New York, NY Piñata, a rental rewards program designed to help users build and establish credit, has just entered an exclusive partnership with Visa, called Piñata Pay, the first no-fee debit payment solution for renters with credit-card-like rewards. Created to be the responsible alternative to a credit card, Piñata Pay focuses on building long-term financial health without luring people into debt.
“It’s a way to access credit card-like rewards without taking on debt,” says Lily Liu, CEO of Piñata. “Users will be building financial health while supercharging all the things renters already love about Piñata. This means the end of the endless cycle of credit card debt for millions of renters.”
Piñata presents a much-needed solution for those just beginning to build their credit or those looking to improve it.
Here’s how it works: For each dollar saved, renters can earn points for rewards, get cash-back in their pocket, or win major giveaways like home theaters or a kitchenware makeover. Piñata Pay lets renters earn points on everyday expenses and will soon offer card-linked rewards on amazing deals featuring thousands of marquee brands.
In addition to offering credit-card like rewards, Pinata Pay is powered by fintech that reports rent payments to all three major credit bureaus, maximizing a renter’s credit score impact. With free back reporting, renters can see a significant point surge, which can have outside and immediate impact on their credit scores. A higher credit score, achieved through Piñata, can open doors to significant savings on loans and leases, while monthly rewards for everyday expenses provide much-needed financial relief.
“Simply put: Piñata is not a credit card that compounds people’s debt burden; it’s a game-changing membership program made to empower renters,” Liu said.
Piñata understands that building a financial future is no easy feat; that’s why they offer low yearly rates rather than monthly payments, ensuring a stable and secure path to financial health and a boosted credit score.
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