Perch Credit – Benefits and Drawbacks [Credit-Building App]

Perch is an alternative to traditional credit building methods.

It reports your subscription payments and common monthly expenses as creditworthy data to the credit bureaus.

As a result, this service can positively affect your credit score. This article will discuss the benefits and drawbacks of using Perch to build your credit.


The virtual debit card has a card number, expiration date, and CVV code, similar to a traditional debit card. Users can link their virtual cards to their bank accounts or load funds onto the card, and then use the card to make online purchases or pay bills.

Perch’s virtual debit card provides a few key benefits:

  1. Security: Since the card is virtual, it reduces the risk of losing a physical card or having it stolen. Additionally, it can have added security features like one-time use card numbers, which decrease the chances of fraud.
  2. Convenience: A virtual debit card can be accessed and used instantly, without waiting for a physical card to be issued and mailed. Users can also manage their card details and transactions easily through an app or online platform.
  3. Flexibility: Perch’s virtual debit card can be used wherever debit cards are accepted online. Users can also create multiple virtual cards for different purposes or to keep track of expenses more efficiently.
  4. Control: Virtual debit cards are ideal for managing spending habits, as they can have spending limits and alerts set up to help users stay within their budgets.


Virtual debit card

The founders of Perch credit virtual debit card have big plans for the future. While their initial target market is 18-25 year-olds, they do plan to expand to older adults as well. They hope to benefit 100,000 people by 2021. The company launched in late January and onboards new customers weekly. Perch is currently available in the United States.

The founders of Perch met Ayush Jain and Michael Dawson at USC’s Sigma Eta Pi Co-Ed Entrepreneurship Society. Together, the two tackled product development and business planning. Jain had previously worked at DronesDash and as an Engineering Fellow at Kleiner Perkins. Dawson had prior experience in the credit union and as a Scout Ambassador for Sequoi. In addition, Ayush was an avid traveler and was passionate about helping people get started on the right foot.

The Perch credit virtual debit card also provides a subscription service that helps people build their credit. The Perch app connects with the user’s bank account to run a soft credit check. It offers a FICO score and feedback on factors that affect credit scores, including payment history, debt, and age of credit accounts. Users can choose whether to pay with cash or use credit, and make recurring payments to build their credit history.

The service is easy to use and has a number of benefits. You’ll have a credit-worthy virtual debit card to pay bills on the go. Perch also reports payment activity to Equifax and Experian by July 2021. Perch will report on your recurring subscriptions to credit bureaus. If you use Perch, your landlord will be glad they did. So will your tenants. And with the benefits of the virtual card, it’s a no-brainer for any renter.


Rent payments

Adding rent payments to your credit report with a mobile app is an excellent way to boost your score. Most landlords do not report rent payments to the national credit bureaus. There are many services that can help, but they often cost a lot and require you to involve your landlord. Perch is free to download and add rent payments to your credit report with two of the three credit bureaus. To get started, download the app today.

The app is designed to build credit with everyday payments, such as rent and utility bills. It also lets you build credit through subscriptions and recurring payments. Perch has a mission to empower people to become financially independent. Michael Broughton studied at the University of Southern California and has lived in Japan and South Korea. You can get it exclusively on the Apple App Store. By establishing a business relationship with Perch, you can get free credit while building your credit score.

Michael Broughton founded Perch after failing to get a student loan. Growing up in a military family, he had no financial security and no credit history. He was desperate for a way to go to school, and his family didn’t have the money to pay for tuition. As a result, he began doing research on credit and eventually developed Perch Credit. Today, you can boost your credit score by logging rent payments and reporting them to the three major credit bureaus.

Perch offers an innovative solution for building credit. Using a subscription service, users can report their utility and rent payments to Perch. This builds credit without using credit cards or loans. You can set up recurring payments every month and build your credit over time. And as long as you can pay your rent and utilities on time, Perch is a great way to build credit. You can then use it for other purposes as well.


Michael Perch

As a college student, Michael Perch was $10K short of paying his tuition at USC. As the first in his family to attend college, he had little knowledge about credit and was rejected time again. Fortunately, he managed to get the funding he needed to finish school, but he realized that people of all backgrounds were having the same difficulty gaining access to credit. After he graduated from college, he decided to start a credit company, based on his experiences.

With the help of investors like Softbank Opportunity Fund, Citi, Concrete Rose, and Michael Perch, the fintech startup has secured $2.5 million in seed funding. The company’s founder is working to build a free app that will help one million people build their credit scores. Perch’s beta version is already available on iOS and Android. This will give users a taste of the app and get them started on building their credit score.

A free version of the Perch app will allow you to input regular payments as proof of creditworthiness. This mobile app works with the major credit bureaus and reports data points monthly. It also has other free ways to build your credit score. In a few months, Perch will send you a free credit report with all the information on your financial health. It will also show you what your credit score looks like with each payment. It’s easy and free to use.

The app will help those who are underserved build their credit scores. According to the founders, the app will allow users to log recurring payments and improve their credit scores immediately. The app will launch in 2019 and JAY-Z has invested in it. Jay Brown and Jigga co-founded Marcy Venture Projects, a company that will offer users access to free financial literacy content and credit building content. That means that it will be a huge success.


Ayush Jain

Jay-Z is among the investors behind the Perch Credit app, which was launched in November. It aims to improve credit scores for underserved communities by allowing recurring payments to be reported as credit history. This way, users can immediately start improving their credit scores. The Los Angeles-based startup has raised $2.5 million from Marcy Venture Projects, which co-founded the app with Jigga and Jay Brown. It will also offer free financial literacy and credit-building content.

Founder Michael Broughton says he wasn’t ready to set KPIs before his first round of funding. That made him move faster and execute more effectively. The startup’s mobile app is a great example. It lets users transform recurring expenses like rent and utility bills into creditworthy payments. The app makes building credit easier than ever. By empowering individuals to make their monthly payments on time, Perch Credit is helping millions of people build credit and improve their lives.

Perch Credit is not publicly traded and does not have a stock market listing. However, there are ways to invest in the company. It helps users build credit score for free by converting rent into credit-worthy payments. While Perch Credit has not yet raised public capital, the company has come up with other creative ways to fund it. In the short term, the company is confident enough to move forward with its plan to build credit for everyone.


Cash flow underwriting

The cash flow underwriting for Perch credit card accounts is designed to minimize potential negative impact on your credit score. Perch is committed to helping you build your credit and doesn’t want you to experience late fees or other fees associated with late payments. This is why Perch won’t charge you late fees. They will also never make you pay more than you owe on your account. But before you apply for this credit card, make sure you know what your limits are.

While existing credit card companies facilitate reporting to the credit bureaus, their methods can be complex and costly. They may require you to respond to each month’s payment history, or require you to pay through a tracking company. With Perch, all you need to do is provide Perch with read-only access to your bank account, verifying payment history and credit history. Once approved, the lender doesn’t have to change the method of payment.

Using cash-flow data to predict credit risk is an emerging practice. It predicts credit risk better than traditional credit scores and provides independent predictive value across all groups. FinRegLab is planning to release a second report on this practice in August 2019.

Broughton’s company is backed by some of the world’s most notable names, including Citi, Sequoia Capital, SoftBank, Village Capital, and Marcy Venture Partners. Perch expects to help up to 100,000 people build their credit score over the next three years. Its iOS app has launched. If successful, it will be able to benefit at least a million people by 2021.



1. What is Perch Credit?

Perch Credit is like a digital companion on your journey to building and improving your credit score. It’s like a wise and friendly owl that guides you through the complexities of credit and helps you take control of your financial future.

2. How does Perch Credit work?

Perch Credit works by providing you with tools and resources to monitor, understand, and improve your credit score. It gathers information from credit bureaus, analyzes your credit history, and offers personalized recommendations to help you make informed decisions. It’s like having a credit coach by your side, cheering you on towards credit success.

3. Can Perch Credit help me improve my credit score?

Absolutely! Perch Credit is designed to assist you in improving your credit score. By tracking your credit history, identifying areas for improvement, and offering tailored guidance, it helps you make positive changes that can positively impact your creditworthiness. It’s like a personal trainer for your credit score, helping you get into shape.

4. How can I sign up for Perch Credit?

Signing up for Perch Credit is as easy as spreading your wings! Simply visit their website or download the Perch Credit app from your device’s app store. Follow the registration process, provide the necessary information, and voila! You’re ready to begin your credit journey with Perch Credit.

5. Is Perch Credit a free service?

Perch Credit offers both free and premium services. The free version provides basic credit monitoring and access to educational resources. For more comprehensive features, personalized recommendations, and enhanced credit monitoring, Perch Credit also offers premium membership options for a fee. It’s like having the freedom to choose the level of support that suits your needs.

6. Is my personal and financial information safe with Perch Credit?

Absolutely! Perch Credit takes the security of your personal and financial information seriously. They utilize robust encryption methods to protect your data and adhere to strict privacy policies. Rest assured, your information is guarded like a prized nest.

7. Can Perch Credit help me understand my credit reports and scores?

Definitely! Perch Credit provides tools and resources to help you understand your credit reports and scores. It breaks down the complex world of credit into digestible information, explaining the factors that influence your scores and how you can work towards improvement. It’s like a crash course in credit literacy, empowering you to make smarter financial decisions.