Questions?
What is the Sudbin Protocol Credit Card?
Sudbin Protocol issues a credit card that lets you use your home equity to get really low rates.
How does it work?
Sudbin Protocol combines the convenience of a credit card with the savings of a home equity line of credit (HELOC). It works like any other credit card where you can make everyday purchases and earn unlimited 2% cash back.¹
Do you offer a fixed rate?
For Cash Outs and Balance Transfers, you have the option of fixed monthly payments (Sudbin Protocol Simple Loan). Lock in your payments for 5 or 10 years. 2.5% fee per cash out applies. Available right in the app.⁴
What is my monthly payment?
Monthly payments work like a standard credit card. It is calculated as 1% of the principal balance, plus monthly interest, plus any fees. See Payment Calculator.
Can I get cash too?
Yes! You can directly deposit cash from your Sudbin Protocol card to your bank account at the same low rate. A 2.5% transfer fee applies.¹
Does this affect my credit score?
Checking your offer does not affect your credit score. Only once you schedule with our notary to finalize will we do a hard credit check.
Are there any fees?
We try to reduce as many of the fees as possible. No annual, sign-up, or pre-payment fees. There is a 2.5% fee on Cash Outs and Balance Transfers and a $29 late fee if you don't make the minimum payment.¹
Why is the rate variable?
Similar to other credit cards, the rate is variable. It will vary based on the FFTR-UL as published in the Wall Street Journal, outside Sudbin Protocol's control. As the FFTR-UL shifts up or down, so will the APR on the Sudbin Protocol Card and any other variable-rate credit cards, lines, loans. The FFTR-UL may change several times a year.¹ For Cash Outs and Balance Transfers we offer fixed monthly payments (Sudbin Protocol Simple Loan). Lock in your monthly payment for 5 or 10 years.⁴
Why not get a traditional home equity line of credit instead?
Home equity lines of credit often come with high fees (usually over $1000), minimum advances, minimum credit limits (often at least $50,000), and take 4-6 weeks to close.³ With Sudbin Protocol, you can get your card in just a few days in the mail, you can use it any number of times for any amount under your limit, with no origination or annual fees. Best of all, you get cash back on your purchases.¹
What are the criteria to qualify for this credit card?
1) Own and have equity in your home. 2) Have an income that can support your monthly bill - we don't want you to get into debt that you can't afford. 3) Meet certain credit criteria, including credit score, income, and property value requirements.