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WebBank is a financial institution that issues credit cards and other financial products largely for brands that aren’t directly in the banking business. It’s similar to Synchrony Bank or Comenity Bank, issuers behind many co-branded credit cards for retail store chains.
WebBank was chartered in 1997 in Utah. In terms of credit cards, it issues multiple products aimed at people with short credit histories, also called "thin" credit files. Indeed, NerdWallet recommends some offerings from WebBank for people looking for starter cards or alternative cards.
So WebBank is a legit bank and is safe to consider doing business with. That doesn’t mean all its products — or those of its partners — will be right for you or that you’ll have a good experience. But like other banks, it has extensive legal requirements at the federal and state levels. Its bank deposits, for example, are insured by the Federal Deposit Insurance Corp.
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Are WebBank credit cards good?
For the most part, credit cards issued by WebBank aren’t mainstream cards. Generally, they're for people with credit challenges, especially those who don’t have enough credit to qualify for other credit cards. NerdWallet recommends several of these cards for people in that situation, but some cards by other issuers can offer more value. Here’s a sampling of the marketing partners WebBank issues cards for:
AvantCard Credit Card
If you have limited or bad credit, the AvantCard Credit Card could be a good option for you. There's no security deposit, a $0 annual fee and it earns rewards.
WebBank can consider factors aside from just your credit scores — including your income and debt — to weigh your creditworthiness, and the card reports to all three credit bureaus. But credit limits might start at only $500, and there's no path to upgrade to a better card.
In short, it's a good option for those with limited credit, but people with good credit can do better. Plus, there are a handful of states where this card isn't available.
Imagine® Visa® Credit Card
At first glance, the Imagine® Visa® Credit Card looks pretty promising. It allows you to build credit without a security deposit requirement, and it also features relatively high credit limits, not to mention the ability to earn solid rewards for a card in this category: 3% back on gas, groceries and utility bill payments and 1% on all other qualifying purchases.
But those features will cost you in the form of both an annual fee as well as a monthly account maintenance fee, the latter of which kicks in after the first year.
The annual fee decreases after the first year, which helps. But if you carry a balance with this card, you'll also have to contend with an extremely high interest rate: The ongoing APR is 36.00% Fixed APR.
Ultimately, a secured credit card might be more cost-effective if you can handle the upfront deposit.
Gemini Credit Card
The Gemini Credit Card® takes aim at a whole new market for WebBank: crypto enthusiasts. In fact, it's one of the few crypto-earning credit cards still standing.
The card's regular offer includes rewards of up to 4% back on purchases. Rewards are earned instantly at the time of purchase, and cardholders can choose from more than 50 cryptocurrencies in which to claim their rewards, including Bitcoin, Ethereum and Dogecoin. (Some exclusions apply to instant rewards in which rewards are deposited when the transaction posts.)
The Gemini Credit Card® itself has a $0 annual fee (rates and fees). However, it's worth noting that crypto rewards earned from the card are issued through the Gemini Exchange, and cardholders must also maintain an account there to access their earnings. The exchange charges a variety of fees depending on level of usage.
For that reason, the Gemini Credit Card® is probably most useful to crypto enthusiasts who already trade on the Gemini Exchange and want to apply earnings from credit card purchases to their portfolio. Otherwise, the extra complications and fees to sell currencies held in an exchange account probably wouldn't be worth it for the rewards earned.
» MORE: Best crypto credit cards
OneMain BrightWay® Card
The BrightWay credit cards (there are two versions) are a partnership between WebBank and OneMain Financial. The cards can be useful credit-building tools, but they are currently available only by invitation or through partner websites. If you can get one, you’ll have access to incentives along your credit journey. After achieving a milestone event, such as making six consecutive one-time payments, you can choose from a lower purchase APR or a higher credit limit within certain parameters. Terms apply.
When you’re building credit, it’s important to foster healthy habits like paying off the credit card’s balance in full every month to avoid interest charges. So unless you're carrying a balance, choosing the higher credit limit is the better option. A higher credit limit can help your credit scores because it can lower your credit utilization, the amount of your available credit in use. It’s a key factor that impacts credit scores.
The Brightway cards also earn 1% cash back on all purchases. It’s not a generous amount, but rewards on credit-building cards are usually modest if they're offered at all.
Tilt cards
The Tilt portfolio of cards — which includes the Tilt Engage, the Tilt Motion and the Tilt Essentials — is generally geared toward those looking to build credit. The three cards are unsecured options, meaning they don’t require an upfront deposit as collateral, and each card is aimed at different credit profiles:
- Tilt Engage is for those with poor to good credit who can't qualify for Tilt's other cards. It’s the only Tilt card with an annual fee: $59.
- Tilt Motion is ideal for those with poor to good credit. Cardholders get 1% to 10% cash back at select merchants.
- Tilt Essentials is for those with fair to excellent credit. It earns 3% cash back on gas and groceries when cardholders set up autopay, and 1% back on other purchases.
Applicants can’t apply for a specific Tilt card. Rather, using Tilt's pre-qualification process, applicants are considered for all three cards and offered terms for the card they qualify for. Plus, like other cards issued by WebBank, Tilt’s unique underwriting process means that the company can consider more than just an applicant’s credit scores; factors like income and cost of living can also be used to determine eligibility.
All three Tilt cards report to the three major U.S. credit bureaus, and each card also offers the opportunity for a credit limit increase.
🤓 Nerdy Tip
Tilt — under its former company name, Empower — acquired the Petal portfolio of credit cards in 2024. Tilt's new credit cards have replaced Petal's three WebBank-issued cards: the Petal® 1 Rise Visa® Credit Card, the Petal® 1 Visa® Credit Card and the Petal® 2 Visa® Credit Card. While new applications are closed, existing cardholders can continue to use their cards. Klarna Card
The Klarna Card, which is a partnership between WebBank and the Klarna "buy now, pay later" provider, is less a credit card and more a charge card. This means you'd typically need to pay off the balance in full every month — except, as you might expect from a BNPL program, the Klarna Card offers options if you need more time to do that.
Those options include installment windows of one month, three months or six months. But it's important to note that those plans will all charge interest.
It's also important to note that the Klarna Card doesn’t report payments to credit bureaus, so it won't be of any use if you're working on bolstering your credit.
More on WebBank
Beyond credit cards, WebBank, based in Salt Lake City, offers traditional banking services and retail financing and loans via other brands. For example, WebBank also partners with well-known brands such as PayPal, Fingerhut and Yamaha.
WebBank’s parent company is Steel Partners Holdings L.P., principally based in New York. In addition to banking, Steel Partners is involved in industrial products, energy, defense, direct marketing, logistics and more.
