X1 Card, a new credit card using “smart features,” is now available in the U.S., according to a press release.
The card purports to totally reimagine the credit card and comes with smart credit limits, rewards and automated features, the release stated.
In addition, the card has a waitlist of “more than 350,000 people,” according to the release, and the card is partnered with Visa to allow for its use at many more merchants globally.
The card has “proprietary smart technology” to allow customers to cancel subscription payments in one click, automatically end free trials, get instant notifications for refunds and create one-time use virtual cards, the release stated. Users can also shop anonymously without revealing their personal information.
It also comes with a rewards program in which customers get points for every purchase without annual fees, the release stated.
And the card offers higher limits than other credit cards by looking at current and future income, according to the release. It also gives cardholders the ability to have a lower utilization rate, which can let them boost their credit scores faster.
“With X1, we tossed the rulebook out and designed the first challenger card for digital natives,” said Co-Founder and CEO Deepak Rao. “X1 delivers a superior experience that feels both simpler and smarter than any other credit card on the market, and we were so honored last year when hundreds of thousands of people joined our waitlist to get access to that experience. After months of hard work and an extremely promising private beta, we’re thrilled to start rolling out X1 Card to the public.”
In January, X1 Card raised $12 million in a funding round. Some of the participants included Spark Capital, which backs Twitter, Plaid, Slack and Affirm; Jared Leto; and several CEOs of tech brands.
Read more: X1 Card Raises $12M in Funding Round Led by Spark Capital
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