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X1’s income-based credit card is about to launch publicly


The credit card market has become increasingly crowded, with consumer fintech startups like locked in a fierce competition to differentiate their offerings through branding, rewards programs and even crypto compatibility.
X1 Card is taking a different tack by underwriting customers based on their income rather than their credit scores, which the company says enables it to set credit limits up to 5x higher than traditional card providers. It’s an appealing proposition for all sorts of people who have stable incomes but low credit scores, such as recent college graduates.
“For someone like me, who came from like a different country, a credit score, especially early on in my career, is not a true reflection of my ability to repay,” co-founder and CEO Deepak Rao told TechCrunch in an interview.
The card, which …

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