In this video im going to break down 3 ways to start your own credit card and 2 of those 2 ways require little to no money.

How to Start a Credit Card Business make your own

Start up Cost
Can range from 0 – millions
How: because im going to be talking about three different ways to get started

Expenses
Legal expenses and day to day expenses depending on the way you choose

Profits
How is the money split and how is the interest accumulated also divided per transaction
Fees: interest charges, late payments, and so on. (16-35% annually)
Merchant fees: 1-3% per sales transactions
Selling data
Affiliates

Example: The average credit card makes around $213 per customer per year, so if you have a 1000 customers using your card: 213k = 17k per month ( no including other Fees)

This varies on the slip between you and the companies you partnered with and also the credit line you're able to offer.

Key: Three ways to start
1. Affiliate program: So this more like
Story: have you ever notice when your searching for credit cards or offers, certain websites pop up, and they offer you certain card. Well, whenever you sign up or become a lead, they get paid.

Nerd wallet and Bank Rate: These commissions vary by product
- So if you become a blog that advertises and creates value, then you can make some solid income.
Example:
Capital Bank: You refer people, and once they get an account, you get paid $25 per person.
Higher-end ( Credit Assistant Network ): These people pay $95 per sale of a product and also 1.25 for every lead.
( just by inviting people to check it out you could make money)
Even Experian has an Affiliate Program: Pays Between 0-100 bucks

Link to more: [ Ссылка ]

2. Affinity Partnership and CoBranded Credit Card
Affinity Program: this is more for non-profits and affinity groups ( people linked by a common interest or purpose, like employees or a corporation and so on), where a bank work in partnership to issue them a credit card for their non-profit with logo, and the non-profit in return gets a commission.

Co-Branded: This is a deal between a business and bank/issuer or sometimes the card network themselves
Example: Think about airlines like JetBlue and credit cards or Macys and credit cards, those are all Co-branded deals
Pro: Offering perks for your business when they use the card their, gives them a reason to come back
Example: if you have a JetBlue card and buy some tickets to a flight to Moscow, you’ll get 5 points per dollar, you spend money somewhere else you’ll get 1 point
- These cards also are used out of your store since they are either visa or master card and so on.
Step 1: Partner up with a bank to issue these co branded cards
Step 2: let them handle the rest

Example: notice how amazon has these store cards and visa cards
Visa cards: are run by chase
Store cards: Ran by synchrony bank
Or
Work with third party Credit card provider
Example: Visa, Master Card, American Express or discover
Amazon: also works with American express

3. From scratch (this is the juicy Part) or you can Also buy a Franchise
Simple Stuff: paperwork and business formation and permits, I won't go into details because if this is what you want, this is more of the grunt work you’ll have a lawyer take care of.
List: picture

What you’ll Need:
A niche for your customer base ( greenlight is kids, Petal Visa has credit builder,
- You can even have like cash goes to non-profit programs 1 for you and for 1 for them
You’ll need to finance those Credit Lines yourself
- You need a lot of cash and resources
- 1000 people join, and they all need 1000 dollars: that’s a million dollars right their
- Personal savings, angel investors and loans
Fund the business aspect ( including staff and credit card processing equipment and software)

Interesting fact: there are more than 550million credit cards in circulation in them alone
And you always: become a credit card issuer as in the manufacture of the plastic

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