Perch allows you to use your existing recurring expenses such as rent, Hulu and Spotify as credit worthy data to boost your credit score. ⠀ Now available on the iOS App Store!
Hi, Product Hunters!
I’m Michael, the founder of Perch Credit.
I made Perch Credit to remove the barriers to achieving a good credit score, which is necessary to be financially secure.
The problem with the current credit worthiness system is that you need to make huge purchases to prove that you can make huge purchases! Yet, although most of us rarely make huge purchases, we are still proving our credit worthiness every month — through rent payments and recurring subscriptions (like Netflix, Spotify, Hulu, etc)!
Y’know how when you apply for an entry level position and they require 10 years of experience? Why is credit worthiness the same? If that’s stupid in employment, why is it valid in the credit card application process?
And so, with Perch you can build credit with:
Rent payments: get credit for up to 24 months of your previous on-time rent payments. And then set up automatic future reporting with Perch to continually improve your score.
Subscriptions: if you already pay for services like Netflix, Spotify, Amazon Prime, or subscription boxes, you can be rewarded for demonstrating that you’re financially responsible.
Perch launched in the iOS App Store right at the start of 2021 and we already have over 25,000 people on our waitlist. Over time we’ve invited small batches of new users into the app from our waitlist — and have been blown away by the response.
One of our biggest fans — and our first check! — is Jay Z, someone who cares deeply about bringing financial literacy to the underbanked and financially underserved community.
Bad credit could cost you double. Compared to a credit score of at least 800, a poor credit score under 579 results in an extra $1400 per year of just car insurance. APR rates are higher the lower your credit score is, too. So save your money and start building your credit with Perch! We even made a special invite just for our fellow Product Hunters.
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Easy to navigate, simple to use! Definitely a necessary application needed in the fintech space, especially as a college student who is trying to always save money and build up credit.
@vicky_chang Thanks Vicky! I am glad you love the product as well :) It's nothing but validation to hear that you feel that this product is necessary. We believe so too and hope to solve the credit crisis so many people face!
Having been a part of one of Perch's early cohorts, I can confidently say that this app is a must-have for everyone! I'm a 3rd year at UC Berkeley and after taking a personal finance class out of curiosity, I realized the importance of building credit—and how crucial it is to start doing so early. But after skimming some articles about how to build credit, I still felt like so many of the recommended ways were completely out of reach—until I discovered Perch! Now, the payments for Spotify, Netflix, iCloud storage, and rent on my monthly statements have taken on a new meaning; they're not just transactions cutting down on my finances, but rather opportunities to build a better financial future. Perch definitely lets you see your payments in a new light, and I'm excited to keep using the app!
@rachael_deng Hey Rachael,
Really love your comment here. I faced this same problem when starting my credit journey in college. There is no clear way to start building credit and our mission is to help create a clear, free and simple path to begin! I love that you have found value in our product and that it has truly helped make a difference in your life. :)
My gratitude goes out to HACKWEST AT WRITEME DOT COM for fixing my credit report and clearing all the negatives, collections, charge offs, electricity and phone bills as well as the student loans that ruined my credit. I tried a few people before a friend recommended Hack West after showing me how he got helped by West. My 70,000 USDT that I lost to an investment scam was also recovered by West. I now enjoy an excellent credit report and a life devoid of debts. If you need similar help you can write via the above email address and thank me later.
I had been to at least 8 finance companies and was turned down by all of them due to my bad report. I gave up on buying a new house. Then a friend told me to contact XAPCREDITSOLUTION AT GMAIL D0T C0M.They told me he's the right one to solve my current situation. I was skeptical, but I emailed anyway. XAP is amazing! I gave him all my information and he got to work immediately. Just within a space of 7 days he called and told me to check my report. I didn't believe what I saw. Everything was totally cleaned up and I could go get my dream home, I almost cried. Not only did he fix my credit, he also paid off my debts on my Capital one and Wells Fargo bank. I have so much respect for the XAP team because of the way they treat clients, their knowledge of the industry, and relentless pursuit, I now consider XAP Credit as the best credit specialist! If you need help, please contact XAP Credit Solution ASAP.
I was in the process of rebuilding! I had a 30-day late payment to Bank of America from May of 2019 due to being out of the state I live in due to a family emergency. My mother experienced a life changing injury and was in a trauma center for over a month. During this time, I inadvertently overlooked making my BOA payment. I explained this in a Goodwill letter I sent and was surprised that I immediately got a call stating they would investigate it. I was told to give them two to three days, as they would need time to review my account. One morning, I got a call from the same lady stating that they could not honor my request and remove it due to the Fair Credit Reporting Act. I told her that I was disappointed as I had read that they had removed other’s requests after similar events. She then apologized and stated how they changed the Goodwill/Humanitarian policy in December. I was also an authorized user on my ex’s USAA card that was charged off. It was at some point paid and settled but USAA refuses to remove the negative reporting from my credit report. I have disputed with all bureaus, and it’s never removed. This is both a recommendation and an appreciation of the good job that PINNACLE CREDIT SPECIALIST did for me. After reading various testimonies on QUORA and myFICO forum I decided to give them a trial. And believe me when I say they were up to the task as they cleared all the negative items on my credit report including charge offs, all late payment has been marked as paid on time. My report is squeaky clean. This morning, I got an email from Experian that said, " Congrats, your FICO Score went up. My score is now 803. This might sound sketchy, but PINNACLE CREDIT SPECIALIST is a life saver.
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