Fidelity One Credit, Corp. is the first lender in the nation to issue a low cost credit card secured by the customer’s vehicle. This new proprietary business model, which combines traditional consumer and car title loans with the power and features of a credit card, will drastically alter the subprime financial landscape in America. The Fidelity One card will combine all the best features and benefits of a traditional credit card, along with the higher loan amounts of a traditional consumer loan and the ease of origination, funding, and security of a car title loan. No other bank or finance lender in the country currently issues a credit card secured by a customer’s vehicle. Fidelity One will be the first to market with this revolutionary new financial product.
Fidelity One’s innovative new business model combines three existing multi-billion dollar subprime market industry segments: the credit card industry, the conventional consumer lending industry, and the car title lending industry, seamlessly into one operation. In so doing, Fidelity One will be ideally positioned to obtain customers from all three types of lenders. Traditional credit card customers will want a Fidelity One card because it is easier to obtain and can give them the higher credit limits they desire. Prospective conventional lending customers will apply for a card with Fidelity One because the Fidelity One card will meet their financial needs better with more features and benefits, lower monthly payments, and faster origination than traditional consumer or car title loans, and fringe lending customers will want an Fidelity One card as an alternative to the outrageously high charges they have been paying, which, in many cases may be over five hundred percent APR.