Based on your application and credit history, you may be approved for Pomelo Credit Builder when you apply. This plan is designed to help you build your credit while sending money to the Philippines.
Here’s how it works:
Once approved, you will receive a Pomelo Secured Mastercard® with a credit limit that you can set between $200 and $500 with a security deposit of equal amount.
Once your credit limit and card are activated, you can begin using your Pomelo Secured Mastercard®. Your loved ones will also receive a Pomelo Mastercard® and can begin using it as soon as it is activated.
At the end of each monthly billing cycle, you will be issued a monthly billing statement. This will include your statement balance amount, which must be paid in full by the statement date.
Utilizing credit and consistently making on-time payments (made easy when you turn on autopay) may help you build your credit.
After enough on-time payments, you may also be upgraded to the Pomelo Pay Later plan, where your security deposit will be refunded.