Getting started
What will my credit line be?
Your vehicle will be worth more than we are able to provide. We are only able to offer a percentage of your vehicle’s value. The approval amount is indeed based on your vehicle's value, but we also take into account factors like depreciation and other risks to make sure the credit line is both secure and manageable for you. This means that while the Kelley Blue Book or other tools might show a higher value for your vehicle, the amount we can offer is adjusted to reflect these considerations.Even though it might seem lower, this approach helps us provide a stable and reliable credit line that works well with your financial situation. We're committed to offering you the best possible amount while ensuring the process remains safe andbeneficial for you. Yendo Credit Cards have credit lines ranging from $450 up to $10,000. Your credit line depends on the make, model, mileage, and condition of your vehicle and your ability to repay.
Can I sign up for the Yendo card if I am not a U.S. Citizen?
Of course! U.S. Citizenship is not a requirement for approval.
Do I need to have a Social Security number in order to apply?
No. You can apply using either a Social Security Number (SSN) or an Individual Taxpayer Identification Number (ITIN).
Is Yendo a secured credit card?
Not quite, but similar. A secured credit card requires money to be deposited to open an account. That money is known as a security deposit, and your credit limit is equal to the amount of that security deposit.
At Yendo, we know most people want financial mobility and a financial safety net. Yendo gives you the ability to use the equity in your vehicle to gain access to credit rather than sending in a cash deposit. The credit limit will be determined by the year, make, model and condition of your vehicle. We will also take your ability to repay into consideration to ensure you are able to afford the monthly payments. Yendo credit limits are typically much higher than cash secured credit cards and don't require any investment from you.
If I sign up, when and how do I get my title back?
You can request for Yendo to close your account at any time. If you do this, once we verify that your account balance is $0, we'll remove our lien and release the title to you. You can learn more about our title/lien release process in this article. https://www.yendo.com/blog/yendos-title-submission-and-title-lien-release-process-a-complete-guide
What vehicles can be used to apply?
We created Yendo to bring access, transparency, and clarity to the process of borrowing money when you need it most.
- Cars
- Light Duty Trucks
- Vans
- Sport Utility Vehicles (SUVs): We only accept vehicles that are 1996 or newer and in working condition.
Will this affect the ownership of my car?
No. Even though we become a lienholder on your title, your car remains in your possession, and you will remain listed as the owner. Once you close your account, our lien is removed, and the DMV sends the title to you.
How soon can I get my credit?
Most Yendo cardholders have access to their virtual credit card within an hour of completing their application and mailing their title. The virtual card can be used online or with Apple, Google, or Samsung pay. A physical card will be mailed to you and typically arrives in 3-7 days.
How is this different from a title loan?
Option 1
Credit Card, Not a Loan: Yendo offers a credit card secured by your vehicle, rather than a lump-sum loan.
Like most credit cards, with Yendo’s credit card, if you pay off your full statement balance by the due date each month, you won’t pay any interest at all. Interest only applies if you carry a balance after your due date or if you do a cash advance or balance transfer. For example, if you have a $3,000 credit limit but only use $500 to buy groceries and gas and pay it off by the due date, you won’t be charged any interest. If you don’t pay the full amount, interest will apply to the remaining balance.
With most lump-sum loans (like a title loan), interest starts building on the entire loan amount right from the start. Even if you don’t use all the money right away, you still have to pay interest on the full loan amount, often at a much higher rate, and the you owe it all back at the end of its term, usually within a month or two.
No Lump-Sum Payments: With Yendo, you make affordable monthly payments that are typically one percent of your balance or $50—whichever is greater. Title loans often require you to pay back the full loan in one lump sum or risk losing your vehicle.
Ongoing Credit Line: Yendo provides an ongoing credit line, meaning as you pay down your balance, you can continue using your available credit. A title loan is a one-time transaction, and once you repay the loan, it’s over.
Lower Interest Rates: Yendo typically offers lower and more affordable interest rates than what you’d find with title loans, which often have very high rates and fees.
Reporting to Credit Bureaus: Yendo reports your payment history to the major credit bureaus, helping you build or improve your credit score. Title loans generally don’t offer this benefit.
Option 2
We created Yendo to bring access, transparency, and clarity to the process of borrowing money.
- Title loans are expensive, inconvenient, don’t build credit (Experian), and often trap borrowers in debt.
- Yendo is easier, smarter, and more affordable.Yendo gives you:
- The opportunity to build credit.
- $0 in interest if you pay your full purchase balance on time each month.
- Protection against fraud.
- A credit limit of up to $10,000 that is there when you need it.
- If you pay off your full balance and keep your account open, you won’t need to reapply, you can quickly access the cash when/if you need it.With the Yendo Credit Card, you can get approved from the convenience of your smartphone and have access to revolving credit at a 29.88% APR (Annual Percentage Rate). This is the annual rate at which interest is generated on any balance that you carry over, so this is significantly less than the APRs of title loans.
Why should I choose Yendo?
At Yendo, we believe everyone should have access to fair and affordable credit. We understand life can be unpredictable, and the right financial partner can help you navigate the twists and turns. With our Yendo Credit Card, you can get up to $10,000 at an affordable rate by using the equity in something you already own - your vehicle! And we report to the major credit bureaus, which can help you build the credit you need for a more secure financial future.