FS Card, a Washington-based credit card venture, has partnered with Republic Bank & Trust to launch an affordable small-dollar credit card, named the Build Card, with simple terms, features and benefits for cardholders.
The Build Card, which will be introduced in 2015, will leverage advanced analytical techniques and a sustainable product design to offer a lower total cost of credit for consumers.
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The credit card unit of Fenway Summer along with Republic Bank will deploy an up-front pricing approach and emphasize responsible cardholder behavior.
Republic Bank CEO Steve Trager said: "FS Card has built a platform that will attract creditworthy customers while efficiently pricing, underwriting and servicing loans."
FS Card CEO Marla Blow said: "Our credit program, together with Republic Bank’s tenure and experience as a leading consumer bank, will deliver an efficient and scalable unsecured credit product that can grow rapidly to meet the needs of underserved consumers."
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