SAN FRANCISCO—A new credit card has been launched for people who want premium perks with or without premium credit scores and reportedly has more than 130,000 people on the waiting list.
The card, called the “X-1,” uses what the issuer calls the “novel underwriting process,” which it said links with a user’s bank account to determine credit limits based on cash flow, Wired reported.
The card, which bills itself as the “smartest credit card ever made,” promises up to five times higher credit limits than the average card. The card itself is made of stainless steel.
“It has a sleek app that gives users the ability to create disposable ‘virtual’ cards, cancel subscriptions with one click, and make anonymous transactions without giving out a real name or card number. Its points are redeemable at a list of merchants frequented by the stereotypical tech bro: Peloton, Patagonia, Allbirds, and Airbnb,” Wired reported. “Perhaps for that reason, the X1…has a waiting list of more than 350,000 people,” Wired said.