About Yendo
Yendo offers a credit card product that is secured by the value of a customer's car, allowing individuals with limited or poor credit histories to access up to $10,000 in revolving credit. This approach differs from traditional credit cards, which typically rely on credit scores for approval. Customers apply for the card, and if approved, their vehicle serves as collateral, reducing the risk for Yendo and enabling them to serve a broader audience. The company generates revenue from interest on credit card balances, but customers who pay their balance in full each month incur no interest charges. Yendo's application process is quick, with pre-approval decisions made in minutes and no impact on the applicant's credit score. The company prioritizes security and customer service, receiving positive feedback for its helpfulness and commitment to assisting customers in improving their financial situations.