this is clearly an excellent option for Indian immigrants, it could also be beneficial for international students, recent high school or college graduates or those establishing credit later in life.
What Are Some Alternatives to Zolve Credit Cards?
If you have been in the U.S. long enough to establish credit but need some help building your score, there are several other options available, like the Discover it® Secured Credit Card.
With the Discover it® Secured Credit Card you’ll earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. Plus, earn unlimited 1% cash back on all other purchases. Similar to the Zolve Azpire, no credit history is required, it has no annual fee, it earns cash back and it helps to build your credit history.
However, most immigrants will not have a U.S. credit history so alternative credit card options are hard to come by. In essence this is the reason that Zolve was created. Despite this being a somewhat niche market, there are still a handful of alternatives.
American Express, for instance, has a partnership with Nova Credit which acts as a translator between international credit bureaus and the United States. Individuals arriving in the U.S. from specific countries can utilize their overseas credit history to seek American Express cards within the U.S. through Credit Passport, a service offered by Nova Credit.
On the Amex card application, applicants may discover an option to select near the SSN/ITIN section, enabling them to leverage the Credit Passport provided by Nova Credit. This option does require having good credit established in the country you are coming from and you are not able to apply until you have arrived in the U.S. Customers without established credit or those who have not yet arrived in the U.S. may find that Zolve is the best option as it allows you to apply prior to your arrival.
Another alternative is to find someone with established credit willing to cosign on a credit card with you. The existing credit history of the co-signer enables the applicant with little to no history to get credit cards that they normally would not qualify for.
Similarly, you can be added as an authorized user on someone else’s credit card. However you want to make sure that the credit card reports the authorized user’s activity to U.S. credit bureaus. There may also be an additional fee assessed to the primary cardholder for adding authorized users to some credit cards.
Find the Best Credit Cards for 2023
No single credit card is the best option for every family, every purchase or every budget. We’ve picked the best credit cards in a way designed to be the most helpful to the widest variety of readers.
Learn More
Bottom Line
International students and immigrants from all over the globe face challenges when applying for credit upon arrival in the U.S. Zolve credit cards offer an appealing path for these global citizens seeking financial stability in the U.S. With their innovative approach and inclusivity, these cards offer a unique opportunity for immigrants and international students to establish and build their credit profiles while offering several enticing benefits and perks.