Tomo Credit Card 2022 Review No Credit History Required


In order to be eligible for a great interest rate for a credit card — or various other loans, a credit card provider will base their decision solely on the person’s credit rating instead of other aspects which make up an individual’s overall financial situation. This means that a certain segment of the population , like new graduates, immigrants, or people with low to no credit but an income, were not able to be eligible for a credit card that was suitable for their requirements.

Tomo was designed to avoid the issue of not examining the credit score of an applicant whatsoever. Instead, applicants are required to give Tomo with their bank account, savings or assets account details that will determine their the eligibility of applicants and, if they are accepted, the credit limit. As with any credit card designed to help in creating solid credit scores, Tomo reports to the 3 credit bureaus.

The main distinct feature that separates Tomo and other credit cards in this category is that it doesn’t have any interest, however, you’ll need to let Tomo connect to your bank account in order that it will automatically pay charges each week. This could be beneficial for people who are only charging charges that they would be able to make payment in complete at conclusion of each billing cycle. However, it also means that there’s no way to carry the balance over a certain amount of time. It’s up to you to decide whether this type of charge card is the right choice to your requirements for spending, or if a different option would work better for you.

At a Glance

  • No annual cost
  • There are no APR costs.
  • Earn cash back of 1% for every purchase, with more rates for referrals
  • Must be preapproved before they can have a chance to apply
  • You must auto-pay your bill each week
  • You must let Tomo to connect to your financial data


Earning Rewards

Tomo Card Tomo Card earns 1% cash back on each purchase. You can invite someone else to the card and if they’re approved it will pay you percent during the period of three months. You are able to refer up to 20 people as well as earn percent for three months per referral.

Redeeming Rewards

Cash back can be transferred into a qualifying account you prefer, that includes cryptocurrency. You are able to redeem your cash back up to 28 days after the prior month’s statements have been completely paid.

Potential for Rewards

Forbes Advisor uses data from various government agencies to establish the basic income and spending rates across different categories. In the 70th percentile, households earning wages earns $100,172 per year and is able to pay $52,820 for standard expenses. Assuming that 50% of the charges are billed to this card, the total annual spending for this card will be $26,410.

If the rate of return is 1percent an Tomo card holder will be earning $264.10. For each person who has been referred to and accepted to apply for an Tomo card and approved, an additional cash-back of 1% is earned for three months.

Other Card Benefits

As an Mastercard Tomo Card is a Mastercard Tomo Card comes with the following advantages:

  • Zero Liability Insurance: As a Mastercard cardholder, you’re not liable for the case that an individual makes purchases without authorization using your card.
  • Mastercard Global Service: Receive emergency assistance across any languages. Helps with the reporting of a stolen or lost card and obtaining an emergency card alternative or cash advance or finding an ATM and assisting with questions about your account.
  • Mastercard ID Protection from Theft: Activate your card by signing your card’s numbers and receive notifications when suspicious activity is identified and resolutions are provided if needed.

Fine Print

The Interest Rates

  • Regular APR: No interest charges
  • Purchase Intro APR: N/A
  • Introduction to Balance Transfer APR N/A


  • annual fee: $0
  • Balance Transfer Fee N/A
  • Cash Advance N/A
  • Foreign Purchase Transaction Fee None

How The Card Stacks Up

Tomo Credit Card* vs. Petal(r) 2 “Cash Back No Charges” Visa(r) credit Card

Petal 2 Petal(r) 2 “Cash Back and No Charges” Visa(r) Credit Card It’s a card that’s part of the Visa network and is among the top of the line when it comes to credit cards designed for those with less than stellar credit. The Petal 2 card, you don’t have for an annual charge or make an security deposit, and you’ll receive 1% cash back on eligible purchases immediately and as high as 1.5 percent cash back on purchases that are eligible when you make 12 timely monthly payments. Additionally, you can earn 2% to 10% cash back on selected merchants. If your credit rating is only beginning to grow then this Petal 2 merits a look.

Contrary to that of the Tomo Card, Petal 2 can also allow you to carry a balance, however unlike most credit cards, you’ll have to pay interest this, so you’ll have to carry the balance between months. Once you’ve applied, Petal will look at your credit score if have one. Should they not have one, they’ll apply the term Cash Score process, which is similar to Tomo’s process in that they’ll look at your overall financial picture to determine if are eligible to be accepted.

Tomo Credit Card* vs. OpenSky(r) Secured Visa(r) Credit Card

It’s the OpenSky(r) Secured Visa(r) Credit Card from Capital Bank can be a great option to build credit. It doesn’t require a credit check to be able to apply, meaning your credit score won’t be a factor unlike conventional credit cards. You can even get the card you want even in the absence of an even credit score.

There are two disadvantages, however, when compared to Tomo Card. Tomo Card. As secured cards you’ll need to pay an amount of security deposits that start with a minimum of $200 and up to a possible maximum of $3000, which would eventually be your limit on credit. The card has an annual cost of $35. You can choose to carry your balance month to month.

Tomo Credit Card* vs. Deserve(r) EDU Mastercard for students

The Deserve EDU card with no annual fee is specifically designed for college students who are just beginning to build credit. International students might be eligible too, but without having to have an Social Security number. The card is rewarded with cash back rewards of 1% and as it is a Mastercard includes an entire year’s worth of Amazon Student Prime membership monthly cost rebates once you’ve spent the first $500 of the card, as well as mobile phone insurance to cover loss or damage up to $600, with an additional $50 limit on deductible.

The main distinction among both the Tomo card and Deserve EDU card is the fact that the former lets you turn a balance around (interest charges could be incurred when the balance is not paid in full by the end period of billing) in contrast, the Tomo card is required to be paid every week.

Leave a Reply

Your email address will not be published. Required fields are marked *