5 Things to Know About the Zable Credit Card
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Among credit cards for people who want to build credit, the Zable MasterCard® Credit Card is hardly the worst. It has a $0 annual fee and doesn't have a security deposit. But it’s unavailable to a wide swath of the U.S.
With its limited accessibility and perks, the Zable card won’t be the best option for most people.
Here’s what you need to know about the Zable card, issued by Continental Bank.
There is a version of the Zable card available to residents of the United Kingdom. U.S. citizens who want the Zable card should be sure that they’re applying from the U.S. website.
1. Only certain U.S. residents can get the card
As of July 2024, the Zable card is only available to residents in 23 states: Alabama, Arizona, Arkansas, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Kentucky, Michigan, Mississippi, Missouri, Montana, New York, North Carolina, South Dakota, Utah, Washington, Wisconsin and Wyoming. If you don’t live in one of those states, consider a card from a major issuer with a national footprint such as Capital One or Discover.
2. A security deposit isn’t required
Secured cards, a type of credit builder card, require an upfront security deposit in order to open the account. As the Zable card is an unsecured card, a security deposit isn’t necessary. That’s good news for those for whom a several hundred dollar deposit is a barrier to credit access.
3. The card has few perks
The Zable card offers little in the way of perks, with no rewards or sign-up bonus. But you don’t have to settle for a bare-bones card even if you have bad or limited credit. The Capital One Quicksilver Secured Cash Rewards Credit Card and Discover it® Secured Credit Card both earn rewards, and the Discover card also offers a 10.99% intro APR on Balance Transfers for 6 months, and then the ongoing APR of 27.49% Variable APR. *Rates as of December 12, 2024.
4. Instant credit card access — with a caveat
Once you’re approved for the Zable card, you’ll receive a virtual card number that you can use to make online purchases without having to wait for the physical card to arrive in the mail. The virtual card number can be found in the Zable app.
Note that cardholders can only charge up to 50% of their credit limit when using a virtual Zable card. Access to the full credit line won’t happen until the physical card is activated and then used to make an in-store purchase.
5. High APR can be costly
The ongoing APR is 26.49%-33.49% Variable APR, which skews toward the high end of credit card interest rates. However, as with any credit card, the interest rate doesn’t matter as long as you pay your balance in full.
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