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All CollectionsCredit Builder Card: FAQs
Making payments with my credit builder card
Making payments with my credit builder card

How to use your card to, well, pay for stuff

Written by Roisin Allum
Updated over a week ago

Can I pay bills with the Credit Builder Card?

Hell yeah, that’s one of the many beauties of this card. Imagine how good it feels to have your Netflix or Spotify subscription actually help to build your credit.

When can’t I use my Credit Builder Card?

🚫 You cannot purchase crypto currencies

🚫 Insufficient funds: if the amount of the transaction exceeds your available credit limit. In this instance you can add funds to your security by typing "credit builder card" in chat to Cleo

🚫 You cannot make business purchases, this is a personal card and should only be used for making personal, family, or household purchases.

What about tap-to-pay?

Love tap-to-pay? Same. Get this when you add your card to Apple Pay (Google Pay coming soon). So add your virtual card to your digital wallet immediately for the smoothest payment ride. Side note: Chip readers still exist. Your physical card is built for insert-to-pay for security reasons, so always try that first.

What happens if I try to pay for something but have insufficient funds on my card?

If you try to pay for something but have insufficient funds in the security deposit, that transaction will decline. But, don’t stress: Cleo’s got you.

You can increase your credit builder limit in-app. Just head over to the Builder section of the Spend tab and tap "Add cash."

I want to make a purchase online. Where can I find my card details?

There are 2 ways to retrieve the card details for your virtual Cleo Credit Builder Card

From the Spend tab:

👉 Tap "Card details" and enter your card details

👉 A visual of your card number, expiry month and date, and CVV number will appear

From chat:

👉 Type "credit builder card" in chat

👉 Cleo will respond with your available balance and the following options: "add funds", "virtual card" and "spending"

👉 Tap the virtual card button and enter your passcode

👉 You'll get a visual of your card number, expiry month and date, and CVV number

Right. Now I know how to make payments… but how do I pay off my card balance?

There are 3 ways you can pay off the monthly balance due on your card:

1️⃣ Automatically using the money in your security deposit. This payment will be processed 4 days before due date

2️⃣ Manually setting a one time payment from the security deposit

3️⃣ Manually using an alternate payment method (e.g. the connected account you’re already using to pay for your Cleo subscription)

So what happens if I miss a payment?

If you don’t make your balance payment by the due date, Cleo reserves the right to report a missed payment to the 3 credit bureaus, as allowed by law. Generally, negative account information will be reported to the applicable credit bureaus once your account is 30 days delinquent. See the Cardholder Agreement for additional information.

If you haven’t paid your balance within 14 days of the due date, we reserve right to use funds from the security deposit to pay off any outstanding balance.

Want more? Check out our blog for all things personal finance.

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