SAN FRANCISCO—As many issuers reduce limits on their credit cards, one company has introduced new plastic that sets limits in a unique way.
The X1 Card, from Thrive, sets spending limits based on consumers’ future income instead of their credit score.
The company said some customers can expect limits up to five times higher than what they would get from a traditional credit card, Tech Crunch reported.
“And that limit can move up if you get a promotion at your job, for instance,” Tech Crunch added.
“The consumer credit card industry has been almost untouched by tech and has relied on the archaic credit score system,” the card’s co-founder, Deepak Rao, told Tech Crunch. “We reimagined the credit card from the ground up to have smarter limits, intelligent features, modern rewards and a new look.”