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TomoCredit Announces First-Of-Its-Kind Offering to Verify Cardholders Through School Email Address Instead of Social Security Number

·3 min read

The newest offering comes on the heels of a $10 Million Series A that expands TomoCredit’s team and enhances card features

SAN FRANCISCO, October 25, 2021--(BUSINESS WIRE)--TomoCredit, a fintech company offering a credit card focused on building credit history for first-time borrowers, today announced a new product feature that will allow students to be verified for TomoCredit Card through their .edu email address instead of a social security number (SSN). The new feature brings opportunity for the 5.3 million international students in the U.S. who are frequently barred from the credit system because they don’t have a SSN.

This press release features multimedia. View the full release here:

(Photo: Business Wire)

Most credit card providers require SSN verification for fraud prevention, but for those without a number assigned or with very little financial history, they’re required to go through an extended process of submitting personal documents to verify their identity and financial history, including a passport, driver’s license and more. By linking to their official school email address, TomoCredit can easily and accurately verify an individual's status and financial history, making the approval process for a card seamless, and allowing the individual to begin building a credit profile.

The new offering is built for international students, by an international team that understands the barriers of the traditional financial ecosystem. TomoCredit is the first credit card issuer to provide a one stop email based approval without SSN check , including no fees, no APR and no credit pull. This marks the latest innovation for TomoCredit in breaking down barriers, simplifying the approval process, and expanding financial inclusion to those that are too often left behind.

"We are thrilled to bring this new product feature to the millions of people who lack financial history in the U.S.. For many immigrants and young students, accessing credit is essential, but there can be hurdles to obtaining a credit card even if an individual is well qualified." said Kristy Kim, CEO of TomoCredit. "As a South Korean immigrant, I experienced the difficulties firsthand, and now, by tying our verification process to a .edu address, we are making it easier for students to enter the financial system."

TomoCredit aims to expand financial inclusion for the millions who lack a credit score, allowing an increasingly diverse group of consumers the opportunity to better position themselves as qualified candidates for mortgages, auto loans, or other major life purchases. As a South Korean immigrant herself, Kristy Kim, TomoCredit founder and CEO, understands the pain point of students without credit history all too well. TomoCredit is headquartered in San Francisco but its team members represent 10 different countries.

"As a fellow immigrant entrepreneur, I see a huge value in expanding credit offerings to underserved populations, especially international students and immigrants who are working hard for their American Dream" said Sam Wen, Co-Founder of Square. "This new offering from TomoCredit should help bring even more students and immigrants into the financial system, giving them an opportunity to build their credit, and beginning a journey to financial freedom."

TomoCredit is a next-generation credit card, catering to students, working professionals, and immigrants looking to build a better financial future in the U.S. TomoCredit is backed by KB Investment, Kapor Capital, Barclays Ventures and more. More information is available at:

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Aaron Berger

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