Zolve Azpire Credit Builder Card + Checking Account review

The Zolve Azpire Credit Builder Card + Checking Account could be one of the first “debit” cards to build credit. Its level of accessibility is top-tier, since there’s no annual fee and no credit check required to apply for the card. You’ll use your own money as your “credit limit” and Zolve reports most of your activity on the card to the three credit bureaus.

Why you might want the Zolve Azpire Credit Builder Card + Checking Account

A credit card is one of the best tools to use when establishing credit and building your score. However, many credit cards come with limiting application requirements, annual fees and interest charges that can be hard to manage. The Zolve Azpire card creates a unique alternative. The card primarily functions as a debit card, but Zolve reports your payments and account age to the three credit bureaus, allowing cardholders to build credit without some of the most common credit card drawbacks.No credit check or Social Security number required

The Zolve Azpire also carves out a new level of credit accessibility. There’s no credit check with your card application and it doesn’t require a Social Security number (SSN) to apply. Card applicants can also use an Individual Taxpayer Identification Number (ITIN) or a valid passport with an accepted visa on their applications.

Affordability is at the forefront

The Zolve Azpire is notably light on fees. The card charges no annual fee, foreign transaction fee or late fee. The card also doesn’t charge interest on purchases.

Up to 10% cash back at select merchants

The Zolve Azpire does have a rewards program — a rare perk for a credit-builder card. Cardholders can earn up to 10% cash back at select merchants with the Zolve Azpire, though redemption options and qualifying merchants are unclear.

Why you might want a different card

For credit builders who want to see a quick turnaround on their efforts to build credit, the Zolve Azpire might not be the best fit. This card is a stopgap between a traditional credit card and a debit card, so it doesn’t have key features it would need to ensure timely credit score improvements.

No credit limit or credit utilization reporting

Zolve only reports some account activity to the three credit bureaus. Credit utilization and credit limit are two things the issuer does not report. Since Zolve does not report credit utilization, which is the second-largest influence on your credit score. However, without reporting this  key element, it could take longer to see your score change.

Required deposits to a Zolve account

The Zolve Azpire card skips interest charges because the issuer deducts cardholders’ purchases from a deposit account. Though the card doesn’t formally function as a secured credit card, this factor functions similar to a security deposit. Whatever amount you deposit into your Zolve account serves as your credit limit, which can hinder your spending flexibility in an emergency.

How does the Zolve Azpire Credit Builder Card + Checking Account compare to other credit-building cards?

The Zolve Azpire stands out among more traditional credit-builder cards because of its hybrid nature as a debit and credit card. While there are elements to the card that make it far more accessible than other credit-builder cards, the lack of full credit card features could hold up your credit-building potential.

Capital One Platinum Secured Credit Card	Discover it® Secured Credit Card	The Card with No Credit Check - The Secured Self Visa® Credit Card*
Rewards rate None	Rewards rate  2% cash back at gas stations and restaurants (up to $1,000 in combined purchases per quarter) 1% cash back on other purchases	Rewards rate None
Security deposit required? $49, $99, or $200	Security deposit required? $200	Security deposit required? $100–$1,700
Annual fee $0	Annual fee $0	Annual fee $25
Access to a higher credit line? Automatic review for a higher credit line after making first six monthly payments on time	Access to a higher credit line? Account review after seven months of responsible use	Access to a higher credit line? Potential for a higher credit line as you make loan payments over time

Zolve Azpire credit card vs. Capital One Platinum Secured credit card

The Capital One Platinum Secured card is one of the best secured credit cards available due to its flexible security deposit. While most secured credit cards require a minimum of $200 for a security deposit, the Capital One Platinum Secured offers three tiers based on your credit score: $49, $99 or $200.The Zolve Azpire technically doesn’t have a security deposit requirement to open the card, but whatever you deposit into your Zolve Azpire deposit account becomes your available credit, in a way. In this instance, both cards are fairly similar in terms of common credit card costs, but the Capital One Platinum Secured does have a leg up as a fully functional credit card. It reports your credit utilization and credit line to the three credit bureaus, unlike the Zolve Azpire card. However, cardholders should beware of the Capital One Platinum Secured’s ongoing APR. If carrying a balance were to become an issue, the Zolve Azpire is the much more affordable choice.

Zolve Azpire credit card vs. Discover it® Secured Credit Card

For credit builders who want to cash in on rewards, the Discover it® Secured Credit Card is often touted as one of the best secured cards with rewards available. Your highest-earning spend categories are gas and dining, two very popular budget line items, and you still earn at least 1 percent back on every other purchase. The Zolve Azpire card also has a cash back rewards program, offering up to 10% cash back with select merchants. However, where you can earn and how you can redeem these rewards is less straightforward than with the Discover it® Secured Credit Card. The Zolve Azpire is the more cost-effective option, as you’ll have to tie up a minimum of $200 into the Discover it® Secured Credit Card’s security deposit.

Zolve Azpire credit card vs.The Card with No Credit Check – The Secured Self Visa® Credit Card*

The Card with No Credit Check – The Secured Self Visa® Credit Card has a unique set up, similar to the Zolve Azpire. Both pair building credit with using your own money, but in different ways. The Self — Credit Builder Account bundles two different types of credit together to jumpstart building your credit. The Zolve Azpire uses the money you deposit into your account to fund your card and reports some of your activity to the credit bureaus. The Zolve Azpire card is more straightforward than the Self account, simply using whatever you deposit to fund your credit card. However, the Zolve Azpire doesn’t report credit utilization, which could slow down your progress while the Self account’s setup could expedite it due to its built-in credit mix. It’s also important to note that the Zolve Azpire would still be more cost-effective over time, as you’ll have to pay interest on the Self Account, along with a $25 annual fee.

How to use the Zolve Azpire credit card

• Open and deposit funds into your Zolve Account. These funds will serve as your card’s available funds and are the key to establishing your credit.
• Use your account frequently, and don’t spend more than what you deposit. While you will avoid interest charges and late fees, spending more than what’s available on your card could lead to a declined transaction or account closure.
• Once you’ve established your credit, consider pairing this card with another that reports credit utilization. A card that reports your credit utilization will provide a better picture of your creditworthiness overall.

Is the Zolve Azpire Credit Builder Card + Checking Account right for you?

The Zolve Azpire card is a great choice for someone who is brand new to credit and has struggled in the past with accessing more traditional credit cards. If you’re an international student or don’t have a Social Security number, the Zolve Azpire credit card is one of the easiest ways to establish credit in the U.S. without the added stress of fees and excessive interest charges. However, if you want to build your credit quickly and can handle a credit card that reports your credit utilization, there are other options besides the Zolve Azpire that are still cost-effective and get the job done. Key indicators to help you choose if this card is right for you will be knowing how quickly you want to build your credit and how accessible you need a credit card to be.

*The secured Self Visa® Credit Card is issued by Lead Bank or First Century Bank, N.A., each Member FDIC.