Post 002: Millennials with Credit Cards

Topic 2, Marketing in the news.

Goodbye Generation X and welcome Millennials. I, myself am a millennial, still trying to figure out this thing called life and how it works and how to move forward. We, Millennials have all this technology at our fingertips, all these innovative and creative ideas but what some of us are lacking is decent to good Credit. Some might think credit is boring or complicated but we might need good credit to execute all of these wonderful ideas we have and make them become a reality. I stumbled across this article that might have a solution for those seeking to start or improve their credit. The article: "Petal Raises $13 Million To Give Starter Credit Cards To Millennials" by Lauren Gensler of Forbs,  talks about this fairly new company out of New York named Petal, aiming to help younger adults build or improve their credit and credit scores. It hopes to achieve this by offering credit cards with no fees. The credit cards rang from $500 to $10,000 credit/spending limit, with 13.99 to 24.99% APR and NO fees. No overdraft fees, late fees, international fees and no annual fees. The company, founded by Jason Gross (Harvard trained lawyer), David Ehrich (experience with JPMorgan and Americana Express),  Andrew Endicott and Jack Arenas. Gensler talks about how this is not a long term card but more to help the younger generation get started. The card is currently waitlist only and has attracted over 40,000 people already.
This company is filling a niche that seems to be extremely interested and eager to jump in. This company is actually "remarkable" and is different from all of the other major players in the credit card market right now. They do this by offering no fees and easy access to their card. I really do think that this company will take off because it offers value to this niche of younger adults who need this jump start.

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