FinTech news in Ryan Duitch category

Qualifying for a credit card is not easy when you have a poor credit score or none at all, but Los Angeles-based fintech company Arro wants to help consumers grow their credit line while also teaching them why that important. Duitch started the company with Luke Pelullo in 2021 to provide a credit card and credit-building platform that has a proprietary underwriting model that instead of relying on the FICO system, relies on income; for example, earning at least $1,000 a month in income. However, from Arro’s perspective, traditional lenders appeal to their bottom line, which doesn’t involve helping its customers stop the cycle of overspending or going into debt, Ryan Duitch, co-founder and CEO at Arro, told journalist. As the customer progresses through the in-app activities, like learning how to use credit responsibly and creating and meeting budget and savings goals, there are additional rewards like increases in credit line.