What is Perch Credit?
The Perch mobile app offers a unique approach to building credit by leveraging users' existing recurring payments. Rather than relying solely on traditional credit card usage or loan repayment history, Perch enables individuals to utilize their regular monthly expenses, such as rent, streaming subscriptions, and utility bills, as credit-worthy data points. This innovative solution empowers users to actively improve their credit scores by reporting these recurring payments to credit bureaus, providing an alternative path for those who may have limited or no prior credit history. With Perch, users can take control of their financial well-being and work towards establishing a stronger credit profile, opening up new opportunities for securing loans, credit cards, and other financial products on more favorable terms
Highlights
- Utilizes recurring expenses (rent, subscriptions, utilities, etc.) as credit-worthy data to boost credit scores
- Provides an alternative credit-building solution for users with limited or no prior credit history
- Enables users to actively report and leverage their existing monthly payments to credit bureaus
- Offers iOS app availability for convenient access and monitoring of credit progress